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Discussion

Band 5+: With the rise of digital currencies, some think that cash should be phased out completely to reduce crime and boost economic efficiency. Others contend that this would exclude vulnerable groups and erode personal privacy. Discuss both perspectives and present your own view.

Note: Both the topic and the essay were created by one of our users.

Technological advancements have impacted in every aspect of our scoiety immensly. Actions that people thought only ideas during earlier times have realized with this evolution. Digital currencies is one of the great achievementof this phase which is now converting our transactions more efficient.With this pace it will make cash extinct in a shorter period than we expect. Already some of the major cities like Seoul has become cashless in almsot all of their activities. This supports to boost the economy with transparency which affects the financial crimes which lead to many unpleasent consequences in past.

However this transition has its own disdvantages as well. Although scoiety as a whole scaled up to have access to these improved versions of techn ology there are still a bottom layer which is not et sufficienlty equipped to face these new challenges effectively. These vulnerable groups may be left behind the race, resulting a greater threat for their survival. Those who are benfitted with the new form of digital life also in danger with the possibility of losing their personal privacy due to numerous breaches that these digital systems facing on daily basis.

Lookling at the both the sides, my honest view point is that we should move along with the change without letting the very same change not to negatively affect the society as a whole. Security measures should be strenghten to assure the data is held securely and also a proper scheme to be developed to safeguard the poverty line people to step up the ladder to enjoy the benefits of such advance technologies.

Word Count: 262

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