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.

It is not a secret that nowadays it is getting less popular to pay for things with paper

money

.

Besides

, some individuals hold the view that

bank

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

, it will be completely replaced by plastic

cards

or

technology

.

First

of all, the usage of paper

money

has decreased over the past decade. According to a study, paying for services and commodities by

cash

has shrunk up to 35% since 2011.

Moreover

, a recent survey demonstrates that

this

trend will continue because notes and coins are not that convenient to use as

bank

cards

. Certainly, it is the case due to the development of

bank

systems and

technology

.

Therefore

, it may well be the truth that people will have given up using

cash

money

in a few decades or so.

Secondly

,

technology

is advancing extremely fast, and so are banks.

For example

, the Brasil Central

bank

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

, it can be seen that consumers prefer paying with

cards

and modern applications whereas

cash

money

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

. Predictably, plastic

cards

and

technology

will become a new currency in the long term.