Topic: Cashless Economy: Is Society ready for transformation? - page 3. (Read 20742 times)
is it related to covid? with the cashless procurement plan, one of the benefits is to reduce the potential for physical contact in India which is already at number 2 of the highest covid in the world ... but if they are to transform into a digital economy they are not ready in many aspects
I think government and the community as well are not yet ready to adopt this cashless economy. A lot of things to consider and to fix before it will begin to accept and use by everyone in different country. Although some other country started already the cashless economy but i don't think if it will last long or just an alternative at this time of pandemic to avoid spreading of virus and less contact.
not all countries are ready to adopt cashlessly, more education is needed so that citizens are willing to work together...
China is already into it. You can pretty buy anything there with your phone so they are all up to this cashless already. If the worlds richest country are already up to it, I think the rest will also follow otherwise we'd be left behind in the progress. Crypto is paving it all for almost all industry so we can pay crypto soon.
besides Korean films, I also often watch Chinese films from the WeTv application, and there I see life in China is already cashless, all transactions are done on the WeChat application and I see they really enjoy it.
Cashless India, the Digital India programme is a flagship programme of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy. “Faceless, Paperless, Cashless” is one of the professed roles of Digital India.
Lets discuss!!
My opinion on this is that the cashless program can run more optimally if education is carried out equally, this also stems from social disparities. There are a lot of people out there who don't touch digital technology, so what about that person's fate? the graph of the person depends heavily on the social inequality in the country. I'm sure there are many here who want digital technology to continue to grow because it makes all our activities easier, but try to look at the other side. Lets discuss!!
It is still need a lot of adjustment in the part of the people. Not all are ready for the paperless or cashless economy. People needs to be educate regarding this matter. Anyway Cashless economy is better to transact easily and virus spreading of virus.
Being educated about the things related to a cashless society isn't enough, one must be capable of owning a device that can help them in their cashless transactions and let be honest that not everyone have devices or something maybe majority have device but still some people dont have it and if they will continue this thing and is implemented imagine the distance you made from people who can adapt to cashless society and from the people who can't, it will affect your society so i think before we think of those things we should take thing step by step, starting with educating them and setting a level where all people can adapt to it and then we can continue those kind of visions.
It is still need a lot of adjustment in the part of the people. Not all are ready for the paperless or cashless economy. People needs to be educate regarding this matter. Anyway Cashless economy is better to transact easily and virus spreading of virus.
The readiness of a certain country to adapt into shifting from the traditional way of doing payments which is using paper money going to cashless which is on digital manner depends upon the capacity of the country which relies on the advancement of technology they have and if the people is willing to use cashless instead of paper money. Here in my country we are both using cashless and paper money depending upon the need and the capacity of the certain individual to acquire the service. Going cashless is a pretty good idea specially we are trying it at this stage where pandemic is present and the usage of transacting through cashless mode of payment is advisable if you have the capacity to access the service. But for other people who still patronize using paper money, it is their own pick of choice so we just need to respect it.
I think technology is one thing to take into consideration when doing a switch into a cashless economy. But for a hole society to really stop using cash we also need to work on the abilities of elderly people to learn new things. The understanding of the Internet and digigil payment on particular is not really their for my grand parents. Even my parents are struggling to do online banking. They just prefer the human contact with bank personal, and want to get their money in physical form. Without a physical wallet most of the elderly people would feel naked.
With proper government intervention these services will be easier to use without cash and the effects of the epidemic will be overcome from the redistribution of tax revenue collected from the rich through the state and control over the supply of money it is possible to eliminate inequality to some extent by distributing the money earned by the government among the poor. Can give more help to the poor masses india has developed a cashless economy, only 2% of people are accustomed to digital transactions there is no internet service in all parts of the country.
The readiness of a certain country to adapt into shifting from the traditional way of doing payments which is using paper money going to cashless which is on digital manner depends upon the capacity of the country which relies on the advancement of technology they have and if the people is willing to use cashless instead of paper money. Here in my country we are both using cashless and paper money depending upon the need and the capacity of the certain individual to acquire the service. Going cashless is a pretty good idea specially we are trying it at this stage where pandemic is present and the usage of transacting through cashless mode of payment is advisable if you have the capacity to access the service. But for other people who still patronize using paper money, it is their own pick of choice so we just need to respect it.
Certainly not in India, because I do not consider this country to be sufficiently developed. It is enough to watch videos about India, and it becomes clear how poor this country is.
We are also promoting the same thing here in our Country. But only to some selective cities wherein people could easily adopt Cashless payments and everything digitally. Its not quite easy, especially to the older people who doesn't have knowledge in modern technology and those who are living in remote areas that are continuously using their traditional ways of securing funds and payments.I think the whole world is not so ready yet, and it would just more accessible in rich countries and cities. I believe that there's still a lot of uncivilized cities and the absence of internet, signal and technology are the main hindrance to practice this New normal ways of financial management. Maybe in the future.
This is a common global process that will drag on for many decades. The transition to using non-cash payments is very convenient, especially in urban areas. However, you should always remember that non-cash money is full control over your money by government agencies. Therefore, cash is also necessary and should not be completely abandoned. And it will hardly be possible to do this so quickly. Yes, people are happily ready for cashless society. Everyone wants this type of facilities and transformation. People avoid to carry cash with them. They all are concerned with security. In this way people make transactions quickly and easily. That's why people wants this transformation
I disagree. Not everybody in this world can afford or has the ability to become cashless or can used virtual money as a payment method such as credit/debit cards and mobile wallets. It's true that being cashless is convenient because you don't need to fall in long lines to buy goods and pay your bills. But when it comes to security, we are not completely sure if all of our funds are 100% safe and secured, that is why physical money cannot be replaced and virtual money will remain alternative payment. well it is a must as we know that money can be a large possiblity of virus circulation..that is why in my country they encourage people to use cashless transaction such as using their electronic wallet or digital payments..
It can still be possible to use the traditional transaction like in malls that are accepting fiat or physical money. The only requirement needed is to observe the minimum health protocol to avoid getting the virus. This pandemic will going to end somehow but I do not know if when but it could end of course. Experts are already doing their best to make the cure and vaccine for this virus. I think China is already ready for phase 3 after russia announcing that they are already in the phase 3 trials. Western countries had also announced to proceed in phase 3 trials of their vaccine making.
well it is a must as we know that money can be a large possiblity of virus circulation..that is why in my country they encourage people to use cashless transaction such as using their electronic wallet or digital payments..
Maybe it will takes a long time before it happens, there are more problems that should be given priority to focus on India. There are richer and developed countries but still not implemented cashless economy. Maybe at this time it is not yet possible for India to adopt that kind of transformation. But if they persevere and the majority continue and support the change they want, they may be able to do it gradually.
It is coming slowly in all countries around the world.
Just think of how many people was paying with their card for their purchases before 5 years.
Now even the elderly is paying with cards for their groceries with is a huge step toward cashless adoption.
Maybe it will takes a long time before it happens, there are more problems that should be given priority to focus on India. There are richer and developed countries but still not implemented cashless economy. Maybe at this time it is not yet possible for India to adopt that kind of transformation. But if they persevere and the majority continue and support the change they want, they may be able to do it gradually.
The idea is good but this time they are suffering from the very bad economic condition. so they should solve poverty and jobless problem
Poverty is a problem in this world and I don't think we could solve it. As long as there are people in the extremes of the line of both sides, they will not go closer to the middle. I think they should focus on the problem with the unemployed even before hitting the main boss since it is an achievement you could use to fight against it. Then maybe just widening the availability of jobs, that would not just help people but the country as a whole.
I do not believe that the Indian government is capable of running a cashless economy program, because the reality is that it is not
that easy for a country to implement Cashless economy. Even big countries are still unable to run a cashless economy, because several
economic sectors still need it presence of cash money. I am sure the Indian government promises that these are only political traps
that are usually promised to the community.
that easy for a country to implement Cashless economy. Even big countries are still unable to run a cashless economy, because several
economic sectors still need it presence of cash money. I am sure the Indian government promises that these are only political traps
that are usually promised to the community.
I do not think the cashless policy is going to work in India. Developed countries like the USA, where the rate of illiteracy is low if not zero, still use the cash policy.
The government should be ready to accept that a project like will have slow adoption with the masses. A lot of the people are illiterate and semiliterate. Many can't even operate the computer system.
I however do believe that if the government remain persistent and pull their resources towards educating the citizens on the use of cashless policy, they will get to finally adopt the cashless policy.
The government should be ready to accept that a project like will have slow adoption with the masses. A lot of the people are illiterate and semiliterate. Many can't even operate the computer system.
I however do believe that if the government remain persistent and pull their resources towards educating the citizens on the use of cashless policy, they will get to finally adopt the cashless policy.
We are also promoting the same thing here in our Country. But only to some selective cities wherein people could easily adopt Cashless payments and everything digitally. Its not quite easy, especially to the older people who doesn't have knowledge in modern technology and those who are living in remote areas that are continuously using their traditional ways of securing funds and payments.I think the whole world is not so ready yet, and it would just more accessible in rich countries and cities. I believe that there's still a lot of uncivilized cities and the absence of internet, signal and technology are the main hindrance to practice this New normal ways of financial management. Maybe in the future.
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