We got hacked so bad that you all lost all your money. Use this entirely computerized form of money to account for our lax cyber security.
More likely there will be a large scale identity crisis requiring a new digital government ID instead of relying on the social security numbers (which weren't supposed to be used for identification when they were adopted).
Of course then the digital ID will be tied to banking and eventually an entirely digital currency will be adopted. The old currency will be devalued and the favorable exchange rates to the new one will drive the population to accept it. The old one will rapidly depreciate.
The digital currency will be accepted for tax payments while the old one will not.
>We got hacked so bad that you all lost all your money. Use this entirely computerized form of money to account for our lax cyber security.
More likely there will be a large scale identity crisis requiring a new digital government ID instead of relying on the social security numbers (which weren't supposed to be used for identification when they were adopted).
Of course then the digital ID will be tied to banking and eventually an entirely digital currency will be adopted. The old currency will be devalued and the favorable exchange rates to the new one will drive the population to accept it. The old one will rapidly depreciate.
The digital currency will be accepted for tax payments while the old one will not.
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