Why Becoming A Cashless Society Is A Terrible Idea

The video explores the decline of cash in favor of digital transactions, driven by technology and government policies. It discusses the benefits and drawbacks of credit and debit cards, including high interest rates and merchant fees. The success of digital payments in China is highlighted, along with privacy concerns in cashless economies. The potential impact of a cashless society on government revenue and control is also examined.

What are the potential benefits and drawbacks of mobile payment systems like WeChat Pay?

What role do government regulations play in the transition to a cashless economy?

How might the elimination of cash impact consumer choice and freedom?

In what ways could a cashless society affect the underground economy?