While I do agree that the efficiency of cashless transactions is superior, there are several industries, such as the service industry, where cash-based transactions are prevalent. The elimination of …Read MoreWhile I do agree that the efficiency of cashless transactions is superior, there are several industries, such as the service industry, where cash-based transactions are prevalent. The elimination of cash transactions would severely hamper those industries, the front-end employees would also take the brunt of those negative setbacks. Additionally, giving banks a monopoly on systems of transaction, for which they already collect usage fees, could lead to separate issues.Read Less
No, I feel cash is necessary in the economy. Not only are there many occupations that thrive off of it, the reliability on technology can be dangerous.
To some extent, it would make it more efficient. However, solely relying on digital transactions is a scary thought, and some people like having cash on hand. People should be allowed to keep and use …Read MoreTo some extent, it would make it more efficient. However, solely relying on digital transactions is a scary thought, and some people like having cash on hand. People should be allowed to keep and use cash.Read Less
It depends on what is meant by cashless. Bank transfers which could take multiple days to transfer or crypto exchanges which need to be authenticated would actually slow down progress compared to. …Read MoreIt depends on what is meant by cashless. Bank transfers which could take multiple days to transfer or crypto exchanges which need to be authenticated would actually slow down progress compared to cash. There are also worries of government having way too much power if they can entirely control, access, or freeze anyone’s money.Read Less
People should be allowed to pay for things however they want. I understand other methods may be more efficient but it is not reasonable as many people still use cash.
While in theory it could be more efficient, I don’t think so as it is risky to rely on a completely cashless system, and I think it has the potential to become dangerous.
I think cashless transactions is more efficient and a faster method of transaction. However, I do not think that it would lead to a more efficient economy as this increases the rates of crimes and …Read MoreI think cashless transactions is more efficient and a faster method of transaction. However, I do not think that it would lead to a more efficient economy as this increases the rates of crimes and lack of privacy.Read Less
In its current state, a cashless society would be less efficient given that certain people don’t have continuous access to technology. This would decrease the total number of customers.
While I do agree that the efficiency of cashless transactions is superior, there are several industries, such as the service industry, where cash-based transactions are prevalent. The elimination of …Read MoreWhile I do agree that the efficiency of cashless transactions is superior, there are several industries, such as the service industry, where cash-based transactions are prevalent. The elimination of cash transactions would severely hamper those industries, the front-end employees would also take the brunt of those negative setbacks. Additionally, giving banks a monopoly on systems of transaction, for which they already collect usage fees, could lead to separate issues. Read Less
No, I feel cash is necessary in the economy. Not only are there many occupations that thrive off of it, the reliability on technology can be dangerous.
I disagree because digital currency allows for stricter government regulation and cash allows for the privatization of one’s personal money.
To some extent, it would make it more efficient. However, solely relying on digital transactions is a scary thought, and some people like having cash on hand. People should be allowed to keep and use …Read MoreTo some extent, it would make it more efficient. However, solely relying on digital transactions is a scary thought, and some people like having cash on hand. People should be allowed to keep and use cash. Read Less
It depends on what is meant by cashless. Bank transfers which could take multiple days to transfer or crypto exchanges which need to be authenticated would actually slow down progress compared to. …Read MoreIt depends on what is meant by cashless. Bank transfers which could take multiple days to transfer or crypto exchanges which need to be authenticated would actually slow down progress compared to cash. There are also worries of government having way too much power if they can entirely control, access, or freeze anyone’s money. Read Less
People should be allowed to pay for things however they want. I understand other methods may be more efficient but it is not reasonable as many people still use cash.
While in theory it could be more efficient, I don’t think so as it is risky to rely on a completely cashless system, and I think it has the potential to become dangerous.
I think cashless transactions is more efficient and a faster method of transaction. However, I do not think that it would lead to a more efficient economy as this increases the rates of crimes and …Read MoreI think cashless transactions is more efficient and a faster method of transaction. However, I do not think that it would lead to a more efficient economy as this increases the rates of crimes and lack of privacy. Read Less
No- the last thing our economy needs is more liquidity.
I think cash is important, especially in the age of cyber warfare. I don’t think many people would complain about cash being inefficient anyway.
100% reliability on technology, as it relates to financial transactions, is probably unwise. That’s why I voted “no” in the poll.
In its current state, a cashless society would be less efficient given that certain people don’t have continuous access to technology. This would decrease the total number of customers.