...Many people today are using a mix of cash and online methods of payment. People are increasingly paying their bills through banks and using credit cards and other online transactions. In fact, sometimes some stores are becoming reluctant to accept cash. Does this mean that cash is about to disappear? Many people think so, but others maintain that notes and coins have too many advantages to disappear overnight. This essay will examine whether or not we are moving to a cashless society. However, notes and coins have been around for thousands of years because of their many advantages. One outstanding characteristic of cash is that it is very fast. There is no waiting for the transaction to take place. Furthermore cash is a universal language. Illiterate people can use it, and the best currencies can be used anywhere in the world. A third point is that cash does not require a highly developed infrastructure to support it. There is no need for telephone lines, internet connections, credit card reader machines, or other devices in an economy that depends on paper notes. This makes cash a very practical solution in poorer countries, where the bulk of the world’s population lives. A big advantage of cash is that the spender is able to spend only as much as he or she has. Contrast this with credit cards, where the user may spend far more than he or she has, and can even end up in debt. Some people expect that we will soon pay for everything from a microchip embedded in our hand or...
Words: 502 - Pages: 3
...Essay on Cashless Society A cashless society is a society in which cash and checks will no longer exist. A new form of funds transferal will become common such as the use of credit cards or more generally e-money. In today’s digital world, money is becoming much more a concept then a physical entity. People are using credit cards and debit cards and other kinds of electronic payments more and more everyday in order to pay for different goods & services. Still, it is part of the human nature to need a tangible mean of payment. You can count cash with your hands, you can feel it. In fact, it would be very difficult to make people trust in digital money as the only form of currency. On another hand, the cashless society has many opposants who’s biggest concern is the invasion of individual intimacy for money is untraceable, anonymous and negotiable whereas digital payments are completely the opposite, every transaction is recorded; marketing firms and governments are already using gathered information and data about internet users and people are afraid of how this information being used. However, this has some advantages such as being able to track down terrorists, drug dealers and black markets because the only mean of payment would be electronic. My last point will be about that fact that a cashless society would rely on information systems and technology. This makes digital money a sword with two edges since it is true that it facilitates transactions...
Words: 281 - Pages: 2
...As you may know our society today is very adamant on using credit and debit cards or pre-paid visas. The global establishment is increasingly pushing the notion of a “cashless society” a world in which all payments and transactions are conducted electronically, creating a permanent record for governments to inspect and track at will. Multiple governments including but not limited to, Africa and Asia to Europe and the Americas are working toward that goal. Powerful global forces including the United Nations are helping as well. Although, analysts are warning that such a shift would be nightmarish for liberty and privacy. Now there are some pros to this “cashless society” which include; possible reductions in armed robbery, tax evasion, black-market commerce, the cost of printing and securing physical cash, and more. Although critics are warning of the dangerous schemes that could be unleashed in a world where out-of-control governments can monitor literally every purchase, transaction and bit of economic activity. There has yet to be a completely “cashless society” but Israel is probably the closest and will be the first. A committee chaired by Israeli Prime Minister Benjamin Netanyahu’s chief of staff has come up with a three phase plan to “all but do away with cash transactions in Israel”. Individuals and small businesses would still be allowed to conduct transactions in cash, initially at least, but the goal is to force Israeli citizens to conduct as much business as possible...
Words: 370 - Pages: 2
...completely cashless society? --------------------------------------------------------------------------------------------------------------------------------- Introduction Paragraph-1: 1. Starting Point: The cashless society is yet another way to control and inhibit, rather than liberate people. 2. Thesis Statement: There are some very dark and great hidden dangers associated with cashless society which could even outweigh the pros of cashless society. 3. Briefly mention the topics you will discuss: The possible dangers could include the loss of control, human control, loss of privacy and identity theft, psychological effects, payment rejection and electronic manipulation and religious implications. --------------------------------------------------------------------------------------------------------------------------------- Body Paragraph-2: (Loss of Control) 1. Topic Sentence: First and foremost, cashless society is all about control. 2. Support: Imagine this odd situation where something unexpected and unhealthy such as a computer virus attack happens and your bank’s database gets deleted or tampered. Instantly you can go from the richest guy around to the poorest church mouse around. Now let’s take it further by assuming this computer viral attack was actually orchestrated knowingly by someone whose plan is to financially control you. 3. Details/Example: Electronic payment systems all involve the computer. Under the cashless society monetary...
Words: 1118 - Pages: 5
...in the Economy through Point of Sales terminals (PoS), web payment, mobile money and Near Field Communications (NFC) transactions. This enables the payment for goods and services via Point of Sales (PoS) without handling cash. The policy stipulates a cumulative daily limit of N150,000 for individual accounts and N1,000,000 for corporate accounts for withdrawal and deposit into a bank account. On exceeding this limit a cash handling cost of N100 for every N1000 (i.e. 10% of the excess amount) is charged. For instance: If you withdraws/deposits N1,000,000 in a day, the initial N150,000 will be processed free but you will be charge 10% handling cost for the excess N850,000, this means you will be paying N85,000 as charges. So, under the cashless policy you will be debited for N1, 085,000 if you withdraw N1, 000,000 and credited for N915, 000 if you deposit N1, 000,000. With the policy, a private/individual account can only do a maximum cumulative cash transaction of N150,000 with a service charge of N100 per additional N1,000, while a corporate account can only do a maximum cash transaction of N1 million with a charge of N200 per extra N1,000. Channels of Cash-lite transaction The Cash-lite transaction can be undertaking through the following mediums: Internet Banking/Online Banking: This enables normal...
Words: 1886 - Pages: 8
..."Let us hear the conclusion of the whole matter: Fear God, and keep his commandments: for this is the whole duty of man. For God shall bring every work into judgment, with every secret thing, whether it be good, or whether it be evil." Eccl 12:13-14 (KJV) FEW WAYS TO LOVE YOUR HUSBAND 1. Discover his favorite pet name and call him by that. 2. Allow him exercise his authority as the head of the family. 3. DO not challenge him when he is hurt. 4. Be silent when he is angry. You can go back to him in his sober moment with apology n explain why you behave that way that annoyed him. 5. Be quick to say " I am sorry dear". When ever you offend him pettingly, insist on his forgiveness, appreciate and kiss him when he does. 6. Speak good of him before his Friends and siblings. 7. Honor his mother 8. Insist that he buys gift for his parents and so be sure that he will do same for your parents 9. Surprise him with his favorite dish especially when he has no enough money at hand and never delay his food. 10. Do not allow the maid to serve him food when you are at home. Because u may lose him to them. 11. Give him a warm reception with an embrace when he returns, collect his luggage and help undress him. 12. Smile when you look at him and give him occasional pecks when you are out socially. 13. Praise him before your children sometimes. 14. Wash his back while he is in the tub or shower. 15. Put love note in his lunch box or briefcase. 16. Phone and tell him that you...
Words: 2015 - Pages: 9
...1.4 CONS OF A CASHLESS FINANCIAL SYSTEM The aim of this section will be to take the into account the main arguments against the establishment of a cashless society and demonstrate how they are neglectable. Author, advisor and commentator on digital financial services, David Birch has classified these arguments in his book “Before Babylon, Beyond Bitcoin: From money we understand to money that understands us” (London Publishing Partnership: June 2017). They are: conservatism, demographics, seigniorage, security and privacy. 1.4.1 Conservatism It is argued that every person has an innate sense of conservatism, a risk-averse attitude towards innovations, and anchors himself to traditional value. This is what brings some persons to think there...
Words: 1667 - Pages: 7
...clothing, and shelter. Poverty is primarily caused by hunger, illness, and thirst and affects the entire society by generating many problems and making people to live substandard lives. It is normally classified in absolute and relative poverty. Absolute poverty refers to a state of not being able to obtain basic needs such as food, shelter and clothing that are very important in sustaining life. Relative poverty, on the other hand, is a state of not being able to obtain resources in relation to a certain mean resource and normally applies to people who are not able to meet societal social needs. According to Townsend (1979), a family is considered to be in relative poverty if it is not able to afford the required diet, get involved in societal activities, and use basic health and educational facilities. Problems connected to poverty bring political, economic, and social disorder in the society. There are two theories that apply to poverty; conflict theory and structural theory. Conflict theory explains that poverty leads to class conflict in a society (Giddens & Simon, 2006). This comes as a result of the oppression of the poor by the rich. It says that conflict must remain in order to create a positive change in the society and that the wide gap between the rich and the poor is very significant. Structural function theory explains that poverty has a purpose in the society since it motivates people to work hard (Andersen & Taylor, 2006). This ensures that all jobs are attended...
Words: 1064 - Pages: 5
...The first social revolution is that of the hunting and gathering societies when the transformed to horticultural and pastoral societies. This kind of society enabled humans to stop moving around and make more permanent living areas. With dependable sources of food, human societies grew bigger, as well as the evolution of tools. This induced trade and set the stage for social inequality. Materialism brought about war. In return, wars brought about power and wealth. The second is the agricultural society. This kind of society emerged after the invention of the plow. The plow brought forth an even larger supply of food, which encouraged the evolvement of cities. People then had more time to engage in other activities such as philosophy, art, literature, and architecture. This period is typically known as the "dawn of civilization" because the changes are so abundant and profound. Social inequality increased. There were taxes and the elite surrounded themselves with what amounted to personal militaries. The third is the Industrial revolution that began in Great Britain. The steam machine was introduced to operate machinery. This tool opened the door for even bigger social inequality, more than any other ever seen. Those who first used the technology became very wealthy, and other peasants were made to leave their lands and had to move to the city, where they faced several hardships like starving, minimal wages, and stealing. This revolution brought...
Words: 313 - Pages: 2
...means they see it as something created and defined by society itself. They believe we can see the position that children occupy in society is not fixed but differs between different time, places and cultures by comparing the western idea of childhood today with the childhood in the past and in other societies. It is accepted in our society today that childhood is a special time of life and that children are different from adults. They are seen as physically and psychologically immature and not yet able to run their own lives. Jane Pilcher (1995) notes the most importance feature of the modern idea of childhood is separateness. Childhood is seen as a clear and distinct life stage and children in society occupy a different status from adults. However this view of childhood as a separate age status, children and adults being different, is not found in all societies. Stephan Wagg (1992) says “Childhood is socially constructed. It is, in other words, what members of particular societies, at particular times and in particular places, say it is. There is no single universal childhood, experienced by all. So, childhood isn’t ‘natural’ and should be distinguished from mere biological immaturity”. This means that, while all human beings go through the same stages on physical development, different cultures construct or define this process differently. Ruth Benedict (1934) argues that children in simpler, non-industrial societies are generally treated differently from their modern western...
Words: 905 - Pages: 4
...Business and Society Subject Code-3101 Fifth Semester Part : One “Business is a part of Larger Social system”-Explain from the system concept of business. (Page -12) What do you meant by move toward social concern? (Page -4) What is discontinuity? (Page -5) Define business. (Page -19) Give arguments for Social responsibility. (Page -24) Give arguments against Social responsibility. (Page -30) What is social responsibility? (Page -39) What is social response? (Page -46) Discuss the power-responsibility equation. (Page -47) What is the Iron Law of responsibility? (Page -50) Discuss the Changing role of Business Clients. (Page -59) Describe the elements of a Pluralistic social system. (Page -62) What do you mean by Diffusion of Power? (Page -66) Discuss the strength and weakness of a pluralistic society. (Page -69) Discuss the traditional business role. (Page -79) Define the Quality of life. (Page -85) Discuss the alternative ways is which business may respond to the social demands. (Page -85) Discuss in brief the different socially responsive roles played by a manager. (Page -102) Discuss the general effects of technology on society as a whole. (Page -117) What is social system? “Areas of social responsibility are expanding”- Explain. (Page -12, 7) Briefly discuss the role of socially responsive manager as a boundary mediator. (Page -104) What do you mean by social...
Words: 511 - Pages: 3
... The apparent stimulating effect is due solely to the fact that it is deadens the higher control centres and progressively the centres as well thus weakening or removing the inhibitions that normally keeps us with in the bounds of civilized behavior. It is best if their behavior has been observed while the subject is sober..which the laws “being drunk” and disorderly or “being drunk” and incapable. Laws punishing public intoxication (also known as "drunken or disorderly conduct”) vary widely among states. The different approaches states have taken to regulating public intoxication reflect the various cultural viewpoints on the issue. Some states' laws reflect the feeling that because public intoxication disturbs the peace and harms society, it should be punished as a crime. In these states, public intoxication is a misdemeanor, punishable by fines, jail time, probation, and community service. Other states’ laws reflect the view that public intoxication, especially when it is chronic, is a medical condition or social ill that can be addressed through treatment or other non-punitive measures. These laws provide for consequences that by-pass the courts altogether, including sending the intoxicated individuals to a treatment facility or a jail until they are no longer intoxicated. Some states that take this approach specifically prohibit local municipalities from passing criminal ordinances against public intoxication. Some states do not have any statewide public intoxication...
Words: 861 - Pages: 4
...day; however, many of them are unfaithful and were based on manipulate certain group of the society. Women known to be physically weaker than men, so they were usually their easy prey especially in masculine’s societies. In “Footbinding”, for John King Fairbank, illustrates a picture of women’s abuse of the tenth century in China. Chinese girls were subject to a process in which their feet were bent to make them small “… preferably only three inches long, by pressing the four smaller toes under the sole or ball of the foot” (279). That would allow them to socially fit and be able to get married otherwise they were subjected to disrespect and taunts of the community. That is how women was abused based on tradition was found at first by men. In “Shrouded in Contradiction”, for Gelareh Asayesh, I see another face of women’s abuse. Asayesh was born in Tehran, Iran where women have to wear “hijab”-Islamic covering, so they were forced to wear veil. In both cases I see traditions are being used to manipulate and abuse women as part of the society, which will lead to societies’ destruction as Fairbank says “the talent that one sees in Chinese women today had little chance to grow and express itself. This mad a weak foundation for a modern society.” (281). Women are essential part of any society, so controlling their free will to choose or treating them as possessions will impact society in general. In “footbinding”, it’s clear that women are being used to satisfy men’s need. The...
Words: 345 - Pages: 2
...problems in today's society (Author’s name) (Institutional Affiliation) Introduction Social problems are problems which are believed to distress a few or all members of the community both directly or indirectly. When people come to subsist jointly in a social background, disagreement arises from their variations in opinions concerning religion, political matters, intellectual practices, and additional fitness and hygiene matters. We are able to declare that social problems are practically unavoidable. The diverse social problems there today differ from society to society, and per se, we cannot declare that all societies encounter related social matters. Societal problems include fiscal, political, and human life matters in society. We can as well incorporate cultural matters, poverty, prosperity, religion, joblessness, toxic waste, natural resource, and assets possession as a few common causes for the rise of societal clash in scores of communities (Maxon, 2006). Social problems in today's society Societal tribulations largely result from the variation in economic disparities amid social backgrounds. The wealthy access diverse and enhanced services from what the underprivileged do and this cause moderately a prodigious quantity of problems for the public. The underprivileged are short of appropriate edification, which results in bulk employment; as a result, they engage in unethical deeds. These are matters that have an effect on the whole society unconstructively, giving...
Words: 711 - Pages: 3
...There are various forces that contributed to the cultural makeup of early civilizations; these forces also varied amongst different cultures quite naturally some forces being more influential than others. Customs, spiritual and religious beliefs that were often largely based upon population’s geographic, demographic, agriculture or available resources. Civilizations develop when the environment of a region can support a large and productive population (Sayre, 2010 p.2). These forces all contributed to the “makeup” of early civilizations, for example people in a geographic area not conducive to plentiful farming would be hunters and vice versa famers or gathers dictating their entire life style . Populations largely determined their cultural based on their means of survival and these forces and ultimately manifested them into customs, politics, laws, and an all-around societal structure. Social issues such as war and economic difficulties arose due to these forces of a civilization. Some of the main cultural influences were customs, spiritual, religious belief, laws, politics and societal structure as these behaviors were commonly passed done within a population from generation to generation. Culture is very important to a civilization, as it is the foundation of civilization. While Historical revisionism, can enlighten, bring new information and perspective forth, it can also alter or amend what we already know as history. This can...
Words: 355 - Pages: 2
