Will the Future Global Society be Cashless? -- War on Cash -- Economic Collapse -- Stock Market Crash 4K Cashless payments are on the rise. They are fast, easy, and convenient. Worldwide, cashless transactions have become the norm.
All over the western world, banks are shutting down cash machines and branches. They are trying to push you into using their digital payments and digital banking infrastructure.
Sweden Is On The Verge Of Going Completely Cashless. India and China are following the trail.
The Swedish central bank, predicts that cash transactions will make up less than 0.5% of the value of all payments made in the country in 2020
Now in China, in places like food courts and some McDonalds, you cannot use cash.
Welcome to Atlantis Report.
A Cashless society is a vision for the future. With the rapid increase in technologies ranging from debit and credit cards to technologies like Apple Pay and Samsung Pay, hard and fast cash is becoming redundant and thus a day is not far when we will do away with cash and checks. And thus this society which doesn't use cash is also termed as check-less society.
Talking a bit further, the obvious advantages are:-
Firstly, we would able to track our money right to the last cent, penny or paise which we find cumbersome with currency notes and coins. Finally you won't lose 25 paise buying a commodity which costs ₹ 75.75.( Americans and Europeans won't mind that much as they are still able to use their cents and pennies but still who hates convenience)
Secondly, convenience. It's so liberating to not desperately counting your money in front of the shopkeeper.
Safety. You don't risk losing your money and in case even if you lose your debit card or phone, no one can misuse it without your pin code or even better fingerprint(maybe even without your iris). And even better you can simply block your cards promptly and thus no one can use the cards even if they are hackers. You can obviously not block someone from using hard cash.
Go green..! Not just green it would free up quite a bit of man power and natural resources which are utilised in minting money.
Disadvantages-
One would sorely miss the smell of freshly minted notes and the reliability and comfort hard and fast cash provides.
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recommended economic and financial books :
Destined for War: Can America and China Escape Thucydides's Trap?
How an Economy Grows and Why It Crashes by Peter Schiff :
Bitcoin: The End Of Money As We Know It
The Death of Money: The Coming Collapse of the International Monetary System
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