Globally the concept of digitalization of currencies restricts people from paying using cash in their shopping. Current technology and the knowledge of individuals may be barriers to this implementation. Some people believe that cash payment is safer than digital payment.
New technologies may be introduced the society after giving a good platform to learn by everyone. Awareness camps in all parts of the nation will help to educate major portions of the individual. The primary focus of these camps should be to explain the working principle of this technology and the security mechanisms involved in it. Secondly, focus should be given to the facilities and necessary arrangements across the nation. For example, currently digital transactions are slowly being adopted by everyone in our nation.
Digital transactions are the easier way to complete transactions. But few fraudulent transactions make the individual stay away. For every single step in the process, they need to be careful. For example, online transaction password (OTP) and CVV of the cards were key factors for many successful fraudulent transactions. It is difficult to identify the authenticated and fraudulent user over the phone call or with messages. So, people do not like to lose their money by adapting to new technology and still, they feel safe with the traditional way of transactions.
To summarize, every new technology like digital transactions may be implemented and accepted when they find enough infrastructure and practice provided. Enhanced security measures should be analysed, addressed properly, and demonstrated to the end user of this technology.