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A Cashless Society

By | May 2011
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A Cashless Society
A world with electronic banking
Latisha N. Patterson
J. Sargeant Reynolds
Professor Anderson
ECO 120-DL01
November 18, 2010

Abstract
Electronic cash is a term becoming more acceptable as the world makes a shift towards a cashless society. Since the 1960’s governments and financial institutions have made steady but slow steps towards the goal of a society without cash. The cashless society is being sold as a more convenient method of payment, and a method of preventing crimes all the way from the robbery of cash from an individual to the extent of money laundering among crime syndicates. The move to use electronic cash in an ironically termed society dubbed “cashless”; there are many issues that include security, privacy, crime and computerization. We as a society must as a whole be comfortable with this new shift or the tendency to rebel becomes prominent. As the financial institutions have implemented such things as debit cards, credit cards, internet banking, etc, it has slowly brought society into the acceptance zone whereby another step could be taken. Without society being able to understand the pros and cons of electronic cash, the full benefit of the cashless society may never be realized.

A Cashless Society
A World with Electronic Banking
The purpose of this writing is to make people aware of the issues surrounding the topic of electronic cash and it’s tendencies towards the cashless society. Electronic cash, or other disguised methods of conducting business transactions without cash, have been around since the 1960’s, and have become more predominant in today’s society.

This essay will discuss some of the main points of concern when talking about a world without visible cash, a world that seems to some as “make-believe”. It discusses the very important issue of non-acceptance of electronic cash, which is still predominant among the elderly. There does seem to be an undeniable trend towards the use of...

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