A space for sharing and discussing news related to global current events, technology, and society.
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© 2020 Relevant Protocols Inc.
A space for sharing and discussing news related to global current events, technology, and society.
69462 Members
We'll be adding more communities soon!
© 2020 Relevant Protocols Inc.
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Being reminded of Russian ruble loosing 90% of its value multiple times throughout the 90s and people standing all day in lines to get cash out of banks so that they could spend it before it's totally worthless. "If you’re a vulnerable denizen of the informal economy, an off-the-grid hustler, or a low-income precarious worker, banks and payments intermediaries have little interest in prioritising you. The bank-payments society will not process the activity that takes place in the peripheral cracks that form the basis of your livelihood. Indeed, it is intended to shut down those spaces. That might be characterised as ‘progress’, but equally we might say you’re being firewalled out of the economy in an act of economic cleansing."
Being reminded of Russian ruble loosing 90% of its value multiple times throughout the 90s and people standing all day in lines to get cash out of banks so that they could spend it before it's totally worthless. "If you’re a vulnerable denizen of the informal economy, an off-the-grid hustler, or a low-income precarious worker, banks and payments intermediaries have little interest in prioritising you. The bank-payments society will not process the activity that takes place in the peripheral cracks that form the basis of your livelihood. Indeed, it is intended to shut down those spaces. That might be characterised as ‘progress’, but equally we might say you’re being firewalled out of the economy in an act of economic cleansing."
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