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What are the benefits of cash economy?


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Feb 6, 2021
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There are many people who often discuss the benefits of cashless economy. This is because they think that it is quite easy to tackle and monitor a cashless economy. However, this does not mean that cash economy has negative aspects only. There might be many different benefits of cash economy as well. So, what re they?
I think you're referring to a society that uses cash a lot, right? something like Japan, I think there are benefits such as privacy in transactions, it helps financial inclusion and also encourages autonomy and sometimes also savings by being more aware of spending every time you pay for a service/product, although as we already know it has quite a few negative things .
In order to go cashless, all transactions need to be digital. In order to perform digital transactions, there should be internet, and the payment gateway should be able to make a lot of transactions every second. There are a lot of technical glitches related to digital transactions. cash transactions bring various activities such as printing notes, moving notes, destroying old notes and all of these activities involve cash spending.

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