Being a cashless society is what most countries are heading to. Some of these countries support this transition as they believe it will make positive changes to the economy and people’s lives. However, the problem of i

Being a cashless society is what most countries are heading to. Some of these countries support

this

transition as they believe it will make positive changes

to

Suggestion

in

the economy and people’s lives.

However

, the problem of its security has concerned some people and they shoe no encouragement to undertake

this

form of transaction. Personally, I would stand for the use of cashless transactions, the reasons will be outlined in

this

essay. It is indisputable that governments and citizens can gain many benefits form undertaking transactions electronically, one social advantage is the difficulty of money

laudering

washing clothes and bed linens

laundering

, tax evasion or funding illegal activities. Commonly, the illegal trade often takes place with cash in order to avoid any evidences or records.

Nevertheless

, in a non-cash world,

this

no longer happens as a paper trail will be left, so the authorities can track the transaction easily.

This

is

also

true for the case of tax evasion and money

laudering

washing clothes and bed linens

laundering

. It will be impossible to evade paying taxes if

source

Suggestion

the source

and application of funds can be checked and under control through financial records.

Hence

, digital payments not only improve the

transpareny

permitting the free passage of electromagnetic radiation

transparency

of the economy, but they

also

help reduce the crime rate. There is no denying that on using cashless transactions, there is a lack of privacy and security. As a matter of fact, when

transactional

the act of transacting within or between groups (as carrying on commercial activities)

transaction

data is stored in servers, it increases the risks of unauthorized breaches by hackers.

In addition

, records stolen might be intentionally leaked and lead to many other problems.

However

, I believe that the benefits digital payments bring with

oughtweigh

be heavier than

outweigh

outweighs

outweighed

the drawbacks.

Furthermore

, there’s no going back, we need to face the risks and deal with the difficulties to unlock the advantages. In conclusion, I am totally in support of running transactions

technogically

by means of technology

technologically

rather than with cash. The world is experiencing a rapid and increasing use of digital methods of operating everything, and so should the trade.