English speech on cash will be discontinued
Answers
Cashless Society (band).
A cashless society describes an economic state whereby financial transactions are not conducted with money in the form of physical banknotes or coins, but rather through the transfer of digital information (usually an electronic representation of money) between the transacting parties.[1] Cashless societies have existed from the time when human society came into existence, based on barter and other methods of exchange, and cashless transactions have also become possible in modern times using digital currencies such as bitcoin. However this article discusses and focuses on the term "cashless society" in the sense of a move towards, and implications of, a society where cash is replaced by its digital equivalent—in other words, legal tender (money) exists, is recorded, and is exchanged only in electronic digital form.
Such a concept has been discussed widely, particularly because the world is experiencing a rapid and increasing use of digital methods of recording, managing, and exchanging money in commerce, investment and daily life in many parts of the world, and transactions which would historically have been undertaken with cash are often now undertaken electronically.[2][3] Some countries now set limits on transactions and transaction values for which non-electronic payment may be legally used.[4]
English speech on cash will be discontinued is given below.
Explanation:
If cash is totally discontinued, the society or the region will become digitized, which means transactions are made online. Transfer of money now is possible through internet which is highly secure.
The cases pf robbery becomes nil and the cases of money fraud increase exponentially due to the coming of cashless transactions. For this, internet must be provided at every region. Then only this can be possible.
Cashless society leads to a highly secure money transfer which makes corruption just impossible. Only a great hacker can make it possible.