Today, many people use the internet and smartphones to transfer money to friends, family, and businesses. Is this a positive or negative development?

In a rapidly developing epoch of technology, it has become a common social phenomenon for individuals to

transfer

money

by using digital currency.

This

essay examines the merits and demerits of it and determines whether it is a positive or negative

development

.  One significant advantage of the

use

of digital

money

is that it simplifies the process of transferring since citizens only

use

smartphones to finish it. Clearly, individuals cannot go to local banks in person or find an Automated Teller Machine (ATM) to do it.

Moreover

, it certainly is time-saving.

For instance

, if someone needs an emergency loan, a finance corporation can

transfer

money

as soon as possible.

Hence

, it is without a doubt that the

use

of digital cash is welcome in modern society, recently.

Although

transferring by using electric gadgets does save users time, one compelling disadvantage cannot be ignored, which is the risk of losing coins.

This

is because using the internet to

transfer

money

is difficult to be regulated by security parts of governments.

For example

, an increasing number of online banking fraud cases are continually being reported by social media;

therefore

, fraud case has become the major reason why most residencies lack trust in these new

transfer

methods. 

On the contrary

, scientific technology

development

cannot stop

due to

its potential risks, so more and more professors have started to figure out some solutions to fight criminals, like educating the public on how to identify whether one is true or not. In short, the using of the Internet to

transfer

currency will become a positive

development

in the future.  In summary, transferring

money

through the Internet presents both cons and pros, encompassing time-saving and losing of coins.

However

, it is may a solution to modify its disadvantages, ergo, the

use

of digital cash is a positive

development

.