Is the World Ready for Cashless Currency?

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.

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.

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.

Hello everyone.

According to my opinion, the world is ready for cashless economy. It is one of the great idea.

Now the online transactions will be done through some apps like paytm, google pay and other apps which made the life easier. There will be no carrying of money in hand or in the bag to transfer the money by standing in que in banks because of cashless economy. Cashless economy is good initiative as it consumes less time to transfer our money to anyone.

This is very useful for today's generation as everyone has cell phone.

According to me, the world is not completely ready for cashless money. It is one of the best tech revolutions in late 20's no doubt, but the world is not completely ready for it because many people can't even afford a smartphone and many of those who have a smartphone have a lack of knowledge on how to use it. As the most important requirement for doing a cashless transaction is a smartphone most of the people can't afford it. It is a known fact that cashless transactions are fast, secured (no chance of robbery), and as the technologies are evolving almost every company provides a medium for the cashless transaction but the most important need is the knowledge of how to use it.

Thank you.

Hello everyone,

This is an interesting topic in today's world scenario.

No, I think this is not the correct time to shift to cashless currency.

The basic need for a cashless currency is a smartphone which is not affordable by some people. The next basic need is a strong internet connection for transactions. Not everyone with smartphone can pay for the internet.

But in near future, it is possible for a cashless currency.

Good morning everyone. My name is Rohit Lohar and today we are going to discuss, is the world ready for cashless currency.

In my point of view, today world is not ready for cashless currency.

Because many countries are remains to develop and many countries are still developing. If we start cashless curency that day there will be many problems in all over the world. Some countries like USA, China, UK, Britain are the developed countries, they can use useless currency. If we wants to do cashless currency then we have to develop our country in every respects. We have to increase our G.D.P. For cashless currency, a country should independent in all respects. It may be in future but now a days it is not possible.

THANK YOU.

Hello everyone.

My Name is Sagar Rathee.

In my opinion, apart from the digitalisation of the world, we are not at that stage of inclusion of each and every person in this process.

Here, it requires a plethora of stringent steps at national and international level both:

1) To aware and educate the minorities which are still deprived of technology.

2) to enhance the budget expenditure in digitalisation so that everyone can have access to technology.

3) to install a rich Web of the network as a proper Internet is the main pre-requisite.

4) and also to set up programs or committees for awareness regarding Cyber Security.

Hence the concept of cashless economy is a necessary evil. After taking proper steps in upcoming 5 to 10 years we can head toward a complete cashless economy.

Thanks a lot.

Hello everyone.

What have topic to discuss here that is "is the world ready for the cashless economy".

In today's century not 100% people are ready for a cashless economy. Not all people are familiar with digital technology.

There are some challenges in front of the world before moving towards a cashless economy. Still, there are some people who cannot understand the cashless transaction. Not every person have a smartphone to go with the digital transaction. There is poor network connectivity in many regions. Now many people stopped the cashless transaction due to charges applied by gov on the digital payment transaction.

First, we have to sort out all these issues then only we can move for a cashless economy.

Steps to be taken.

1. Provide knowledge to the people about the cashless transaction.
2. Affordable smartphone to economically enabled people.
3. Fastest and strong network connectivity in all-region.
4. There should be a free digital transaction.
5. Gov have to improve cybersecurity and have to set awareness to progress me on cybercrime security.

In my opinion, now the world is not ready for a cashless economy. First of all, countries have to develop digitally. People first have to grow with digital services. People need time to learn and adapt changes. Then only we can be ready cashless economy.

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.