Many believe that in future all purchases will be made online but some think cash money will remain preferable. Increasing popularity of online payment can be a major factor for cashless society however physical money is safe from hacking and online robbing.
One reason for believing that physical money will lose its role in coming years is electronic payment. With technological development, online purchasing has become easier than ever and more comfortable. Moreover it has many advantages over paper such as monitoring monthly spendages and income on a mobile phone. For example, one can pay off bank loans, utility bills without leaving their home. In turn this may lead to using less and less cash.
However, some argue that people will never abandon using their cash money due to the fact that it feels safe and secure. Along with the technology, hacking and online theft are becoming more and more common. For the past few there have been many headlines reporting group of hackers robbing national banks. Especially seniour citizens who are less experienced in modern technology are easy to fall into schemes of fraud. Therefore physical money might be preferable for security reasons.
In conclusion for reasons stated above, it would be reasonable to say that it is hard for societies to give up paper money because it brings sense of reliablity and security from online robbery even though online payment has many comforts.