Cashless Powerpoint1

This document discusses what a cashless society is and the impacts of moving to one. A cashless society refers to a system where all transactions are electronic and there is no paper money or coins. Software like electronic payment systems and hardware like microchips, smart cards, and biometrics are used to facilitate electronic funds transfer. Moving to a cashless system would impact the transition process, education, economics, and universal acceptance. It could provide security benefits like electronic verification of transactions but also security risks if technology is misused. Some controversies include less privacy for individuals and difficulties for those reliant on cash. Overall, a cashless system may be beneficial once people adapt, though it comes with security challenges and could negatively impact some groups