Is the World Ready for Cashless Currency?

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49 comments Page 1 of 5.

Akshay said:   2 months ago
In my opinion, cashless currency is a huge boost for the growth of an economy. As we all know India is facing a big problem which is existence of black money. Central government has introduced UPI which was a nice decision, as huge chunk of people have moved to making the transactions online, it is an early sign of growth.

Simra Bishnoi said:   3 months ago
Not really, as we all aware about the literacy rate in India is very high as compared to the literacy rate.

Most of the Indians does not even know how to use an android phone.

Now talking about other countries they might be ready for the cashless currency.

In my opinion, China has lost the maximum citizen of their currency because of corona and now they have are very in number and most of the people living there are old, so as well all know old people don't get technology very easily it takes time to learn, for them it is not easy so China is not ready for Cashless currency this my point of view.

Pratiksha sanam said:   3 months ago
Yes, this topic is very relevant to this generation because nowadays most people can do there all their work by online payment so all that people are doing and follow a cashless way.

But it's a good way the taking and keeps a pocket always with you wherever you go You don't need to use it that way you just carry your ATM card or else phone all transactions it will be successful. But it's most disadvantage cyber crime also day by day technology is increasing so that cybercrime is also increasing day by day.

so, that will be more affected to the cashless monye.

So that, In my point of view, it's also good too and also the world is ready to face all problems and also find a solution so that world is also ready for cashless currency.

Chandra Prakash Verma said:   4 months ago
Yes, in point of view, guys today We suffer from getting cash due to Notebandi.

That's why in my opinion cashless currency is best for our Indian youth and also all people who know about the internet and net banking also. But the disadvantages is cybercrime and payment field issue and lack of knowledge about Banking knowledge and its terms and conditions also.

Thank you All.

Vikram said:   5 months ago
Yes, I think the world is ready for the cashless currency because the cashless currency helps in many ways preventing viruses on the cash while handing them at covid19 time this was very helpful that time and nowadays people are storing black money in their home so it also stops black money and it helps in Indian GDP we all know that cashless currency has good and bad as well because of cashless currency there are security issues and there is no privacy.

Thank you for listening me patiently.

Arun said:   1 year ago
Hello Everyone,

This topic is very relevant in the present scenario.

Here, I can say that it's not the time to adopt the cashless currency. As covid-19 hit the whole world very badly and for that reason we have seen that many people started using online transactions to avoid the spread of the virus while handing over money. But while doing such online transactions many problems have arisen like network problems, lack of proper knowledge while making payment, bank server issues. We can see here the problems and add with that there are infrastructure problems, many people don't have smartphones and proper internet connection. If we go for cashless currency there are also chances for flaws in the system from where anyone can get personal information as we have already seen before.

For these reasons, we are not ready for cashless currency.

Thank you.

Shadma said:   2 years ago
The coin has two sides, similarly this topic "Is world Ready for Cashless Currency" has both advantages and disadvantages. Like we can't directly say the world should shift into cashless currency. Taking about the advantages, like our country India is no 1 in digital payment just because of UPI after demonetization in the year 2016. Just by carrying our phone, we can go to the market, buy different kinds of stuff, and there is no fear of pickpocketing. In case our mobile got stolen we can just clear our data from the pc's, also there is a password before doing any payment through UPI. As a result, there is no risk of getting affected in case our phone got stolen. Now looking into the other side, there are times when there is network issues. We have to wait till the time the payment is getting successfully. Sometimes we have to return without buying anything. The next thing is we are hugely prone to cybercrime. This is the main disadvantage of the Cashless system. I want to conclude that we should have to keep some amount of cash for emergencies and have to be aware of cybercrime. Thank you.

Manisha said:   2 years ago
Hi everyone,

This topic is quite interesting to discuss as everyone in the world is not ready for cashless currency. As there are some developing and underdeveloped countries are there which still doesn't have a strong network connection and also awareness is not there. So, first of all some steps have to be taken to get the world ready for cashless currency -.

A strong network connection should be provided everywhere in the world.

Smartphones required for cashless currency.
Awareness and education should be given to peoples about cashless currency.
Cybersecurity should be improved.

By doing all these measures we can achieve cashless currency in the world. Now we will see the advantages of cashless currency-.

It saves a lot of time and it's very convenient.

The safest measure of payments no risk of robbery and no need to carry much cash with us.

No expenditure required to print currency.

No worries to count much cash and also no chances of error as we don't need to count it.

But before all these, we have to take some steps to get ready for it.

Thanks a lot!

Dnyaneshwar Doke said:   2 years ago
Every new thing is quite difficult initially but once it become routine it will be more helpful to us. Cashless currency is an advantage to everyone but it will be more convenient to workers who are not always ready to connect with banks at all times. Cashless economy will save time of ours and it will become easy for transaction of money.

Now-a-days we see that almost each person (atleast one) in a home have android mobile phones which will be suitable for transactions of money. As these android applictions are not very tough to handle everyone can able to drive it. Some basic and easy steps we have to follow.

There's present 4G connections at every places even in rural area also, hence thse problems also can be resolved.

Zoey said:   2 years ago
Hi, everyone,

To begin with, a cashless economy is an impactful topic where one can express many thoughts about it. However, the cashless economy is a good topic to discuss and debate but is it applicable now? The question remains unanswered. A shift to the cashless economy means the world and India is ready for a substantial change however, while some may be ready others may not. The cashless economy revolves more around the more developing countries where such technology is feasible. But the World around may not be ready for it. I was really impressed by one participant when he said that for the cashless economy we need a smartphone for it to operate which I believe is true one cannot have access to such technology without a smartphone. Internet connection plays a vital role in such functioning as well. But another aspect is the willingness to operate while some may agree some may be hesitant because of lack of information or negligence. Poor and underdeveloped countries may not be willing to switch because of many economic, political, social reasons which have to be taken into consideration. Thus we can conclude that the World and India are not ready for a cashless economy.

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