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British Element Trieste Force 1945 - 1954
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The Pound in Your Pocket.......

If you're anywhere near as old as me, you'll remember devaluation and the assurance we had about "the pound in your pocket". It couldn't happen now; I mentioned the pub in Chester which has a notice on the door saying "Cash only"; it was my son who said it was designed to keep young folks out.

You may have noticed in some places people buying a cup of coffee by showing their phone or waving a card about. In a growing number of places it's cash that isn't accepted; cash can be more expensive for businesses to handle; it's bulky; it has to be counted and stored securely whereas digital cash cannot be stolen and is already in the bank.

I'm afraid we're still in the stone age; we don't have the right apps on our phones for waving. I still have a cheque book but a diminishing use for it.

Re: The Pound in Your Pocket.......

An odd coincidence - the cashless society becomes a newsworthy topic because a chap has opened a pub somewhere which is "cashless"; he explains that it saves him thousands over a year because he doesn't need to go to the bank to pay money in because it's already there. The coincidence - the pub is called "The Boot" - but it isn't the one in Chester.

For the punters, however, there are other problems; when you pay by waving a card or your phone, how do you know how much data is being transferred? How does the process authenticate your payment without backing it up with ?????