The age of using paper and coin money is nearing the end. More and more people are using Debit and credit cards because with one swipe they replace the handling of cash completely! Also, more places of business accept credit and debit making it a viable replacement to cash. First off, card based payment take up a lot less space than cash and coins and do not get worn-down or rip. You can also put as much or as little money on it as possible and can always add more.

Although, a no-cash system is very appealing, there are several issues that must be resolved before this can be successfully implemented. The first and probably most important issues is security. Identity theft and credit card fraud occur way too often and would become even worse if people use cards for their daily cash. They need to implement better security, I would recommend adding thumb print scanning in addition to the signature that is already required. I also believe that if this system is implemented that law enforcement officials need to treat fraud as a much more serious crime because this could rob someone of everything they have and the criminal can be out on the street in 10 years, this is unacceptable! The next thing that needs to be implemented is a universal system because as of now, some stores take some credit cards and not others but, if people need to depend on cards as their daily currency, there needs to be one card that works everywhere across the country. This may be difficult to determine because every big company will want to get it but, there needs to be one universal system or every store must take every type of card, which makes one universal card seem much more feasible. The final thing that needs to be implemented is a better way to monitor your account online and send alerts to moble devices. Mint.com has excelled at this but there are still features that need to be added.

A world without cash will be interesting because people can buy products much faster and waiting in line will be a thing of the past. There is a lot of work that needs to be done before this can be done but, I think that this will begin to shift in the next ten years if not sooner. I am all for this asking as the security issues are addressed and repaired.