Post
Topic
Board Economics
Re: Why we should fear a cashless world
by
gracia0023
on 22/06/2017, 05:38:48 UTC
There are pros and cons of a cashless world.  I believe that one of its positive side is, wherever you go and whatever country you will visit, you don't have to look for a money changer because you can do whatever transaction and pay the bills via online.  On the other hand, poor people will not be benefited.  Many people around the world is still ignorant on how to use technology as part of their daily lives, there are still many people that cannot afford to buy laptop, computers and the like gadgets and do not even know how to use it, so how they can do transaction via online if they do not even know what online means?.  Without cash, It is possible that many people will use the ancient way of exchanging goods "barter" as a way of transactions.  The problem with this is the exact value of goods cannot be determined and that is one thing that we should fear of.