Microsoft Word - ECCU Creative Youth Competition Essay KAH

ending of Carla’s and Shaun’s stories will depend on ECCB’s willingness to acknowledge the

challenges on both sides of the figurative coin of a cashless society.

While it is apposite to note that the Bank’s cognizance of the direction of technological

advancement in relation to the region, I would recommend restraint in the implementation of a

process we barely understand, much less appreciate its impact. As in all things financial, a more

gradual approach is suggested. As the world of digital buying and crypto currency has already

proven that cash isn’t always necessary, protocols should be established that brings businesses

and government entities to offer online services. This should encourage a move toward

cashlessness. Conversely, we must take into consideration people like Carla, existing in the grey

economy, both unable and unwilling to change their way of conducting business.

Therefore, a cashless society would be a less daunting, more sensible prospect, it its

implementation were tempered with a hybrid system of both cash and cards and takes into

consideration people’s propensity to adapt to change. The world revolves around money and

removing it completely may invite unwarranted consequences for which we are not prepared.

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