A"cashless society" is one where people use Debit/Credit cards and other forms of payment instead of cash. Do the advantages of a cashless society outweigh the disadvantages.

Nowadays, debit or credit cards may completely substitute the

cash

in transactions; It is called a "cashless society". Some people argue against it;

however

, I believe the new approach has more positive aspects than drawbacks. In

this

essay, I will compare the cons and pros of

this

new trend. The very notion of a transaction without exchange of real

money

or equivalent in value may not acceptable for some reasons. There is always a fear for fraudulent activities. Indeed, Cyber fraud is becoming a new norm for enforcement bodies

such

as police and judicial department.

However

, noteworthy to mention is the fact that

this

kind schemes

such

as

ponzi

Suggestion

Ponzi

schemes always existed and the only difference is the form and the medium it is committed within.

Furthermore

, it may be argued that governments and

in particular

governments of developing states have the tendency to intentionally mishandle the real value of the national currency by introducing more currency rather than the amount they should based on the central bank’s reservoir.

Although

,

this

is a valid concern, the same is true in the current physical

money

printing.

Therefore

, I see no rigid and exclusive disadvantage that cashless society may pose rather an economy where

money

exchange is normal.

On the other hand

, there are numerous grounds on the overwhelming advantages of

this

new approach.

First

of all, printing

money

is costly for the governments.

This

cost can be deducted from the public budget and may be added to other sectors

such

as welfare.

Second

, it consumes huge amounts of materials including paper. Within the concept contemporary global warming, there is no question why we should use our precious trees. Should we avoid using paper, amongst other measures, we may end up having a slower pace in temperature rising. Forth, it should be noted that terrorism is one of the major concerns all over the world. Many international organizations are fighting to prevent the transfer of

money

to these groups. There is no doubt that tracing electronic transfers and prohibiting

such

funding are much easier with new electronic infrastructures.

Finally

, the very devastating pandemic of new corona virus proofed how counterproductive is the use of

cash

. As an example, the Netherlands and many other European countries, during the peaks, totally banned the transfer of

cash

in shops to hinder the contraction of the

covid

a geological formation consisting of an underground enclosure with access from the surface of the ground or from the sea

caved

-19.

Hence

, it is reasonable to assert that advantage of an economy which uses

electronic method

Suggestion

electronic methods

an electronic method

to transfer

money

or other valued currencies, outweigh the disadvantages. I strongly believe that

transition

Suggestion

the transition

from

cash

to electronic currencies is an inevitable fact in the near future. In fact, many societies already started in

this

way, and new current pandemic by highlighting the very negative aspects of physical currencies, accelerated the matter.