It is too hot to write anything worthwhile; but, I came across this article and thought I might post it and throw out a couple of thoughts.
Reuters - Starbucks and Square want your phone to be your wallet
Now, if your phone is going to be your wallet and currency is electronic then what happens when you go somewhere with no cell phone reception? Also what happens if your cell phone is lost or stolen or broken? It won't matter because you will be able to use any cell phone once it recognizes your biometrics and logs you into your account.
What will it take to convince grandma and grandpa to stop using cash? That will require an epic event.
Reuters - Chicago Tribune - Exclusive: U.S. banks told to make plans for preventing collapse
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