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Will paper money be phased out by electronic currency?
Article Toolsby Dhammapiya
In the ancient era, mankind had used money in the form of various precious metals that were dug from the earth. As the mankind evolves gradually, the invention of paper had heightened the communications and knowledge retention between generations. It also led to the usage of paper money for the trading of goods and materials.
Come back to the present time, various type of plastic cards such as credit cards, fare cars and ATM card etc, had been used to facilitate cashless transactions.
In time to come, I believe paper money will be phased out as there are several advantages over a cashless system.
1. Reduce wastage on precious Earth's resources to make paper money. Many trees will be
saved.
2. Paper money will deteriorate and need to reproduce again. For the plastic cards, it
will last longer.
3. Having a plastic card as a form of electronic currency reduces the hassle of carrying
hard cash around.
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