Cashless society
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In a cashless society, financial transactions are not conducted with physical banknotes or coins, but instead with digital information. Cashless societies have existed from the time when human society
A consumer pays for coffee using Apple Pay on their iPhone and a Square reader.
Cash being used to purchase cocaine in Berlin, 1929.
Legal tender
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Legal tender is a form of money that the law recognises as valid for the discharge of a monetary debt in a jurisdiction. What constitutes legal tender varies between jurisdictions.
Cashless society
…Virtual currency Legal tender Mass surveillance…
Detail of the obverse of a Series 1950 United States ten-dollar bill, showing the phrase "This note is legal tender for all debts, public and private, and is redeemable in lawful money at the United States Treasury, or at any Federal Reserve Bank." This phrase was subsequently shortened in later issues to "This note is legal tender for all debts, public and private."
Indian rupees were stamped with Government of Pakistan to be used as legal tenders in the new state of Pakistan in 1947.