Is the World Ready for Cashless Currency?

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.

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 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.

Hi,

According to me, we can not go completely cashless we need to have some money in our pocket for miscellaneous uses. Cashless means to reduce the use of cash. The government need to teach the methods of the cashless transaction through the various program to those people who do not have any idea about the appropriate use of the system. Otherwise, these people can be trapped easily. Cyber security must be enhanced for reliable transactions. According to me, the government need to work on to develop a much safer system before going completely cashless.

Hi, This is Chandan.

Thank you all to me giving this wonderful opportunity.

According to me, the world is absolutely ready for the cashless currency there are some following points:

Save time: people don't have a sufficient time to one place to another place to save time it is a good way to transferring a money and go cashless.

Security: The cashless transaction is totally secure there is a very less chance that you May lost the money otherwise it ja totally secure.

These are some points that make a cashless transaction good and very efficient.

Part of this people is getting some amazing price for using cashless transaction so it is also making them very interesting.

But also one disadvantage is that it is making an addiction to the people are getting addicted to their mobile phones that is not good.

Thanks.

Hello everyone.

This is Shubham and I would like to thank you for giving me this opportunity to speak.

My view is,

Since the word cashless comes in our mind after the demonetisation held by our government after a long gap of years and before that more than 50% of people do not know about it. 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 plus very less amount of people properly know how to use online transactions. So I think first of all it is the need of the hour to spread the proper education among others related to cashless transactions and teach them the benefits of the cashless economy system. Narendra Modi's government had taken a huge step to make India a cashless economy system but their plan was not proper and civilised. So my conclusion is it takes time for India to make a complete cashless economy system but it is not too far if this government will go in the right direction.

Thank you.

Most of the countries in the world already adopted the system of going cashless and they are running well. But the problem is going cashless means getting digitalized for which internet connectivity and literacy is required. Regional disparities can be seen in many countries. This means a certain percentage of the population of that country can avail the benefits of going cashless but the remaining percentage of people first have to learn how to use it. For this, all the regions of a country have to be properly connected with banks also. So, the world is completely not ready for cashless currency. Also, there are a number of situations where cash is required.

I want to add on to this as I agree with all of you. I think people are not yet ready for cashless economy as educated people are availing all the facilities but the poor n uneducated people are lacking behind. All big showrooms, shops are being cashless but what about those sellers who sell their products on street or those small shopkeepers who dnt know about the internet. First, there need to educate people n slowly slowly give them access to use.

Hello everyone Atul here.

I would like to thanks to share my thoughts in front of you.

I agree to become INDIA cashless because in that process time consuming, safe money transfer, any everything buy online.

Thanks.

According to me, only those people are ready who knows how to use the internet. Those who do not know how to use a smartphone or laptop can't do this. Without good speed, online transactions can't be done. And there are many countries where people are not digitally literate like India where population living in rural areas don't know how to use the internet. Before making this world cashless digital literacy and internet neutrality are important points which should be focused on.