What a Cashless Society Could Look Like
These days in 2021, cash has been used less and less as time moves on. With the access to payment options like Apple Pay, Google Pay, Cashapp, and more, paper money doesn’t seem as useful as it was in the past. For example, Amazon made a shop where all you’d have to do is connect to your Amazon account, and whatever you buy will be automatically charged to your account. This makes shopping for groceries ten times easier and quicker. We all know the slowest parts of going grocery shopping is waiting in long lines to pay for it.
To build upon that, more small businesses are cashing in on the idea of cashless transactions. Paypal has been a big part of that movement, sellers can put up their items for whatever price, get the payment almost instantly and ship the item with no problem. Some apps even offer digital cards, Like Robinhood for example, you wouldn’t have to directly withdraw your money from stocks that you’ve invested in. Instead, you could get a digital card for free from them and use the money directly from there. In my opinion, I feel like it’ll only grow from there. I think more shops will inherit the idea that Amazon started to hire fewer cashiers and ease the shopping experience for customers.
From a business standpoint, it’s a great investment to lower spending costs and gain profit. Of course, some of the downsides of society moving in this direction is that potentially there will be more jobs being lost in the process. Since fewer people will be needed for jobs like Cashier or Sales associate, millions of people will potentially be let go, but there will also be more openings in the tech development side of things since it’ll need constant upgrades in the future.
Overall, a cashless society has its pros and cons, but it's best to be prepared for it since we’re already headed in that direction.
