A library of snippets
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The reason that none of the retailers in Padstow accept cash is that they cannot deposit it (I asked), unless they want to wait for the weekly mobile van or make a 40 km round trip to the larger town that does have banks. And because they don’t accept cash, cashback is not an option.
From Currency News:
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A man posing as a police officer made off with about 10 million yen ($71,400) in cash and 1.5 kilograms in gold bullion worth 12 million yen or so after conning an elderly woman in Chiryu, Aichi Prefecture, to open the house safe.
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Consumers need an all-American advocacy organization to protect and defend the use of paper cash, checks and money orders for the consumers’ control, freedom and the privacy these payment systems enable.
From Opinion | America Needs a Civic Group to Oppose a Cashless Society | Ralph Nader:
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While renovating their kitchen in July 2019, residents unearthed a salt-glazed earthenware cup burrowed underneath the concrete and floorboards of their home in Ellerby, North Yorkshire.
Rookie detectorist finds huge Iron Age gold hoard in Denmark
The cup, described as being no larger than a soft-drink can, contained more than 260 gold coins dating from 1610 to 1727. The stash of coins has an estimated value of £100,000 ($116,00) in today’s spending power, auctioneers said.
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“Joseph and Sarah clearly distrusted the newly-formed Bank of England, the ‘banknote’ and even the gold coinage of their day because they (chose) to hold onto so many coins dating to the English Civil War and beforehand,” he added.
From Coins worth up to $290,000 found under kitchen floorboards – CNN Style:
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“Effective October 1, 2022, Microsoft will remove the check payment option from new commerce invoices. This change affects only the United States
From Microsoft remembers it’s 2022, says it will no longer accept check payments | TechRadar.
Well, duh. Of course it only affect the United States because no-one else even knows what a cheque are, let alone uses them.
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“The Metaverse? That’s just what we’re calling cyberspace now.” – William Gibson
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The Fidelity Center for Applied Technology recently published a nice summary of the differences between “web2” and “web3”, which they say is a tokenised web that aims to correct the shortcomings of current web infrastructure. Web3 is built on blockchains. It leverages smart contracts and programmable tokens. It allows for Decentralized Autonomous Organizations (DAOs) that coordinate community governance and value management.
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The chief of the UK’s largest ATM network has warned that cash has as little as five years left, as the country’s infrastructure experiences “death by a thousand cuts”.
“The cost of providing cash infrastructure, which includes the ATMs, security and bulk cash centres is huge at £5bn a year,” said John Howells, chief executive at Link. Many of these costs are fixed and will not change as consumers move to digital payments.
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Every year, the U.S. government produces billions of new pennies. Even though a penny is worth only 1 cent, each penny costs about 2 cents to produce. In 2010, 70 million dollars of federal tax money went to subsidizing the existence of the penny, meaning that the U.S. has lost roughly $840 million over the past 12 years to the production of the penny. This is enough money to pay for the Inflation Reduction Act’s alternative fuel and low-emission aviation technology program 2.5 times.
New Data for Progress polling reveals that 58 percent of voters agree that the U.S. government should stop producing new pennies.
From Death to Pennies: A Majority of Voters Support Stopping the Production of New Pennies:
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In September 2021, T-REX Protocol was recognized as ERC-3643
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EIP-3643: T-REX – Token for Regulated EXchanges
An institutional grade security token standard that provides interfaces for the management and compliant transfer of security tokens.
From EIP-3643: T-REX – Token for Regulated EXchanges.
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The ERC3643 is a suite of smart contracts that enables issuers to mint and manage identity-based permissioned tokens to enforce compliance. These tokens only allow users who meet eligibility rules to become token holders by verifying the credentials of users’ digital identities. These credentials are issued by third parties of the issuers’ choices, be it a KYC provider, a bank or a government, etc. The identity-based whitelisting approach makes ERC3643 the most suitable standard for digital securities, as it ensures compliance while enabling on-chain and automated validation processes. Thus, compliant peer-to-peer transfers of digital securities are allowed, enabling their transferability. Aside from ensuring compliance, ERC3643 has more than 120 smart contract functions, enabling issuers to fully control their digital securities such as blocking and unblocking tokens, performing bulk operations and delegating responsibility for operations to third parties. The ERC3643 standard has already been used to tokenise over $28 billion in assets, including stablecoins and all types of assets: fine art, real estate, funds, debt, private equities, bonds, commodities, and more.
From Open-source ERC3643 brings standardisation and interoperability to digital securities.
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