I've always thought a chip is a perfect way to end the drug war. Can't buy drugs if the .gov knows you're buying them, but no way on earth I'd agree to the government knowing everyone's spending habits and having the ability to turn your chip off and erasing your money.
Of going cashless? Why is that? Not that this would ever happen in the US. Christ, we cannot get rid of the dollar bill no matter how hard we try.
Why would i want to give up that level of control and security for a perk that I already. Plus it leads to more wasteful spending.