Surveillance, control and profit.
Charged to keep your digital account. There is no alternative in a cashless society.
Your life is data banked through your transactions. “Why are you buying so much…fill in the blank?
A flick of the switch and access to your “money” is stopped. You will be like Kafka’s “K”.
All over the western world banks are shutting down cash machinesand branches. They are trying to push you into using their digital payments and digital banking infrastructure. Just like Google wants everyone to access and navigate the broader internet via its privately controlled search portal, so financial institutions want everyone to access and navigate the broader economy through their systems.
Another aim is to cut costs in order to boost profits. Branches require staff. Replacing them with standardised self-service apps allows the senior managers of financial institutions to directly control and monitor interactions with customers. Read the rest of this entry »
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