Credit cards, smart phone payments and cryptocurrencies mark the emergence of a cashless economy, but they carry with them a long list of perils and privacy concerns, according to The Fiscal Times.

For example, if the government can access your phone records, can it download your purchasing records too?

“That is a civil liberties concern,” PAIRELATIONS client Scott Shay, chairman of Signature Bank, told The Fiscal Times. “When governments have information they are sometimes tempted to use it, and sometimes they attempt to use it in ways that are not fully vetted by due process.”

Click here to read more from The Fiscal Times.

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