Merits and Demerits of Cashless Economy

Hi everyone.

I am Sanjeet I belong to Alwar(Rajasthan)


Today our topic the cashless economy
Let's discuss it.
Every coin have two sides as the cashless economy has two sides
First, we discuss it advantages

Advantages-
Cashless economy is very helpful for us we save them time and energy by this. This economy is provided us with many facilities.
We can online payment easily with sitting one place there is no risks.
We can pay the electricity bill, water bill and other bills.
We can pay online payment it's saved our time and time is very important for us.

Disadvantages-
The cashless economy has some disadvantages with have advantages.
Cashless economy is not successful in the rural area or network problems areas.
This technology is not used by illiterate persons.
Today the thieves hack our bank account and steal the money so this technique is not profitable Completely.
Thanks.

Good morning friends, My name is Vipin Saroj.

I live at Pratapgarh in Uttar Pradesh. Let me start the discussion on the given topic MERIT AND DEMERIT OF CASHLESS ECONOMY. The cashless economy has more benefit. Like to protect corruption. With cashless, we can easily pay all the payment like bill, shopping and other things. But the cashless economy also has the demerit. The cyberattack is very dangerous for cashless. And it is not comfortable for everyone because some illiterate person does not understand the cashless economy.

Hello, all of you, today we are here to discuss merits and demerits of the cashless economy so let's break the ice cashless economy is best there is no doubt about it but it has many cons. First thing should be discussed is hacking this word create an image of threat in our mind everybody wants to know how much his transaction is secure so that is I think is big cons about cashless economy know I want to know yours view if you have any.

Hello everyone,

I want to give my opinion on the cashless economic is merits and demerits.

First of all, I am talking about that it economic has very important and time-consuming techniques for doing work like as (bill payment, payment-related all other shops, money transfer). All important work-related this economic done from home not go anywhere and without waste your money and time.

Most of us use Google pay, Phone pay, Amazon pay and any other applications for do better work. That's all about merits.

And some demerits are cybercrime, bank account hacked.

Thank you everyone.

According to my opinion, today we discuss the merit and demerit cashless economy as we know everything has pros and cons first I discuss the merit of the cashless economy today we can complete all our work in a very short period like bank work as money transaction and the transfer we can save a lot of time to use this method. Its demerit 1when we work in important things and we face server problem and sometimes hijackers hacked my bank account and with a drawl, it's money we use.

Good morning everyone.

Today we have a great day to discuss on cashless economy. In my opinion, cashless is the best way to save time, energy and tree.

But as we know that everything has its own pros and cons. In that way, cashless is good in some case but it is also bad in some case.

First of all, I will talk about its pros :

It is very important for reducing the crime rate, corruption and saving time. Because we spend many times in queue for bank transactions.

If I talk about its cons:

Many trees cut down for producing paper for note. And it is very hazarded for us. In the rural area, there is a lot of network problem. Rustic people are not well acquainted with the digital system and its uses.

Hello,

Everyone today's topic is about the cashless economy it means carrying out business and.

Economic activities without using of money physical or in ". It is less flow cash on people ".

Every topic have its own pros and cons cashless economy also has some advantages and disadvantages they are:

Benefits:

*By using advanced technology the money can be transferred for anybody and anywhere.
*The best apps like phone pay, Google pay, Bharath pay etc.
*It saves precious time and fewer efforts to do work.
*It is best for old people because they need not stand online for a long time.
*If there is no money their will no robbery.
*The bills can be easily paid and we will get cashback also.

Defaults:

*Using cashless economy is dangerous because their will be harmful for uneducated people.
*There will be hackers they can hack our money.
*There is no evidence for bill transaction it will become difficult for payment of tax.
*Old people and village people will become foolish because of fraud people.

At last, I can say that we need a cashless economy to overcome from its cons is to educate about new technology to everyone is only the solution.

Thank you.

Following are the Merits and Demerits associated with a Cashless Economy:

Merits:
1) It saves our time for paying off the various bills through one click.
2) It reduces the risk of robbing because you won't carry physical cash.

Demerits:
1) Imagine if you are travelling with your friends in hilly areas or near the village area and all of them having money in their Digital wallet only and there is a possibility of the network issue in that area because of this you won't be able to transfer money.

It's useful for time management. We can pay any bills or payments within a second. And also we reduce the robbering and it's also the solution of money losing problem.

Cashless economy we already know this renowned concept in earlier year when pm of India announced demonestisation in that time we step ahead with cashless transaction and with time phase we are habitual to it now wherever we go we prefer highly on cashless transaction whether to pay for shopping, electricity bill, tution fee etc which are easy to use and time saving. This new concept is best known for tracking illegal money which was not possible earlier days with lots of benefits of cashless economy there are lots of demerits like with advent of cashless transaction there is also increase in cyber crimes at peak level.