Tag: cash

Meet The Community That Always Seem To Win Online Sweepstakes

The Hustle profiles a community for whom entering online sweepstakes are a way of life. And they “consistently land hundreds of prizes year after year — vacation packages, cars, event tickets, electronics, and cash — and their hauls sometimes amount to tens of thousands of dollars…” “Winning online sweepstakes is supposedly an act of pure luck — but some contestants claim…

Hong Kong Protests ‘Show The Dangers of a Cashless Society’

“Allowing cash to die would be a grave mistake. A cashless society is a surveillance society,” writes Reason, adding that “The recent round of protests in Hong Kong highlights exactly what we have to lose…” schwit1 shared their report: [T]ens of thousands of Hongkongers took to the streets to protest what they saw as creeping tyranny from a powerful threat. But…

International Crime Ring Suspected in 7-Eleven App Breach

On Monday, 7-Eleven launched a smartphone payment service for its 20,000 stores in Japan. By Thursday $510,000 had been stolen from the people using it — as many as 900 customers. Long-time Slashdot reader shanen shared this follow-up article, which points out that it’s also possible that email addresses and birth dates have been accessed from among the new app’s 1.5…

Regal Cinemas Readying Unlimited Ticket Subscription Program

Regal Cinemas is prepping to launch a new unlimited movie ticket subscriptions service at the end of July in the U.S. Deadline has the details: There will be three tiers of pricing, which work out to $18, $21 and $24 per month, each granting access to unlimited tickets (really). While the monthly price of AMC Stubs A-List movie ticket subscription program…

Does Monopoly’s Cash-Free AI Banker Teach the Wrong Lessons?

“An updated version of the classic board game Monopoly has done away with cash entirely and now uses a voice-activated AI banker instead,” reports MarketWatch, asking whether this teaches game-players the wrong lessons: This is not the first time Monopoly has reflected today’s cashless world. A 2006 edition of the game in the United Kingdom featured Visa-branded credit cards instead of…

Honesty is Majority Policy in Lost Wallet Experiment

If you find a wallet stuffed with bank notes, do you pocket the cash or track down the owner to return it? We can each speak for ourselves, but now a team of economists have put the unsuspecting public to the test in a mass social experiment involving 17,000 “lost” wallets in 40 countries. From a report: They found that a…

Facebook Co-founder Chris Hughes Says Libra Will Empower Corporations and Weaken Developing Countries, Urges Global Regulators To Act Now

In May, Facebook co-founder Chris Hughes shocked many when he expressed grave concerns about Facebook’s CEO, its business and its impact on the world. He went as far as suggesting that Facebook should be broken up. Two months later, Hughes has another interesting remark to share. He has warned that Facebook’s new planned digital currency Libra would shift monetary power to…

Report Finds Quadriga Founder Stole Clients’ Cryptocurrency Before Death

lazarus writes: As part of the investigation being done by Ernst & Young into the mismanagement of client’s cash and cryptocurrency at Quadriga Fintech Solutions Corp they have found that the late founder and CEO Gerald Cotten transferred client’s cryptocurrency to personal accounts on rival exchanges and heavily traded on them. “Competitor exchanges received multiple forms of cryptocurrencies from Quadriga wallets…

Bank of America CEO: ‘We Want a Cashless Society’

An anonymous reader quotes a report from Yahoo Finance: Bank of America CEO Brian Moynihan embraced the digital money movement on Wednesday, saying his firm has “more to gain than anybody” from the booming trend of non-cash transactions. “We want a cashless society,” Moynihan, who heads up the second largest U.S. bank, told attendees at Fortune’s Brainstorm Finance conference. He pointed…