A CASHLESS SOCIETY?

What is a Cashless Society?

Exactly what is says No paper money or coins Everything is electronic

Software and Hardware Used

EPS – Electronic Payment System EFT- Electronic Funds Transfer

Microchips/Smart Cards Fingerprints

Retinal

Impacts of a Cashless Society Transition process Education process Economic implications Universal acceptance What’s next?

Security Benefits

Electronic means of recognition Verification records of all transactions Computer errors are far less common

than human errors

Security Risks

Misuse of technology Potential for a new crime frontier Less regulation and scrutiny Economic woes

Cashless Controversies

Much less privacy Wasteful spending People taking on more debt Bad for those who are reliant on cash

Final View

A cashless society would be very beneficial once everyone got accustomed to it even though it has it’s security risks and may leave some people in tough situations. Moreover, having everything done electronically leaves less likelihood for error and makes things more secure….

Works Cited http://www.creditcards.com/credit-card-news/cashless-society-impa

ct-1264.php http://news.bbc.co.uk/2/hi/business/7894666.stm http://www.washingtonblade.com/2003/12-19/news/national/Salvati

onArmy.jpg http://freespace.virgin.net/karl_and.gnome/Images/CHAIN.gif http://aftermathnews.wordpress.com/category/cashless-society/ http://www.youtube.com/watch?v=ybKSwuIHvL8

http://www.roguegovernment.com/images/10222/creditcards.jpg

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