30 Jul '12, 5pm

Doesn't anyone at Fortune know about #bitcoin? The Death of Cash

Doesn't anyone at Fortune know about #bitcoin? The Death of Cash

Yet once these issues are sorted out -- and with so many billions at stake, they will be -- cash will find itself on the endangered-species list. Paying by phone will be as transformative as the advent of the credit card in the 1950s. It will change the way we shop and bank. With powerful smartphones and tablets taking center stage on both sides of the checkout counter, it will reshape the relationship between buyer and seller. Not only will the phone or the tablet become a wallet for consumers, but it will also turn into a credit card reader and a register for merchants. Shoppers will use their mobile device as a coupon book, a comparison-shopping tool, and a repository of those unwieldy loyalty cards they carry from everyone from giant retail chains to the corner bakery. And your smartphones will serve as beacons that will alert a retailer when you walk into its store so...

Full article: http://tech.fortune.cnn.com/2012/07/09/dorsey-square-deat...

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