What are the advantages and disadvantages of having a cashless society?

Hitherto, currency notes and coins have been mere used for transactions worldwide.

However

, after getting a breakthrough in the same field, cashless medium is in vogue

.

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.

The essay discusses

pros

Suggestion

the pros

and cons of having a cashless community. As far as benefits are concerned, the

first

which I consider is various forms of electronic cash.

That is

to say, modern generation has myriad type of methods

such

as credit cards, debit cards, electronic banking, mobile banking

;

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;

they are utilised with ease where network is available.

Besides

, they consume less time.

For instance

, educated civilians of India use plastic

money

to do shopping in most of the cases.

In addition

, as

this

mode of transaction does not require to carry cash anywhere, a robbery or a theft is out of the world

.

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.

So, it gives more safety masses

especially

Suggestion

Especially

children and senior citizens.

Last

but not least, it is a curse for those who carry black

money

and do corruptions.

Nonetheless

, drawbacks can not be overlooked. By far the most common criticism is to big losses within

second

in case of cyber crime or plastic

money

loss. To elaborate, if either information associated with bank accounts

such

as account number, IFSC code or a plastic

money

is found by some hackers

,

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,

large sums of

money

is

Suggestion

are

at stake.

For example

, my friend, Janhvi, lost one lakh rupees while

purchasing

Suggestion

purchase

flower pots through Amazon

Moreover

, hefty wealth to be spent setting up the needed infrastructure that

put

Suggestion

puts

additional burden on budgets of governments. Not to mention, it

si

have the quality of being; (copula, used with an adjective or a predicate noun)

is

not feasible for small

purchasing

Accept comma addition

purchasing, such

such

as chocolates from small stall keepers. To conclude, despite of a few shortcomings

such

as cyber crime, cashless transactions need to be operated by every sort of person in order to get safe and face paced life.

Therefore

,

instead

of criticising, dwellers have to utilise

this

advanced technological method.