Why Governments Want To Eliminate Cash & Go Digital | Dangers of Cashless Society vs Cash

2 min read


A cashless society has been pondered, demonized and praised for several years now. It all depends on which side of the fence you’re on.

Going cashless would eliminate counterfeit bills and make international transaction much easier. However, it would also mean a greater risk of identity theft and cyber crime.

So, why would governments want to go cashless? One very prominent reason is for tax purposes. Cash transactions can’t be traced or taxed, meaning less money going into the government’s pockets.

Another reason is control. A cashless society would be fully traceable and a government agency would have the ability to freeze any and all assets, should a criminal activity arise.

With the popularity and continued spread of cryptocurrency, the paperless venue appears to be getting stronger. NumisMe now has a platform that also digitizes change.

If there was ever a universal truth to which we could all agree, it would be change. An unequivocal reality of the cosmos, change is constant. Despite emotions, thoughts, or actions, change is an unstoppable force for which there is no immovable object. As creatures of comfort and habit, we often go out of our way to avoid or ignore changes, negative and beneficial.

The world’s financial systems are no exception to this universal law. Technological improvements have progressed the digitization of currency, moving us closer to cashless societies and away from physically held currency. Many people fear this technological shift with our monetary system will be government controlled, leading to the loss of financial freedom. Therefore private and/or decentralized organizations are essential moving forward. These improvements in technology also make innovative tools possible, which can provide people more control and power over their finances than ever before. NumisMe is one of those innovations, and may forever change the way the world thinks about physical change.

It’s time for ¢hange

Physical currencies and loose change are on their way towards extinction. Physical money can be lost, stolen, damaged, even intentionally thrown away due to its perceived lack of value or cumbersome nature.This attrition results in billions of dollars disappearing every year. Imagine making a cash purchase without the need to receive physical change, but instead receive it electronically? What if we were free to send, spend, or save our digitized cash and coins as we see fit, and also invest it through the world of decentralized finance?

What is NumisMe?

Built on the concept of progressive decentralization, NumisMe is the only crypto purchasing cash protocol committed to the digitization of all loose change. Powered by NUME, the world’s first cryptocurrency which can be bought directly with cash, saving and investing has never been easier. When a cash purchase occurs, a customer can choose to “NumisMe” the remaining change directly into their APP. Participating retailers then scan the QR code displayed by the customer’s NumisMe app, using the merchant software integrated with their POS system, triggering an immediate electronic ACH transfer. The possibilities with this onramp from fiat to digital currency is unprecedented.

What does NumisMe do?

Users can store and save their change securely in the NumisMe APP. As a digital store of funds, NumisMe can also provide a debit card, virtual or physical, to fulfill banking roles and offer a digital on ramp to those without traditional banking services, requiring only Wi-Fi to do so. NumisMe offers many services offered by traditional banks such as account and transaction viewing and balance sheets. By connecting a bank account, users can choose to send accumulated change from the NumisMe app to that bank account. The app also offers a peer to peer function allowing users to send funds to anyone, anywhere, anytime, provided they’re a NumisMe APP user.

At its innovative core, NumisMe users can instantly purchase the company’s ERC-20 NUME tokens with their saved change. This allows them to reap the benefits of RFI-static rewards for holding NUME. Users can also choose to stake their NUME into a DeFi savings account, resulting in additional growth beyond holding the token. With the door to DeFi opened through purchasing NUME, the ability to swap their NUME with Ethereum or other ERC-20 tokens becomes possible. NumisMe provides those without banking access a gateway into crypto, and serves as an alternative outlet for those affected by cryptocurrency restrictions or bans from regional regulations and centralized banking. NumisMe hopes to significantly increase the adoption of crypto globally, by providing a direct avenue to crypto and removing the middlemen.

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