A moneyless economy in the future ?

in the age of the electronic computer, there is less and less need to carry currency or even to have Upon one ’s checkbook. A credit card serves increasingly for most transactions . Governor George Mitchell of the federal reserve board looked ahead to envision the day when , by telephone or automatic insertion of a counterfeiter card into computer terminal , central memory and data banks will record most transactions , money as a unit of account will still its function; but anything so crude as a poker chip, coin , or bill will be largely dispensed with in favor of records that automatically balance out each person is in payments and out payment over a lifetime.