Ever since Bitcoin made an entrance and became a household name, experts have been wondering if a transition to an entirely cashless economy is likely. As the rest of our world has become increasingly digitized, it seems ever more likely. For example, NJ Online Casino List has recognized that more and more people are moving towards online casinos as every element of our economy, including gaming, moves to the digital world.
However, it is easier for some elements of the economy to make the transition to digital than others. Many people rely on cash, and some countries and cultures are more likely to prefer cash to using cards, mobile payments, or cryptocurrencies. So how likely is it that we really will live to see a cashless economy?
The rise of digital
When considering the likelihood of a cashless future, it can be useful to reflect on the rise of digital in the economy. Only ten years ago, roughly six of every ten transactions were made using cash; now, out of every ten transactions, about three are made using cash.
This massive increase in the use of digital transactions is in part because of the improvement in technology and security, along with the cost of digital slowly decreasing. Even in the last few years, digital payments have become easier to make, and a slew of online banks and cash sharing apps have bolstered the digital tidal wave.
The shift towards digital makes it clear that our payment methods are changing quickly and that, for the most part, consumers are willing to adopt ..
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