Should Cash, Or Not?: Cash Or Not?
Cash or Not?
Whether or not cash should be eliminated is a big debate in our world today. Cash should not be eliminated to provide for safer control of your money. Without cash, plenty of problems appear like acts of crime, not having banking connections, and having your personal information on record.
To start off with, criminals and hacking progress as technology does. In the Upfront magazine article called "The End of Cash", the author says, "Security experts worry, for example, that hackers could wipe out entire savings with a few clicks."(Stoffers). If all of your money is online, and a hacker decides to steal it, you have no money to lean on until you get back your money or you save it up again. Another quote, out of the article, "Cashless …show more content…
The Atlantics Conor Friedersdoft wrote in "Why Killing Cash Makes Sense", that, "An end to cash would mean that every financial transaction is exposed to a third party," making everyone's spending history searchable by authorities and available to banks and other industries that might not have our best interests in mind."(Davidson). With digital money, every transaction is traceable, and many people that are not trustworthy may be able to see these transactions. This infringes on your privacy as a citizen. To add on to that, Kevin Cochrane stated in "The upsides and downsides to eliminating paper currency" that, "With no currency, every transaction flows through some electronic system where it's ultimately available to anyone that can access it: bank employees, government agencies, even hackers."(Cochrane). Every purchase you make will be recorded, and anyone who can access your account can see it. Your money is not protected well. People will spend all day being anxious, hoping, that when they return home, they will have a full bank …show more content…
Another quote by Kevin Cochrane in the same article, "The upsides and downsides to eliminating paper currency", says, "Not everyone has a bank account. How will the unbanked get access to their money?"(Cochrane). In the article "The End of Cash" in the Upfront magazine, Carl Stoffers said, "There are 7% of Americans-about 24 million people, most of them poor-who are "unbanked", meaning they don't have bank accounts to be linked to digital forms of payment."(Stoffers). That’s 24 million people in the U.S. that wouldn't have access to any money, on any bank accounts. That many people would be out of money for any certain amount of time, which could harm their daily
Whether or not cash should be eliminated is a big debate in our world today. Cash should not be eliminated to provide for safer control of your money. Without cash, plenty of problems appear like acts of crime, not having banking connections, and having your personal information on record.
To start off with, criminals and hacking progress as technology does. In the Upfront magazine article called "The End of Cash", the author says, "Security experts worry, for example, that hackers could wipe out entire savings with a few clicks."(Stoffers). If all of your money is online, and a hacker decides to steal it, you have no money to lean on until you get back your money or you save it up again. Another quote, out of the article, "Cashless …show more content…
The Atlantics Conor Friedersdoft wrote in "Why Killing Cash Makes Sense", that, "An end to cash would mean that every financial transaction is exposed to a third party," making everyone's spending history searchable by authorities and available to banks and other industries that might not have our best interests in mind."(Davidson). With digital money, every transaction is traceable, and many people that are not trustworthy may be able to see these transactions. This infringes on your privacy as a citizen. To add on to that, Kevin Cochrane stated in "The upsides and downsides to eliminating paper currency" that, "With no currency, every transaction flows through some electronic system where it's ultimately available to anyone that can access it: bank employees, government agencies, even hackers."(Cochrane). Every purchase you make will be recorded, and anyone who can access your account can see it. Your money is not protected well. People will spend all day being anxious, hoping, that when they return home, they will have a full bank …show more content…
Another quote by Kevin Cochrane in the same article, "The upsides and downsides to eliminating paper currency", says, "Not everyone has a bank account. How will the unbanked get access to their money?"(Cochrane). In the article "The End of Cash" in the Upfront magazine, Carl Stoffers said, "There are 7% of Americans-about 24 million people, most of them poor-who are "unbanked", meaning they don't have bank accounts to be linked to digital forms of payment."(Stoffers). That’s 24 million people in the U.S. that wouldn't have access to any money, on any bank accounts. That many people would be out of money for any certain amount of time, which could harm their daily