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Cashless Society

Discussion in 'Traders Glossary' started by GlossaryEditor, Aug 15, 2015.

  1. GlossaryEditor

    GlossaryEditor Glossary Editor

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    A cashless society is similar to a checkless society, except that all forms of currency transactions would be handled electronically. Not only would there be no paper checks, but there also would be no physical money. This could be conveniently handled via smartcards or even biometric identification. Although this cashless concept is favored by my banks and some government agencies, the resistance to the concept includes all the existing groups that resist a checkless society in addition to privacy advocates who point out that people won't be able to pay for any item, no matter how inconsequential, without creating a permanent electronic trail.

    See also Checkless Society
     

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