Paying with JPAY vs. Paying with Cash
Another topic on cashless society? Yes, you are right. So far, we have already covered two or three topics on cashless society. However, I can not help repeating the importance of cash-free society. South Korea’s central bank, the Bank of Korea, has recently announced it is considering cryptocurrencies and blockchain applications for its project for a “cashless society”. The possible benefits are customer convenience and reducing the costs of producing physical currency.
So, what is it that makes people so enthusiastic with cashless society? One of the main benefits is reduced crime via increased security. Cash has long been the target of opportunistic thieves and its removal has the potential to reduce crimes like robberies. Cashless transactions also offer greater efficiencies, that is, consumer convenience, with tap-and-go methods cutting down long lines where people pay with cash.
JPAY has been playing a leading role in enhancing the quality of people’s life. Through JPAY, the entire process of transactions would become transparent under a blockchain model. This means benefits in relation to cost and quality, as any discrepancies or inefficiencies detected along the supply chain can be traced to the point of origin. From the method to earn JPAY Silver, that can be used in daily life to purchase goods and services, to its movement to invite as many people as possible to interconnect within JPAY platform, JPAY platform is a valuable asset to the society.
Of course, there are winners and losers. Certain groups in our society could be left behind. The older generation is not familiar with technology advancements and may not feel comfortable in handling their finances. Equally, the unbanked would not be able to make a daily transaction. As such, life can be hard for those unwilling or unable.
Therefore, it is very important for governments and private education organizations to solve these potential problems. JPAY platform has a range of education programs that offer tips and information on blockchain for the beginners. So, there is no need for you to be afraid. You will not walk alone and fall behind in trend.
Although there are risks and regulatory hurdles that make it impractical for most consumers, cryptocurrencies are already used for money transfers, and they introduce competition and innovation that may help keep costs low. A cashless society is not like something out of science fiction anymore.
※ For more information about JPAY Platform, please visit our website at https://jpayplatform.com/
