Some people today feel that physical money will no longer be used in the future. Others feel it will still have some uses. Discuss both sides and give your own opinion.

In
this
modern world , some individuals believe that banknotes will disappear in the future ,
however
, others say that they will remain the same. In my own opinion ,
although
digital currencies are popular , we cannot eliminate
cash
because of some reasons.
This
essay will discuss both views. On the one hand , some people feel that cashless payment has several benefits. Absolutely, people do not need to carry a large amount of
cash
while they are engaging their businesses.
Moreover
, they only require to bring their mobile phones or credit cards during travelling which is the most visible advantage. An increasing number of cashless businesses all over the world,
for example
, enable secure payment to tourists who do not need to worry about fake bank notes during exchanged their
money
in some strange areas.
Consequently
, governments can
also
control some cases like
money
laundering and individual income tax.
On the other hand
, other opponents say that physical
money
still requires for our society because of some vital reasons. It is undeniable that most digital currencies are based on physical
money
.
In addition
, a large number of rural areas are preferred to use bank notes
instead
of using digital
money
because they do not have proper knowledge and experience. Another reason is cashless payment systems can crash at any time because they are based on technologies and we cannot address
this
kind of issue on physical banknotes. To conclude , even though the development of digital currencies and their usage is increased , we cannot eliminate the essential part of bank notes which I mentioned above. We may use less
cash
in the future ,
however
, we may
also
still need to use the
cash
as well.
Submitted by waiphyothu007 on

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Topic Vocabulary:
  • financial security
  • safety net
  • unforeseen circumstances
  • emergencies
  • future investments
  • retirement planning
  • financial discipline
  • habit of saving
  • amassing wealth
  • substantial fund
  • opportunity cost
  • additional income
  • inflation
  • purchasing power
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