The main disadvantages of a cashless society consist of privacy issues and computer hackers. One of the main issues regarding the implementation of a smart card/chip that would record and control all financial transactions electronicallyis the assault on privacy. With all private monetary data exposed to government officials many citizens may believe that the government has substantial power over society by having access to these types of confidential information. Another major disadvantage with a cashless society is the risk of computer hackers. Computer experts, working for themselves or for hire, might alter our records, create fictitious millionaires, set up dummy companies, and so on. In short, they could create an electronic underground society as well as contribute to the issue of identity theft. Warwick attempts to persuade the reader that the major benefits... [continues]
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(2009, 06). Cashless Society. StudyMode.com. Retrieved 06, 2009, from http://www.studymode.com/essays/Cashless-Society-216060.html
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