My concerns about a cashless society are the power it hands to a few oligopolistic credit card processors. Look at what happened to Pornhub. Regardless of whether you think Pornhub was in the wrong, it is striking that a business was cut off from global financial system by a small number of credit card companies. This was done without due process and under no countries laws. That should scare us at least a little.
Businesses are one thing, but what I find truly dystopic about the idea of 100% cashless societies is that you could off people in the same way. If today, you lose access to your bank account for whatever reason, you still have various options how to purchase necessities: If you got some spare cash, you could use that; otherwise you could ask a friend to lend you some cash. In a cashless society, that won't work: Eve…
Many porn actors have been blacklisted from the US banking system.
Conservatives got tired of losing US supreme court cases over censorship laws and regulations and shifted to enforcing their morals via the private banking system.
Ever notice that there's no law or regulation requiring banks provide even basic checking service to anyone who can establish a valid identity?
Going cashless cannot happen unless either the government starts providing essential (checking, savings, credit card, and home/personal/auto financing) services they are mandated to provide to everyone (which will never happen because the banking industry would lose a ton of control) or banks must be mandated to provide non-lending services to anyone and provide lending on an identity-blind basis (ie, only metrics may be used, none which identify the type of banking or business or employment or spending you do.)