The future is coming faster than we think. Banking experts expect that cash will not exist in Sweden, Tokyo, and New Delhi and all that within just a few years! As expected, such tremendous change will definitely happen before 2026.
So, how will things work from now and on and what will be the major changes people can expect to experience? First of all, all transactions will use some form of digital transfer. That can be plastic, RFID signals, direct transfers done via smartphone, and similar other things.
At this time, several barriers are slowing down any move to cashless here in North America. In the U.S, for example, a body of law establishes cash currency as “legal tender,” meaning that anyone selling anything has to accept cash as a form of payment. To bolster that law, several U.S. cities have passed local ordinances prohibiting any retail establishments from going cashless.
Should we all be scared about this situation? No need to fear yet! Most of the residents do not have any digital resource bank account, credit card, or checks which means that widespread cashless will not dominate any time soon. The move to a ‘new’ cashless society is propelled…
But people are still worried… In many not so developed countries where people work on some sort of ‘the black market’, these things will bring a huge change. Will you be able to earn some side money without your country knowing about it? Probably no.
Besides that, people are also worried about control. Many believe that a cashless society will be able to control your every move, your every earning, and your every spending. Sounds like a little bit too much to handle? Well, it does to countless people worldwide…
Actually, what I think will happen is a huge difference between various parts of our world. Some countries will go cashless, while others will have to spend a few more decades to achieve that. Will the chaos arise then? Will we have more misunderstandings and even more differences that will ‘tear nations apart’? Probably.
And what about the upcoming generations and ‘the old’ ones? Will they face some new sort of generation confusion with such dramatic changes? Probably. But the world doesn’t ask if you are ready, our society is changing. And it is doing it rapidly!
The new world is different, and its main characteristics are definitely changes. And the speed? Yes, all of the upcoming changes are just rapidly growing and changing faster and faster with each day.
From your personal opinion, what would be the good and the bad sides of a cashless society?
How will your life change?