Nowadays there is a growing shift towards the use of cashless transactions. While some people argue in support of a cashless society, claiming that it is beneficial to citizens, others raise concerns about security. Which side of this argument do you, personally, agree with, and why?

As the economy grows faster, cash could not meet the payment needs of the entire negotiation and consumption. Therefore, the application of cashless payment more convenient and safer, is what any country is heading to. I absolutely approve that a cashless society is advantageous to the progress of a nation. To begin with, the first advantage is that crime rate will decline. With cash, it is simple for pickpockets to steal money, whether the amount is large or small. Likewise, illegal transactions, like the drug trade, typically take place with cash so that the seller can be certain about getting paid. Besides, it costs money to print bills and coins. Highlighting, the main benefit is no management of cash. Businesses need to store the money, get more when they run out, and deposit cash when they have too much on hand. In addition, the currency exchange is uncomplicated. Take for example, whenever one visit a foreign country, they may need to purchase local currency. But it becomes easier if both nations can deal with digital payment. Rather than figure out another currency, your mobile device handles everything for you. Nevertheless, there is no denying that using a credit card has some disadvantages. Electronic payments mean less privacy, you might have nothing to hide, but your payment information could turn up in ways that are impossible to predict. Obviously, hackers are the bank robbers of the electronic world. In a cashless society, the consequences are higher if somebody drains your account because you don’t have any alternative ways to spend. Moreover, the poor will have an even harder time. They don’t have expensive devices for making payments, and those who operate in the informal economy would have no way to get paid or receive aid. By contrast, there are still solutions for these problems, hence the benefits outweigh drawbacks. Taking everything into consideration, from my point of view, a cashless society is much possible as long as the progress is gradual and the infrastructure is sufficient. The government should be responsible for handling data and security for the sake of the citizens.