1. What are some positive implications of a cashless society?
2. What could be some disadvantages to a cashless society?
3. Why do you think using cash is more effective for making wiser purchasing decisions?

A cashless society would involve further development and integration of technology, big data, and cashless payment methods. More than 80 percent of consumer transactions in the United States are electronic, and Sweden estimates that only 3 percent of its transactions are made with actual currency. Critics feel that a cashless society could be used to control consumer purchasing. Algorithms are currently used to alert debit and credit card users of fraud. Governments support the idea of a cashless society because it eliminates the cost of printing money and makes monetary policy easier. Controls can be used to protect electronic currency and guard against theft, perhaps leading to less crime. Psychological research has shown that people tend to make wiser purchasing decisions when they use cash over any other payment method.