Economic paper

Will Actual Cash Eventually Become Obsolete? Money in the form of cash has gone through many changes in the United States and around the world in past times. The world today has gone through many changes as technology has become the primary source for everything in society today. Cash is now being transferred electronically, bills are being paid through smart phones and even things being bought at stores are being bought by the smart phones that people have now. Cash will eventually become obsolete and there will be no need for currency or coin in the future. Technology all around the world has grown to such drastic measures. There is technology everywhere people go and there is no where to run and/or hide from it. In “Post-Cash, Post-Credit-Card Economy” article, it states that the increasing number of smart phones in America is making payments so much easier, faster, and much more convenient than ever before. The smart phone contains the essentials of things we need in order to make a payment such as, identification, payment, and personal items. More and more people are now just using the internet to pay for bills and pay for wants and needs in their lives. There was a survey that was conducted according to “The Post-Cash, Post-Credit-Card Economy”, stating that by 2020 cash and credit cards will have mostly disappeared and replaced with smart devices that can carry out a transaction. Iphone companies are offering free applications on their phone so that we can buy and sell things right from our pockets such as ebay and paypal which will be much easier for people than carry loads of cash or a debit card everywhere. Paper money has been declining for quite a while since technology has kicked in and nobody ever mentions the positives and the benefits of a cashless world. Blood money, illegal trade, and selling of drugs would be limited due to no papers to be dealing with which would make crime rates drop massively. There would be a lot of people

Bibliography: -Sengupta, Somini. "NEWS ANALYSIS; The Post-Cash, Post-Credit-Card Economy." The New York Times. The New York Times, 29 Apr. 2012. Web. 18 Dec. 2012. -Unknown. "Will Paper Money Become Obsolete?" Merchants Barter Exchange RSS. Unknown, 10 May 2012. Web. 18 Dec. 2012.