andrearossouw

Equal Money FAQ 11 – What will the Equal Money look like – how will it work?

In The 'Money' of an Equal Money System on February 2, 2012 at 9:38 am

Most practical would be to have all the money be digital – because then it can simply be send from one (or many) central point(s) to all the individual accounts. Which would then require digital payment technology at every shop/store/warehouse and chip-technology. So it will be very similar to the payment systems that are already in place.

The type of biometric identification depends on the technological advancements that are most suitable for authentication purposes. The current biometric state of the art technology includes DNA readers, palm and fingerprint recognition, and iris scanners. Embedded technology is also a possibility, such as chip implants that are read via RFID.

The point here is to have a digital system which can also be implemented through using bankcards which already have a chip in it for further security.
Another reason why digital money is preferable – is that just as easy as the money is created, it must be able to be deleted. This would happen as soon as the money is used at the first payment. When I for instance buy myself a pair of shoes, that amount of money that I’ve just spent will not be ‘transferred’ from my account to the account of the store, it will instead be deleted from my account. Because remember: the purpose of the money is to make sure there is equal access for all to basic living-resources. Therefore once the money has served its purpose, there is no reason anymore for it to exist.

Within this, the money could be distributed either as a monthly or as an annual income.
So, yes – the entire experience of what money is and how we use it, will certainly change.

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