COins and paper money will soon be replaced by credit and back cards. DO you agree or disagree that eventually we will have a cashless society which will be safer and more convenient for everyone?
During the
last
decade, virtual money
has reached its pinnacle after the mass adoption of debit cards
by a staggering amount of people. I contend the notion that digital money
will dominate future societies
which will provide effective transactions over a safe and fast route.
First of all, the pace of transition from cash to digital accounts is growing at a mind-boggling rate which entails societies
exploring prudent solutions to keep up with technology by improving and upgrading existing banking infrastructure. Handling of cash money
is cumbersome, yet inefficient to manage and requires physical interaction in comparison with other cashless methods like ATM cards
. For instance
, international money
transformation used to be a challenging task until the invention of digital money
. This
invention has enabled people to transfer their money
without boundaries. In addition
to that utilization of credit
cards
has also
eliminated the risk of foreign exchange because credit
cards
offer automated exchange options with a fractional commission fee. It is worth noting that digital money
tools have considerably alleviated people's lives for the better and I think there is still room for improvement for future generations.
The second reason why cashless societies
are inevitable is due to
their intricate safety measures against potential fraud. As a vivid case of those protective measures, credit
cards
provide a perfect system for governing bodies to control the inflow and outflow of money
, thus
, reducing the number of money
laundering and other similar crimes. For instance
, previously it was relatively easier for cyber thefts to empty your credit
card, however
now with the integration of a 3d protection system which provides multiple verifications amid a suspicious event.
To conclude
, although
the full transition from the conventional way to digital money
has still some catch-up to do, I firmly hold the view that digital money
is the most efficient and the safety way for societies
to operate.Submitted by orkhanshamil on
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I really want to study but I’m too tired.
I wore a warm coat because the weather was cold.
If action is not taken soon on climate change, global warming will get worse.
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