Cashless Powerpoint

A cashless society refers to a system where all transactions are electronic and there is no physical paper money or coins in circulation. Electronic payment systems like electronic funds transfer and smart cards using microchips, fingerprints, or retinal scans would be used for all purchases. Transitioning to a fully cashless system could impact education, economic implications, and universal acceptance. While it increases security by creating electronic records of transactions and reducing human errors, it also poses security risks from potential technology misuse and new forms of cybercrime. Some controversies exist around reduced privacy, increased spending and debt, and difficulties for those reliant on cash. Overall, a cashless system could provide benefits once people adapt, though it also has risks that may disadvantage certain