Physical circulation of currency in the future
Cashless is growing and its growing very fast. But still, I would say it's a long way to go to achieve a completely cashless society. Also, there is a big debate if a completely cashless society is a good idea. Cashless makes you depend on electronic payments only and that has its own disadvantages. Hacking, breach, data thefts and technology problems are one thing but research shows "Increasing in spending", "Fees for different services" are some hidden issues which led some people to NOT TO USE electronic payment options.
Also, cashless transactions are not available in many places yet. Countries like India and China, two major economies are very far from achieving cashless. India, in 2017 tried some pilot projects but the results were not very good.
Cash has been allowed popularly. Now electric method has been adopted. Earlier barter system was there when people we getting one material by giving another material by exchange of goods. So there will. be possibility of electronic transactions but facility is not sufficient everywhere.
20 months ago