Is it really worth to become a cashless economy?

It is evident that cashless economy refers to those economy where the transactions are made without cash and in digital format. On November 8th, 2016 our prime minister Narendra Modi had announced the demonetization of high value currency notes of ₹500 and ₹1000, and he stated towards the economy would be gone to cashless society. According to the current scenario, comparing to the other countries if our country moves to become cashless or digital economy that is really worthable owing to the digital transactions make the transparency in transaction and helps in reduction in black money formation as well as it aid in eliminating pic-pocketing robbery that have occurred at the time of physical transactions with cash made by the people. Not only it will eliminate the fake currency notes but also it will help in increasing digital literacy. It supports the tourists who have struggled at the time of payment mode which is present in cash form or physical form. Moreover, it will increase the employment opportunities in software industry and ease the environment for the citizens as it offers the discount and cash back by many apps, created by software industry, when the transactions will make through digitally or in digital form. Though, the Indiana are illiterate and digital illiteracy too, moving to become a cashless economy can be less worthable. It will be automatically cut the blue collar jobs. In addition to there will be an increment in cyber crimes and other modes of theft such as phishing. As we know that in India, illiteracy rate is high will lead lack of awareness. With this, we will failed to achieve a digital economy. In conclusion, despite the fact, moving towards digital economy will assist to come into existence at globally.