[Computational Complexity] Time to Cash It In
The US tries again with a new series of one dollar coins but will again fail since we still have the dollar bill. I have heard calls for eliminating the dollar bill and the penny since I was a kid and we have had over 300% inflation since then. Americans are no more likely to give them up than their yards and gallons.
So how about something more radical? Let's give up currency all together. No more coins. No more bills. I use electronic transactions, mostly my credit card, for nearly all purchases now. Many places don't require a signature for under $25, making the transaction faster than cash. I don't even slow down to pay tolls anymore on the Illinois Tollways. Surely we can make that final push to remove cash from the rest of the transactions.
We certainly have the technology today to eliminate currency. There will be some costs involved but with the savings for the government, banks and businesses of not having to deal with cash, we should be able to supply all Americans and visitors with smart cards. We can even put pictures of presidents on the cards to keep with tradition.
Posted by Lance to Computational Complexity at 2/28/2007 08:08:00 AM