Is the World Ready for 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 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.

Good morning to everyone present.

Today, I would like to share my perspective on cashless currency and its implications on our daily lives.

The subject is important, as it concerns the entire human existence.

While we strive to complete our daily tasks efficiently and within the stipulated time, we must also consider the security aspects of cashless transactions. Undoubtedly, cashless currency offers numerous benefits, such as time and energy savings. However, it is crucial to address the potential risks associated with this system. If our devices are compromised by unauthorized access to third-party websites or applications, our personal data and financial transactions may be at risk. This could lead to dissatisfaction and a lack of confidence in the cashless system.

It is essential to acknowledge that many foreign nations have achieved remarkable success in implementing cashless currency. Their accomplishments can be attributed to the establishment of robust policies that prioritize the privacy and security of each individual. Therefore, we must focus on education and knowledge regarding the safe and efficient use of online applications and precautionary measures for cashless transactions and net banking.

In conclusion, the adoption of cashless currency requires a balanced approach, taking into account the benefits and potential risks.

By promoting awareness and implementing effective policies, we can ensure a secure and efficient cashless system for the betterment of society.

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.

Hi everyone,

I am Vurvik I'm here to discuss about the topic "Is the World Ready for Cashless Currency".

In my point of view, it has some advantages as well as disadvantages. Also because.

In some cases, cyber-crime is more while using online payments, and takes lots of time in case of transactions, and we are just aware of cyber crimes.

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.

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.

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.

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.

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.