Since people are becoming cashless these days,it is believed paper currency and coins will be replaсed by Bank card ? Do you agree or disagree with this statement.

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It is not a secret that nowadays it is getting less popular to pay for things with paper
money
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.
Besides
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, some individuals hold the view that
bank
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notes will disappear in the foreseeable future. From my perspective, it is highly likely that paper and copper currency will not be relevant anymore approximately in 50 years' time.
Moreover
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, it will be completely replaced by plastic
cards
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or
technology
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.
First
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of all, the usage of paper
money
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has decreased over the past decade. According to a study, paying for services and commodities by
cash
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has shrunk up to 35% since 2011.
Moreover
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, a recent survey demonstrates that
this
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trend will continue because notes and coins are not that convenient to use as
bank
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cards
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. Certainly, it is the case due to the development of
bank
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systems and
technology
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.
Therefore
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, it may well be the truth that people will have given up using
cash
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money
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in a few decades or so.
Secondly
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,
technology
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is advancing extremely fast, and so are banks.
For example
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, the Brasil Central
bank
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has created and released a platform called Pix that allows paying for purchases with one click using a smartphone and QR code. It is still a rare method of payment today but research has shown that the 'Pix' has a huge potential in the long run.
Subsequently
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, it can be seen that consumers prefer paying with
cards
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and modern applications whereas
cash
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money
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loses its relevance every day. In conclusion, without a doubt, notes are getting less common in the modern world even though some individuals still continue to pay for things in
cash
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. Predictably, plastic
cards
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and
technology
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will become a new currency in the long term.

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