I had a childhood dream of something unique inside me being associated with currency/ money wherever I go in the world and the payment systems across the globe automatically bill me or pay me. I used to visualize myself getting into a bus and the bus' eCash/e-currency system automatically withdrawing trip fare from my bank account once I get down from the bus. I even used to think satellites can track everybody on Earth so that there are no bad people trying to harm others.
I believe a world without paper currency, but only with eCash brings in a plethora of advantages to our global society. Let me list them below-
I believe a world without paper currency, but only with eCash brings in a plethora of advantages to our global society. Let me list them below-
- eCash makes transactions faster and easier.
- eCash avoids the hassle of counting currency.
- eCash avoids people from standing in queues to pay bills.
- eCash saves trees, forests and is environment-friendly, unlike paper currency.
- The eCash system with good security measures can put a check to fake paper currency.
- eCash is easy to carry to any part of the world.
- Printing paper currency needs a lot of money and effort, whereas eCash doesn't need them.
- Paper currency transmits diseases, whereas eCash is safe in terms of health.
- Once the banks of all nations deduct the tax at the receiver end of all transactions as per the laws of the land, then Governments can prevent black money.
- With eCash, one never needs to go to ATM or bank.
- All the transactions can be tracked with eCash, thus tracking the flow of money across the globe.
- eCash with good security measures can be free from theft or fraud. eCash can be secured with the DNA of its owner.
I hope the world soon moves towards 100% Electronic Cash Age. I wish players like Google Wallet, Apple Pay, and Microsoft Wallet have a healthy competition among themselves and make this dream of mine a reality. Look forward to an alternative to paper currency soon!
