Should the world run on a cashless economy?

[Ayuba Ernest]

There are pros and cons to a cashless economy. On one hand, going cashless would mean that everyone would have access to financial services and no one would be left out of the economy. Plus, it would be easier for the government to track economic activity and prevent crime.


On the other hand, going cashless could mean a loss of privacy, as well as a loss of jobs in the financial sector. Cash is also important for certain transactions, like buying a house or car, that might not be possible without it. Another downside to going cashless is that it could make it easier for the government to control the economy. Finally, some people may not have access to the technology needed to go cashless.

 

[Ithedicious]

If the world have to start running on cashless policy it will really affect a lot of people in the sense that it is not everyone that will really appreciate this idea because cashless policy is something that must slowly be adopted by people before it is generally accepted . It is not something that the government or any other institution has to force it on people. it wouldn't make sense because personally I wouldn't want to carry out a cashless transaction all the time and in most of the things I am doing. .

For now I believe that the world is not yet ready for cashless dealing and even if the government is thinking of adopting this in the future it should slowly be introduced for people to be acquainted with the new technology before we move fully into the era of running and carrying out a transaction without the use of cash.