After living in Korea, a very highly advanced country, I can say that living in a cashless society makes transactions a lot easier and faster, and depending on the policies and systems in place, a lot safer and more secure. It frees up a lot of space in your pockets and in your wallets. In fact, you don’t even need to bring your wallet. All you need to bring is a debit card, or if your bank has a mobile app, then you just need your phone and a good internet connection. Thankfully, if you can find WiFi anywhere, then you’re all set.
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So, what are the steps toward becoming a cashless society? Australia is currently underway toward becoming one, and even though they are not completely there yet, it only takes a few years to prepare and be fully cashless. But as it stands, there are already players who are invested and are well on their way to taking advantage when the time comes that Australia becomes a cashless society. I’m not sure about America, but from what I can surmise, it might still be a long way before the US can become a cashless society. It’s not really a priority at the moment. However, the benefits of transitioning into a cashless economy, I would say, greatly outweigh the costs it would take to fully implement. What are your thoughts on the matter?
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Source: neatorama