What would the risks and rewards be of be cashless

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Today, most of our monetary transactions are done with plastic or via bank apps, all of which are easily tracked. Even craft vendors at small town festivals use apps on their smart phones and tablets to accept cashless payments. Some argue that actual bills and coins are no longer necessary in today’s world except in cases where illegal goods and services are being exchanged. Do you agree or disagree with this? Could our society be cashless? How could you give your niece $25 for her birthday? What behaviors would have to change for that to occur? Who would resist, and why? Who would benefit? What would the risks and/or rewards be of be cashless?

Reference no: EM13868643

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