Tuesday, May 11, 2010

Should The World Become a Cashless Society?


I do not think the world should become a cashless society,some people are certain that it would bring lots of positive change like reducing robberies,muggings and solve tax related problems but making the world cashless would mean introducing an alternative which is most likely a smart card and a smart card would not solve robberies and muggings because cash is not the only thing that could get stolen.Half of the worlds population work one way or the other for a living and not everyone can afford a bank account to use a smart card.Some poor countries in the world are filled with petty traders,fishermen and small business owners who barely make enough money to feed and a cashless world would make things worse.Using a smart card or biometric technology instead of cash for all my transactions would be comfortable because i do not have to carry cash around all the time and it will reduce the chances of my money getting stolen but being cashless means certain things like helping poor people begging on the streets for money would be impossible because they are too poor to afford a bank account.Also due to fraud,internet theft and scams smart cards are not 100% safe.

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