-
Essay / Living in a cashless society - 1492
Money in the traditional sense no longer exists. Money is becoming more of a concept than a physical material, and most ordinary bitters have failed to see the reality of the change. Today, people use credit and debit cards regularly and in everyday situations such as meals purchased at fast food restaurants, road tolls, clothing, shopping, gas stations, etc. All these means of systems could be considered as a cashless society or society. world. The question one might ask is: what is a cashless society? What are the implications of living in a cashless world? To begin with, a cashless society could be thought of as a world in which all bills and debits are paid using electronic money, such as bank cards and credit, direct debits and online payments. payment. (Commercial definition for: Cashless Society, 2009). Looking back at history, we could see that our ancestors once lived in a cashless world. One might wonder how this was possible. The system was based on barter in which goods were exchanged for something else. My father once told me how people from the neighboring town would come to our town in Edo State, Nigeria, using a gallon of red oil, palm wine, cattle and cows in exchange of a plot of land to cultivate. In addition, people in the city also exchange materials such as clothes, shoes, etc. in order to obtain a plot of land to cultivate. When money became available, the rate at which people used the barter system decreased significantly in the sense that only a few people were still adopting to barter after the use of money had been institutionalized as a means of exchange. The use of credit and debit cards today are taking a turn in the sense that electronic money is becoming more and more admissible as the world transitions to the medium of paper society, I will say that living in a Cashless society is the way to go. Let's work together to make this dream a reality so that we can be competent and capable of reducing crime in our society. Works Cited Arbeau, S. (2009, October 16). Electronic money. “The cashless society”. October 18, 2009..Avusanjin1. (June 27, 2009). OPPAPERS.COM. “Cashless society”, pp. 1-4. October 19, 2009..Commercial definition for: Cashless Society. (2009, October 6). Retrieved October 17, 2009 from BNET Business Dictionary: .CreditorWeb. (October 11, 2009). Go cashless. Retrieved October 21, 2009 from CreditorWeb: Credit Cards Made Simple: .