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go banknote less

go banknote less. Imagine:. Europe (EC, EC, ECB…) decides:. From Jan the 1 st through Dec the 31 st 2013, the 500 €, 200 €, 100 €, 50 €, 20€, 10€ and 5€ banknotes cease from circulating. Maybe a new 5 € coin is introduced. Then what?.

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go banknote less

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  1. gobanknoteless • Imagine:

  2. Europe (EC,EC, ECB…) decides: • From Jan the 1st through Dec the 31st 2013, the 500 €, 200 €, 100 €, 50 €, 20€, 10€ and 5€ banknotes cease from circulating. • Maybe a new 5 € coin is introduced.

  3. Then what? Thereon only credit or debit cards or internet or mobile banking transactions are in use, and the very small ones by coins

  4. Results: Total income of each financial entity taxed. Aim for a real time taxation system. 2. GDP of total new magnitude and increased state revenues. Full transparency of prices everywhere, additional increase in tax revenue

  5. direct effects (continued) 3. Reduce tax rates - enhance development. 4. Immediate – Now and not at … 2020 - correction of current correlation (160%!) between debt and GDP of Greece and the rest southern MS that will stop their framing as …PIIGS.

  6. Indirect effects (..far more important) No more money-related violent crime. (passion and hatred will still go on!) 2. No profit from drug dealing, human trafficking, gun smuggling, abductions, extortion, bribing, or illegal immigration! 3. No more risk of robberies, burglaries, thefts, kidnappings, etc., as well as bribery, corruption, blackmail, etc.

  7. Difference from other proposals : it does not merely prohibit or discourage use of cash – apparently banknotes – in trade of a certain magnitude. It eliminates it!

  8. MATURITY: Now it is possible. M-pesa in Kenya, Paga in Nigeria, Google wallet and a plenty of apps, show the way. Non immediately tangible and portable values’ (bonds, cadastre) systems are already used.

  9. The Europe case European Union surpasses any other territory in terms of ICT infrastructure, digital literacy, living standards, common sense for action and innovative steps. Due to all these it is obviously in better position. Euro zone will additionally solve at the most gentle and civilized way the illegal immigration problem.

  10. use of coins for newspaper, bread, Candle Stands, charity, etc The use of coins retains the existing and well rooted relationship of Christians with the candle lit, and does not trigger any justified formal reaction

  11. OPPOSING: Organized crime. Tax fraudsters. Whoever used to live on bribery.

  12. worries / objections Surveillance and personal data concerns is responded by the fact that blind digital signatures have quite a few years ago resolved the matter. Secrecy and safety of our passwords is also widely affirmed and well accepted. Elderly people already use ATMs and mobiles, unexpectedly well.

  13. Some numbers Total Euro coin quantity sums 23,073 M€ with the 5euro banknotes summing 7,700 M€ (in a 888,600 M€ of total euro banknotes). This further corresponds to 103 € per person for each one of the 300 millions economically active Euro zone citizens, well beyond needs, assuming a weekly “refill”.

  14. systemic remark: Does not affect the capitalist system. It can be applied in the framework of the existing system as is. It also adds exceptionally increased liquidity for banks !

  15. nature of the proposal This proposal must be considered as a purely technical one and only as a tool that does not address the political side issues whatsoever.

  16. Physical / logical explanation: The information about the value on each banknote designates the given fraction of the total money as the property of the bearer.

  17. Now we have the possibility, (through ICT) to achieve THE change: Instead of having this information on paper that is handed from the payer to the payee, REPLACE it with the remote transfer of the information of ownership between the accounts of these two individuals.

  18. What to do: Enlighten them, but make it quick! we must persuade European governments at least to publicly discuss, study and eventually adopt the proposal NOW! Not after 20 or 30 years.

  19. communication All remarks and discussion to be posted at: gobanknoteless.wordpress.com

  20. You may say I'm a dreamer, but…. ….am I the only one? Thank you all

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