Merits and Demerits of Cashless Economy

The Cashless economy is great. It also saves resources like pen paper and time. But in every sector cashless is not possible so there must be a facility of non-cashless economy. Mostly in groud level.

The cashless economy is geat for educated people but not suited for uneducated people.

Hi friends.

In My point of view, the cashless is very best because my country, not development is corruption so this corruption is less my country development used to cashless methods so very best to the cashless method.

According to me, the cashless economy is good but it is not successful because it can be used only educated people but if I would like to say about many uneducated people and they so work daily salary based and they don't know about how to use anything like debit card and any other applications it can be very difficult so it can be demerits for our contact people it should not be done.

Hi friends.

As my friend, told the cashless economy is a good initiative by the government. My this it is easy to know the how much transaction is going on and by this we can track the black money holders and their will be an esay calculations.

The Cashless economy is very precious as well as accurate method while transaction. The main factor is that to save the trees and our valuable time.

Two hours work gets done in a few seconds.

The only one demerits is the cashless economy is useful for only educated person.

Good morning everyone.

Today is discussed on the topic CASHLESS ECONOMY:

The Cashless economy is promoted by our respected prime minister NARENDRA MODI.

1st of all, I would like to say thank.

India is one of the developed countries in the world so we should to corporate.

The cashless economy as like net banking google pay phone pe etc.

It is very useful for us because it is saved to time tree pen and paper. In a cashless economy, no any persons are black money store because if you store money or any other country transaction then your record is available so it very useful to us.

It has some demerits.
1: It is not more many securities.
2: It is not uneducated people.
3: In this process always should internet connection.
4: Password problem.
However, it is good technology.

Hello, friends.

I have read maximum people view.

I think the government is not tom jack or harry. Government means many people come together and takes a decision on the particular topic. It must have been discussed well about the cashless economy. Yes, it has merit or demerit. You know every coin has two parts head or tell.

Same here people have two aspects positive or negative.

I will only this that this decision was very good by the Indian government or we must respect our government's decision.

Merits.
1. People can save time.
2. There is no need to be a physical presence.
3. Work can be done easily.
4. Save time and resources.
5. It helps to keep away fraud mostly happen.

Demerit.
1. Need to be educated.
2. One should have a habit of operating it.
3. Not Strong connectivity of the internet.
4. Village people are not as smart as they should be in using mobile.

Hi all. Today's topic of discussion is the Merits and Demerits of cashless economy. According to my perception of view, Merits are far enough in number as compared to demerits.

Merit:

The Main advantage of the cashless economy is peoples can save their valuable time which gonna waste in the queue for transactions (in without cashless economy) Now With cashless transaction people can make it by a single click. So transactions can me made paperlessly and this paperless transaction leads to deforestation decrease which is good for our environment.

The main disadvantage of the cashless economy is people need to be educated to work with the internet which is very less in villages.

The internet connection in villages is very slow.

Hello friends.

As we know that economic development is more inclined toward technology. A cashless economy is also a part thereof and has so many positive aspects as well as negative aspect.

Positive aspects:

1. Reliable and time saving for the transaction of money from one user to another user accounts.
2. Transparency at the governance and individual level ex: many government schemes or fund benefit can be directly put into the beneficiary account.
3. Control on corruption to some extent.
4. Mitigation in the environmental issue (use of paper to print money or some time metal also).
5. Availability of money transfer system for 24 * 7 hrs.
6. Increment in the Security causes decreament in the risk.

Negative aspects:

1. Many people are not aware about cashless economy so they are unable to use it.
2. Literacy is a major factor because it is the primary need to operate it.
3. Chances of failure of transaction and will take more time in refunds create unwanted annoyance in people, But it happens sometime.
4. Less probability of hacking of data.
5. Unavailability of internet connection create a barrier in cashless economy.