<i>Unlike regular debit cards, the Eagle Cash is managed on-base, using batch processing which ensures that the cards remained useful even when connections to banks and credit unions State-side are severed.</i><p>This is really the whole point, but it's buried in the third paragraph. These cards work when the internet and all other communication with the outside world are down.<p>Replacing physical currency in that scenario is really difficult.
The US military has had some innovative payments ideas.<p>An occupying force prefers to use a money that 1) doesn't dollarize the nation they are occupying 2) can be tracked, thus thwarting black marketeers 3) is lightweight 4) if they lose, the enemy can't reuse it<p>Unfortunately, dollar bills are bulky, infiltrate local economies, and aren't enemy-resistant.<p>So we get innovations like EagleCash, which solves a lot of these problems.<p>Other payments ideas emanating from the military include Military Payment Certificates (<a href="https://jpkoning.blogspot.com/2017/04/c-day-and-military-money.html" rel="nofollow">https://jpkoning.blogspot.com/2017/04/c-day-and-military-mon...</a>), overstamped currency ( <a href="https://twitter.com/jp_koning/status/1343874636480729088" rel="nofollow">https://twitter.com/jp_koning/status/1343874636480729088</a>) and pogs (<a href="http://numispedia.org/AAFES/" rel="nofollow">http://numispedia.org/AAFES/</a>).
Wait until you guys see the prices for the "AAFES POGS" on ebay ...<p>Basically while you can use cash, coins are too heavy to justify shipping into country. AAFES instead prints "gift certificates" in the shape of a pog, in 0.05, 0.10, 0.25 denominations.<p>The resale value on these is hilariously high ... these are federally issued mediums of exchange being currency except in name only. And only useable in deployed locations.
> <i>This method allows soldiers to purchase goods and services at U.S. military posts and canteens, without carrying cash, or manage their personal bank accounts while on deployment or in training. The program reduces the amount of American currency required overseas, reduces theft, saves thousands of man-hours in labor, helps reduce the risk of transporting cash in combat environments, and increases security and convenience for service members.</i><p>It also prevents soldiers from being able to trade easily with anyone who isn't an authorized card terminal user.
Microsoft uses something similar for their on-campus cafeterias. All Microsoft employees are issued a RFID card with a chip that functions as a door access card, visual ID (it has your photo/name/employee number on it), smartcard for 2FA (this is being phased out in favor of TPM-based device registration), and cafeteria payment system. You can elect to have some percentage of your paycheck automatically loaded on the card. I used it for a bit early on in my employment, but then switched to paying with credit card (like almost everyone else I know).
Huh. I was in the Air Force from 2005-2010 and I literally never saw this. I was at LSA Anaconda in Iraq too (mentioned in the article) ... must be an Army thing?
This sounds like a better alternative to bitcoin! I guess it requires a trusted central authority, but for most users that's a feature not a bug, and it sounds like it has a load of advantages:<p>- Faster transactions<p>- Can work "offline" (to some extent)<p>- No wasted energy calculating redundant sha256<p>- Able to rectify fraudulent transactions
I'm reminded of the episode of M<i>A</i>S*H where they are exchanging one color of scrip for another [0], and the hijinx [1] that ensues.<p>[0] <a href="https://mash.fandom.com/wiki/Change_Day_(TV_series_episode)" rel="nofollow">https://mash.fandom.com/wiki/Change_Day_(TV_series_episode)</a><p>[1] Triple word score for a word with three dotted letters in a row.
Interesting.<p>How does this thing solve the "double spend problem" [0].<p>Without needing network access?<p>You usually need server communication in electronics payment systems to confirm payment & update account balances. How does Eagle Cash solve this problem?<p>[0]: <a href="https://www.investopedia.com/terms/d/doublespending.asp" rel="nofollow">https://www.investopedia.com/terms/d/doublespending.asp</a>
Similar topic: <a href="https://en.wikipedia.org/wiki/FeliCa" rel="nofollow">https://en.wikipedia.org/wiki/FeliCa</a>
This was a common practice in the 19th century, paying workers in company chit that was only good at the company store. The practice might come back if the economic conditions are right.
This is an electronic form of "scrip".<p>The risk is that it gives the script system owner control over the value of money.<p><a href="https://en.m.wikipedia.org/wiki/Scrip" rel="nofollow">https://en.m.wikipedia.org/wiki/Scrip</a>
With upcoming satellite internet projects (see Starlink), I think it will be highly unlikely to disconnect any army base totally from the internet. In such scenarios, any centralized service would be much more efficient, secure and convenient. Soldiers can also use cryptocurrencies for trade among themselves, without needing to carry cash.