Is the World Ready for Cashless Currency?

Yes, according to me, the world is ready for the cashless economy as we are seeing in the present time most of the apps are providing the benefit of cashless economy and these apps are getting positive feedback and it also decreases the chances of robbery. So, I think in nearly 7 to 8 years the world will rebuke the paper money and totally accept the e-money.

Thank you.

Hi everyone!

Today our topic is that the world ready is for a cashless economy.

I totally agree with this topic. Because in today's generation almost every people have mobile phones that's why they are able to use a cashless economy. And there are many resources are also developed day-by-day like paytm, phonepay and google pay etc. With the help of this we can be part of using a cashless economy and saves our time too. It is also a little bit risky to use these apps because there is also increase cyber crime but it is less risky than an offline payment. And there is not much awareness about this cashless economy but overall it is very essential for us and it helps us more and we all want to aware of those people who are not aware of this thing by which they are also capable to take profit of this thing.

Finally, I want to say that a cashless economy is very beneficial for our society and we all want to use it and saves our time and increase in the development of our country in the field of science.

Thank you.

Hello everyone.

Cashless currency is an important step towards reducing corruption and also making the transaction easier. But it comes with lots of requisite.

1. The country needs to have a good quality of the smartphone.
2. The country needs to have good internet speed.
3. The country should have a good interface for transaction online which is both secure and that doesn't fail.
These steps will ensure low-cost cashless economy, unlike the pos machine which was costlier.
UPI in India and the Alipay and the Tenpay in China has shown that is possible to make the cashless currency a possibility.

Therefore even countries in every part of the world can have a cashless economy if provided with these services.

Hello all,

Thanks for giving me this opportunity.

Yes. The world is ready for cashless or for digital payments. Many nations like India, China, US, etc are forwarding steps for it and are encouraging people to make online transactions.

In India, after demonetization in Nov 2016 National Payments Corporation of India had unveiled with UPI (User Payment Interface) for going cashless. After this scenario, online transactions are boosted with the entering of players like Paytm, Google Pay and PhonePay, etc. There came a situation, wherefrom Vegetable vendor to Shopping malls started accepting UPI payments. To soar the condition, the Government introduced customers to pay expenses such as Electricity Bill and Booking travel tickets through online following payment apps attracted by offering discounts and cashback.

Another good example to consider is Sweden which reached 95% of the payments as cashless and to be the first country in the world to be completely cashless by 2023.

However, there are certain challenges to be noted in online transactions such as network and security issues. Governments are still enhancing to deliver the best and looking for a bright future.

Hi,

In my opinion, several parts of the world are ready and several are not, depending on the development of the country and its people. Some countries are well developed and can go with cashless currency, in fact, they are doing it for 75% of transactions as we speak, but there are developing and undeveloped countries also and they will face problems in going cashless and are not ready for cashless currency.

As for India, several people are saying cashless currency will fail because there are uneducated and poor people in India, but as we know people are dynamic and they can adapt to change, and that is what happened in India autorickshaw, panipuri sellers are accepting payments through paytm and other payments app. Though I will say India is not yet ready to go fully cashless but in the future. DEFINITELY.

Thank You.

Not only India even the world is not perfectly ready for cashless currency. We still improve a lot in every and every aspect to make the world cashless currency.

As per me, India is not ready to do so, because as India is still a developing country, instead of making the people aware of the technology, it invests more on the unnecessary aspects, so if we can make the hard work of poor or uneducated people as smart work, then everyone can go with this cashless currency.

Hello.

Guys, I don't think so everyone is ready for the cashless currency because of in our era different kind of people and everyone has own way of thinking well in our country, not all the people are educated firstly we should educate him and if we ever meet uneducated person we should encourage them we are the future of INDIA.

Hello friends,

My name is Kavita.

Thank you for giving me an opportunity to say something about the world is ready for cashless currency,

As per me, the world is not ready for cashless currency because there are two types of people who are living in this world from that some are educated & some are uneducated so there is the creation of lots of problems. As we know that most of the people of our country belong to rural areas and many of them do not have a bank account & very less amount of people properly know how to use online transactions. So I conclude that till the world is not ready for cashless currency.

Thank you.

According to me, this decision needs time and resources, which we both lack. There are more than 60% of rural areas completely unaware about the cashless system and those who even know about it are scared to use it. The lack of knowledge about the system eventually leads to all sorts of problems and Hacking is the real concern.

So To make India ready for Cashless System I think the government should take initiative and carry out activities in rural as well as in the places where internet is out of reach, make peopleware of the system, teach them how it works and its benefits.

Only then we can take a step towards building a developed India instead of the developing one!

Thanks.