Digital Pound Likely This Decade, Treasury Says

[Longcol]

1 minute ago, RollingJ said:

Take your point,  but I don't know what form this digital currency will take or how it will be used - do you?

No - just seems odd that almost parallel systems could be used which I'd have thought would make for more admin costs. As we've both pointed out - sterling can be used as a digital currency anyway.

[XPertByExperien]

Just now, RollingJ said:

What 'fraud'? - serious question.

One example, towards the end of last year I mistakenly signed up for a "dating" site called bravodate.com, after the 30 day trial I cancelled, yet until I physically went down to Virgin Bank in Hillsborough with my statement, they were still charging quite a bit for the subscription even though I'd got emails stating I'd cancelled.

 

Another example, a few years back, my PC got hacked, and people were stealing my details and even posting on here "posing" as me.

 

 

 

[RollingJ]

3 minutes ago, The_DADDY said:

Wrong.

Could be just straightforward digital cash?

Could be a form of control?

Could be linked to your 'carbon footprint' where algorithms decide if you've bought too much, travelled to far etc?

Second part  - paranoia setting in?

[ECCOnoob]

24 minutes ago, XPertByExperien said:

More to the point, there's too much fraud on cash cards as it is IMO, if we become a "cashless" society and everyone's forced to use their card to pay for stuff, that's liable to get much MUCH worse.

 

 

Back in the day when everyone was carrying wads of notes in their back pockets and every Friday they got their little brown envelope filled with their cash wages  just how much pickpocketing and muggings and theft and forgery do you think was being done???

 

All that's happened is crime has evolved as society evolved.

 

Why do people always talk about cash as if it's this wonderful thing that nobody ever lost or had stolen or misplaced or became damaged..... Nonsense.   

 

If I get £100 cash nicked out my wallet chances are that aint coming back.  If I get my card cloned and used for a suspicious transaction in a city I am not in, there's a high probability that my bank will detect it or I will spot it and get everything stopped.

 

To a business, what do you think is more risky between having cash being transported from your business every day or tills on the shop floor filled with notes or bags of money having to be sorted, countered and manually checked every day against the alternative of customers using their cards, transactions that goes straight into the account, banked at the click of a mouse and can be tracked, updated and traced in real time.  

 

 

Edited March 15, 2023 by ECCOnoob

[The_DADDY]

1 minute ago, XPertByExperien said:

One example, towards the end of last year I mistakenly signed up for a "dating" site called bravodate.com, after the 30 day trial I cancelled, yet until I physically went down to Virgin Bank in Hillsborough with my statement, they were still charging quite a bit for the subscription even though I'd got emails stating I'd cancelled.

 

Another example, a few years back, my PC got hacked, and people were stealing my details and even posting on here "posing" as me.

 

 

 

I feel your pain.

I regularly accidentally log into pornhub at least twice a week. Damn computers got a mind if it's own 😡

1 minute ago, RollingJ said:

Second part  - paranoia setting in?

In whom?

Me?

[XPertByExperien]

6 minutes ago, The_DADDY said:

Wrong.

Could be just straightforward digital cash?

Could be a form of control?

Could be linked to your 'carbon footprint' where algorithms decide if you've bought too much, travelled to far etc?

I already know I'm spending too much time/money on Amazon and other sites, I keep getting texts from Virgin saying "we are about to refuse such and such a payment"

 

 

[The_DADDY]

1 minute ago, XPertByExperien said:

I already know I'm spending too much time/money on Amazon and other sites, I keep getting texts from Virgin saying "we are about to refuse such and such a payment"

 

 

Sounds like you struggle to budget. Spending more than you should. Do you have anyone who can help you with that?

 

[RollingJ]

2 minutes ago, XPertByExperien said:

One example, towards the end of last year I mistakenly signed up for a "dating" site called bravodate.com, after the 30 day trial I cancelled, yet until I physically went down to Virgin Bank in Hillsborough with my statement, they were still charging quite a bit for the subscription even though I'd got emails stating I'd cancelled.

 

Another example, a few years back, my PC got hacked, and people were stealing my details and even posting on here "posing" as me.

 

 

 

Can't comment on the first item with any certainty, but I wonder if it was actually - illegally  - a continuous payment authority.

 Second bit that unfortunately can happen if your computer security/knowledge is lacking - no disrespect intended.

[XPertByExperien]

Just now, The_DADDY said:

Sounds like you struggle to budget. Spending more than you should. Do you have anyone who can help you with that?

 

Yeah Dad keeps a very watchful eye on both my accounts.

 

 

[Padders]

4 minutes ago, The_DADDY said:

I feel your pain.

I regularly accidentally log into pornhub at least twice a week. Damn computers got a mind if it's own 😡

In whom?

Me?

  .

You absolutely crease me Daddy.