In Defence of Cash by MARLON PAVONI https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d Marlon Pavoni en-us 2020-11-18 13:20:45 UTC 2020-11-19 09:40:03 UTC hello@padlet.com https://padlet.net/icons/png/1f4b0.png Pros mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/939383535 1. It's more convenient to handle money. 
2. The crime rates would decrease. 
3.  It is convenient to use a card.
4.  There is easier trading with traveling internationally.]]> 2020-11-19 00:41:30 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/939383535 Cons mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/939716937 1. Paying with cash is more private than using. 
2. It is bad for low-income communities.
3. Merchants don't make as much money from credit card companies then if they were paid with cash.
4. Migrants will have a hard time getting money coming into the country as they need the correct paperwork to get credit and debit cards.]]> 2020-11-19 03:43:59 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/939716937 Pro- It takes less money to handle digital currency rather than making and moving physical bills. We have to spend money on bills and coins which is not an issue with digital currency. Businesses often have to store the cash somewhere and then have to get more when they run out. With digital currency, there is no need to move cash and store it anywhere physically. mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/939754000 2020-11-19 04:04:21 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/939754000 Pro- With the introduction of a cashless society crime would start to decrease. When people carry cash on them they are more likely to get robbed for their money. Since the robber steals cash it is difficult to prove that it was your money. A cashless society also lowers crime by removing the value of money earned illegally through illegal gambling or drug operations. mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940193767 2020-11-19 07:32:12 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940193767 Pro- Trading and buying internationally becomes a lot easier. When you travel with digital currency in a country that accepts it you don't need to worry about conversions and local cash. Instead your phone does all the conversions for you. You also don't need to go to a local bank or ATM in the country to convert your money as its done digitally. mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940285508 2020-11-19 08:05:26 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940285508 Pros- Its more convenient to use a card for your money than carrying cash. With a card you can just scan it and the transaction is made in a second and there is no wasted time trying to worry about change or counting cash. It allows you to buy things when you want to and not just when you have cash on your person. There is also less trouble for retailers as they don't have to deal with multiple bills of cash and they only have to scan one card. mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940314832 2020-11-19 08:16:07 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940314832 Con- Paying with digital currency puts is more private. Using cash allows for anonymity as there are no accounts or addresses shared when transferring it. No one will know what you have bought or how much you spent on it when you use cash. Most forms of paying with digital currency such as credit cards will have your name, address, and what you have bought with your money which can easily be breached and sold. mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940336983 2020-11-19 08:23:47 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940336983 Con- Low-income communities might not be able to access the forms of digital currency. To use the digital currency you must open a bank account that requires an ID, which many poor and elderly people lack. Other documents like utility bills or an address mean that homeless people automatically cannot make a bank account to start earning money digitally. mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940350604 2020-11-19 08:28:28 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940350604 Con- Merchants don't make as much money from the credit card companies then if they got paid with cash. Merchants pay credit card companies 2 to 3 percent of their earnings which is a significant tax on smaller businesses. In some smaller businesses they pay these companies more than what they make as a profit. This causes them to ban credit cards from their business. mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940393775 2020-11-19 08:43:55 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940393775 Con- Migrants coming into the country will have a hard time acquiring these methods of digital currency. New immigrants will have a hard time getting the documents needed to open bank accounts and use digital money as they need to be able to sustain themselves first when they enter the country. This will lead to more homeless immigrant's looking for work. They will not be acquire things like an address or identity papers without having help from others. mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940452838 2020-11-19 09:06:05 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940452838 Reflection mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940474711 Overall the argument that we should not move to a cashless society is correct because of all the potential downsides to becoming a cashless society. There are some benefits to being a cashless society such the reduction of habit removal, convenience, and easier time travelling. However, the challenge it would be to convert to a cashless society could have catastrophic effects on our economy.
Many people will get hurt financially if we ever were to switch to cashless such as the financially unstable, the homeless, and small business owners as they are heavily hurt financially or they are not able to convert due to paperwork. The idea that many people will also lose a lot of many as a result of having lots of cash that they can't use stands out as it means many people can lose what they already have in a second. If we stay as a society that uses cash we will have less problems with our economy and still have the benefits' of using digital currency.   ]]> 2020-11-19 09:14:17 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940474711 What does a cashless future mean? mpavoni477 https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940519109 It costs a lot of effort from the government to create and manage all the money made for the country. Skipping this step and using money digitally not only makes it easier to manage it also makes it more convenient. However, it comes at the price of your privacy with companies and governments aware of your every purchase and advertizing more products based on what you buy. This can also lead to companies being cyber-attacked and you have your money and your information stolen along with your purchase history. Becoming cashless seems to be the future for society but governments are still figuring out a way to continue on without risking the safety of it's citizens.]]> 2020-11-19 09:30:20 UTC https://padlet.com/mpavoni477/4y3zlvxyq9a0v52d/wish/940519109