Any move toward a completely cashless society is the end-game of tyranny. You don’t have to be a conspiracy theorist; there is no conspiracy. It’s happening in front of us right now: A New Digital Cash System Was Just Unveiled At A Secret Meeting For Bankers In New York
Using cash, a check, a credit card, or a debit card is about the choice of the customer and the business; banks and the government have always had a very limited role in this process. The government taxes – steals, as some libertarians would suggest – the earnings of the individual and the business; the bank issues fees – steals and manipulates, in many ways, as some on the left would suggest – the user of the cost of more complicated transactions. With this proposal though, the banks and the government are colluding; they will have a role in nearly everything you do outside of direct bartering which is rare compared to the past.
Think there is a identity fraud problem now? Wait until this happens.
One of the commenters makes an interesting point about this being the big bank’s bitcoin. The only difference is that participation in bitcoin – like the stock market – is a choice. This would be mandatory.
Never mind the Biblical implication of this – Revelation 13:17:

“And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.”

You don’t have to have Judeo-Christian values to see the danger in all of this. From the article:

“The global push toward a cashless society is only going to intensify, because banks and governments both tend to really like the idea of such a system. Banks really like the concept of a cashless society because it would force everyone to be their customers … Under a cashless system, we would all be dependent on the banks, and they would make lots of money whenever we swiped our cards or our “chips” were scanned.
Governments see a lot of advantages in a cashless society as well. They tell us that they would be able to crack down on drug dealers, tax evaders, terrorists and money launderers, but the truth is that it would enable them to watch, track, monitor and control virtually all of our financial transactions. Our lives would become open books to the government, and financial privacy would be a thing of the past.
In addition, the potential for tyranny would be absolutely off the charts. Just imagine a world where the government could serve as the gatekeeper for who is allowed to use the cashless system and who is not.”