Benefits and drawbacks of a cashless society?

With the advent of online banking and its increasing popularity all over the world, people have kneeled to cashless payments. In this essay, I will elaborate the pros and cons of cashless society with solid arguments and relevant examples. On one hand, cashless society has been an invaluable asset for people who require frequent transactions. First and foremost, it makes our lives convenient by eliminating the need to carry banknotes in pockets. On top of that, online shopping has been made effortless by the emergence of online transaction, which has revolutionized/changed the shopping experience, while also leading to the growth of e-commerce. For instance, results of surveys have shown that more than 70% people opt (Choosing) for online shopping instead of brick-and-mortar shops. On the other hand, a plethora of inimical (negative/bad/detrimental) ramifications can be witnessed by the overexploitation of online credits. Firstly, it makes us reliant on banking system by feeding us online technology everywhere. What’s more, it makes our liquid assets vulnerable, because hackers can easily excess our accounts, which will be a huge loss. For example, researches have shown that plethora of bank customers have faced scams, which consequences a big loss of amount. In conclusion, cashless society has multiple advantages like online shopping and multiple transections with a single click. Furthermore, we have plethora of cons as well like safety problems, which cannot secure our assets.