Pros and cons of cashless society.
1. Reduces risk of violent crime.
2. Reduces tax evasion.
3. Harder for criminals who rely on cash payments.
4. Quicker transactions and shorter queues.
5. Better hygiene.
6. Reduces worthless spare change.
7. Cash imposes cost on banks and firms.
1. Many adults lack access to bank accounts and credit cards.
2. Privacy issues. Government gain more control over citizens.
3. Cash helps households manage finances.
4. Freedom to choose would be taken away.
5. Cash has intrinsic and emotional value e-cash doesn’t.