Despite resistance we are moving closer to cashless society

posted by iHeartMedia’s Cliff Saunders -

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The resistance to converting to a cashless society may be growing. That said, it’s not likely to prevent it from actually happening here in America.

Financial advisor Leonard Raskin says we could be cashless in decades or even sooner than that, and that there are pros to going without the green stuff in your wallet.

“You won’t have to carry a bulky wallet. You won’t have to carry cash. You can buy things everywhere. It’s something consumers like, and the younger you are the more you like it,” Raskin explained.

But while that all sounds good, there is a downside to all of this as well, especially as long as hackers with bad intentions are out there.

“They are trying to say this is going to be super safe and hacker-proof. But I am not sure about that,” Raskin stated.

There are countries moving ahead with this India is likely to be the first country to go completely cashless. As of a few years ago, only 2% of all transactions in that country were in cash. Sweden is close to going cashless, too.

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