Is the World Ready for Cashless Currency?

Hello friends,

In my point of view, the world is not completely ready for the cashless currency because it is only helpful for the people who are educated or lives in town area where has internet connections, otherwise it is not helping the people who are don't know the use of mobile or not educated. And after all these some of the place having slow internet access that's why some people are suffering badly like sometime during the transaction, the transaction is stopped and later it is very difficult to refund. After solving all the problem, the world can ready for the cashless currency.

Thank you.

In my point to view, the cashless currency will be good if a country has no other issue like poverty and internet issue. In India, it is very hard to implement cashless currency. Here lots of people still live on other dependencies. Like many beggars live in Jhoparpatti and they asked for money from us in train Or buses. In cashless currency how we help them? In that way, we cannot give them money for help. Cashless is not fully safe. We have seen Ransomware attack in a European country. Hackers hack the important file of many people. It is very easy to hack other accounts within a min for hackers It's is not guaranty that your money is safe. Firstly, we have to start from the bottom.

Hello everyone !

What is cashless currency?

Cashless currency means you are doing transaction digitally without involving printed paper notes or coins.

So today our topic is "Is the world ready for cashless currency?".

So as per my opinion, no whole world is not ready for the cashless economy but if developed countries give some supply to the underdeveloped and developing countries so it becomes possible.

Problems because of the world not ready for cashless currency.

1. Many countries are underdeveloping so there is no electricity, no network so it can not be possible.

2. The technology of underdeveloped and developing countries are not so good so they can not handle it.

3. Connectivity of the network is not so good.

4. Illiteracy of these countries is also a big issue for cashless currency.

5. Hacking or spying is also a big issue.

7. Leakage of personal information because of unawareness.

8. For cashless currency, the minimum requirement is a mobile phone but there are present many countries which are not able to fulfil their basic needs.

So the conclusion is that first we focus on the basic needs of the countries and also should focus on cashless currency.

Thank you.

Good morning everyone my name is Vikas. As per my point of view, cashless currency is very useful for every people. We don't need to keep money in our pocket and chances of thieve your money is reduce. Fear in the people heart has been vanished now a days. However world is not completely ready for cashless money. People who are from villages are not able to understand cashless currency and they are not interested in this. For awareness of cashless currency, the Indian government should take the seminar for developing interest and conveying benefits of cashless money.

Hello everyone, today we are going to discuss about cashless transaction. Yes, in India 70% of then are doing now cashless transaction through net banking, Patym, Google pay, phone pay soon. Remaining of them who are come from villages, uneducated people are not ready to do by they not able to understand. Anyway, nowadays India is digitalized. It helps to control of black money and corruption. It leads to a growth country.

So we need to support the cashless transaction by giving awareness about it.

Yeah. First of all, thank you so much for giving the opportunity. Myself I'm Aslaam. So now coming to our topic, the topic is cashless currency.

1. Nowadays digital marketing is the very fastest growing thing. We would like to continue this up to our next generations. A few years back we don't know about ATM, CDM, Net banking, Mobile banking, etc.

But now we know very well about that all things. As same as some villagers also don't know about the above things. But now they using very well even uneducated people's also.

I think in future those who are villagers also can know how to use digital marketing. Paperless transactions.

When we are using paperless work even we can reduce global warming also.

Hi,

Thank you for giving an opportunity for me to share my knowledge on this topic.

According to me, the world is not ready because all the people don't know how to use online because some people are from the village and some are uneducated and some people fear about online problems because of this all are not ready to cashless currency.

Let me first what is cashless currency.

Cashless currency: transaction of money online without using printed paper notes and coins.

At present scenario, some countries are developed and some countries are not developed, so the world is not ready for cashless currency.

Problems faced by underdeveloped countries:

1. The basic need for cashless currency is a smartphone which cannot be affordable by some people.

2. The network connection is not good throughout the world, which leads to transaction failure.

3. Hacking of system, where every information is will be taken.

4. Some people do not know how to operate a smartphone.

5. Everyone should have a bank account.

So now the world is not ready for cashless currency. But in future, it can be.

On, when we talk about full dependency on cashless currency then there will be issues like. Affordable smartphones/desktops to use different payment online modes, 24X7 net connectivity to get access to this online payment mode, and more importantly digital literacy to identify the possible risk of hacking.

As most of the countries are not able to provide these basic needs to their citizen it is not possible to replace physical currency with cashless.

But when the question come is world-ready? then answer is the world has already accustomed to it. People may not be having smartphones, net connectivity or knowledge of possible hacking but still many of them know about the cashless money.

They may not be using cashless currency but if proper tools and education provided we can move to the full cashless transaction which at present an ongoing process.

No, because if we go digital our currency has 85%chance to got stolen because on the other hand there is cybercrime.