Thread by @akhilpachori

Imagine if a disaster hits a city/state/country and power supplies is cut 😬

#CoalShortageInIndia #CoalCrisis #cashlesseconomy

If you do not have cash in hand and rely totally on electronic payment, then you are finished 😱🤕

Worth a read Thread...

1/n

The cashless society is difficult to face war and disaster

Japan's Hokkaido strong earthquake triggered a large-scale power outage, and Sapporo City instantly became the dark capital

2/n

During this period, 1.95 million residents rushed to supermarkets and retail stores to buy life supplies

However, some of the victims who usually only use mobile phones have lost their ability to pay and can't buy what they need

3/n

On Sept 6th, an anonymous discussion on the anonymous forum of the Japan Forum showed an article about crazy electronic payment

The Sapporo people who only uses electronic payment is finished!, the article said

4/n

I usually used to use Apple Pay (Pingguo pay), go out without a wallet, and very little cash

In the early hours of the morning, after the strong earthquake, Sapporo suffered a large power outage

He checked his refrigerator and found that only milk and mayonnaise remained

5/n

He rushed to the supermarket to buy living materials

When he arrived at the supermarket, he found that he had no cash at all

He took the iPhone with only 62% of the battery and looked at the Apple Pay screen on his mobile phone

He felt uneasy

6/n

When his number came in queue, the clerk told that he could not use the electronic paying

He can't use it anywhere else

At 7:00 that night, he sat alone at home, hungry

Since the power is not back, cash can't be taken out and there is a feeling that everything is finished

7/n

In February of this year, the Swedish central bank governor Stefan Ingves warned:

He said that the cashless society is unrestrained in the face of war or natural disasters, and the huge social and financial system will collapse in an instant

8/n

Payment function is one of the four functions that money needs to have

Cashless payment is just a supplement to it because it can not be replaced by specific basic conditions (electricity, network, base station, etc.)

9/n

The Sapporo is still fortunate

The earthquake gave everyone a lesson and can correctly understand cash payments and cashless payments

If the large-scale war breaks out and there is a long-term disconnection or power outage, the encounter will be even more serious

10/n

Imagine if disaster hits our country and power supplies is cut 😬

If you do not have enough cash in hand and rely totally on electronic payment, then you are finished 😱🤕

We should always have cash for at least one month at home

END OF THREAD

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