Physical currency ever exchanging hands. Despite all the pros, the rise of a cashless society does have its cons ― nevertheless; the future is portrayed by some experts as being as shiny as the reflection off your MasterCard. In theory, a cashless society stretches back to the creation of the traveler's check, a financial tool. Traveler’s checks are a safe and important factor in our life for going on holiday. Traveler’s checks mean that money if lost can easily be replaced by attending a local bank and getting them replaced all traveler’s checks are slips of paper which count as your money most shops accept them and they are very affective. It’s not too much of a leap to see consumers swiping debit and credit cards by the hundreds every day at any number of local eateries, including Subway, mc Donald’s, the crispy cream chain and dozens more. Bank of America issued the first bank-related credit card, BankAmerica (now known as Visa) in 1958 and by the early Sixties; more companies were offering credit cards as timesaving devices rather than forms of credit.
Asking around I managed to find out that about 60 percent of people agree with the cashless system they feel it is very affective in there daily lives weather it be buying groceries or paying credit or debit card over the internet. With a cashless society schools have now become involved they believe that instead of kids bringing money into school everyday they can bring in a set amount and put that amount on your dinner card. The card will then be credited with the amount you have put on and will only need a swipe on the machine before you use it. Other business have also become involved for example the internet is one of the biggest known with every website nowadays allowing you to purchase good online. Shops now have systems also either to pay for any purchases which are being bought or say you need to top up your mobile phone it is now all simple if you have an etop up card. Busses and trains have also got involved along with adventure parks or any events tickets all these now make it easier to pay for things and also saves time in shops.
This may seem exciting but actually this computerized economy is very dangerous. The era of paper money and coinage is rapidly drawing to a close and the new age of a cashless society is dawning... If modern electronic credit and debit cards can be substituted for cash, then every financial transaction of your life can be catalogued and stored for future reference and those with the power to cut off your access to electronic money can strangle you in a heartbeat. The potential for totalitarian blackmail and control is incredible. This is the danger of debit cards: as long as you can withdraw paper money from cash tellers by using these cards, they will seem quite handy, since they eliminate the need to carry cash on you. But the Bankers clearly stated that paper money will be eliminated after a short period of time, and that only electronic money would be in use. In such a case, the debit-card system will become an instrument of absolute control over the human person. For example, if, for whatever reason, you are classified as an "undesirable person" or as an "enemy of the State" by the Government, they will only have to erase your number from the central computer, and you will no longer be able to buy or sell. Fast forward to the future - a future of cashless purchases via the Internet linked with a call center for personalized service, electronic wallets and, as some believe, barcoded tattoos for security verification. Future advances promise automated e-check payment via touchtone telephone for routine bill paying, digitized e-check imaging transmitted directly to the corresponding bank, electronic checking accounts and potential links to the ATM system for immediate withdrawal of funds.
Over a decade has passed and there have been numerous predictions of the elimination of physical cash and a replacment in other words with the cashless society. Some people have said that it would be well welcomed “prospect delight” were their exact words others behold it with forebonding, anticipating it to be another way in which the details of our life become subject to more frude and secretivity. There would be immediate benifit of the cashless society: theft of cash would become impossible. Bank robberies and cash- register robbers would simply be finished. Attacts on shopkeepers,taxi drivers, and cashiers qould al end. Urban streets would become safer, security costs and insurance rates would fall , property values would rise, sales of illegal drugs along with concomitant violence crime. Not all proponents are as ecstatic about the benefits as that author. However, regardless of the advantages (or disadvantages) some observers think "it is only a matter of time before the cashless society arrives." Others, though, describe the elimination of coins and currency any time soon as "a myth".
The message is simply put across and that is that within the next few years u can expect to see a great change in today’s modern society in many ways. A big change that will occur is a cashless society will come into affect who knows what year but it has already started with bankcards in banks and schools. It’s clear that it’s hear to stay so I am sure we can expect big things in the future to come.
