The Cashless Digitized World is on it's way. No more bulky dollars and coins just Either. How convenient for the people right? Well, wait not so fast, lets see who will really benefit from a CASHLESS SOCIETY.
Your cash card leaves a wide data trail detailing your buying preferences, used by merchants and advertisers to entice you into more buying. How convenient.
The government, of course, is extremely interested in your spending habits.
Your electronic purchase trail is nirvana to large corporations.
Monitoring against illegal habits, tax evasion, and money laundering may be considered a positive move.
It eliminates financial prudence.You’re not handing over cash, but a mere card.
Millennials, who have embraced card purchases with considerable enthusiasm, can also be lacking in financial knowledge. And that's an understatement.
Cash transactions are declining globally, and the poorest members of society are feeling the backlash.The lack of cash has marginalized those who are most vulnerable.
Cash in hand has always represented freedom, and that is now being eroded at an alarming rate.
Without cash, people become purely dependent on big banks. In other words; the Patient is with The Killer.
If we are relinquishing freedom and power for the convenience of cashless transactions, perhaps we need to consider who is on the receiving end.
