In the pursuit of going cashless, we’re degrading a flawless lifestyle

 -“Cashless”: the future of money or a utopia?

Plastic Money is the substitute for cash. We have outlived an epsilon witnessing, how plastic money from being frowned upon has emerged as a forest fire. There is no sorcery denying the fact that in the pursuit of driving cashless, we’re debarring ourselves from the chasms of a contended life. All these materialistic pleasures and shimmery human lusts, how far will they fare one? Everything comes with a price tag! All the joys, sorrows, and even the existence. In this macrocosm, we ought to pay for the minuscule resources utilized to our ill-greed. Nothing is free, free is nothing.

Sustainable Development is the product of a sustainable lifestyle. But if the roots prevail higgledy-piggledy, one cannot expect the tree to grow upright. Likewise goes for a cashless society.

Smartphones rely on the use of rare-earth metals, and digital economic activities require a large amount of electricity, often sourced from coal power plants. (The Conversation, 2018) This contributes to a rise in greenhouse gas emissions and e-waste generation, thereby widening the disparity between the digital and green economies. Despite the threat that keeps pendulating, the loopholes tend to seemingly lie unattended. The cashless drive is letting invaders into an open hive of destruction, the destruction of fundamental peace, and the reluctance to initiate. Not only this, the greed of mankind barters assets instead of cash. Isn’t it ironic, how these assets then shoot back at the beholders as liabilities?

In the mid-1990s, during the Digital Divide and mid-2021s, it could be seen as a triggering glaze of alarming signals. Despite the threat of climate change, the global digital economy is progressing rampantly as entities from all walks of life are embracing the idea of a cashless society. Where the comforts of a cashless society are not covert, the tumultuous effects it waves along cannot be blindfolded on too. In the pursuit of going cashless, we are degrading a flawless lifestyle. On similar grounds, ‘cashless is the new harmful’ stands cent percent true.

Having a solid flow of cash prevents fraud and transactional failures. To cite, ‘what goes in, comes out.’ When it is the plastic that we are inserting in, then there’s no denying the fact that degradation and even humongous heaps of plastic will be generated as an Output. Plastic not only obstructs the notion of a ‘perfect dwelling’ but also turns out as a life-threatening drug for fauna. Unaware of the fact, how lethal this plain-vanilla substance is, animals tend to consume it, then struggling to survive.

Future and scope of cashless economy

“Going cashless not only eases one's life but also helps authenticate and formalize the transactions that are done. This helps to curb corruption and the flow of black money which increases economic growth. The expenditure incurred in printing and transportation of currency notes is reduced.” (Future and Scope of Cashless Economy in India, Mr. Pradeep H. Tawade)

This is a generation of self-centered people. Isn't it paradoxical that while the Homo Erectus grew amidst nature's lap, Homo Sapiens have demolished the sustainability of the ecosystem; leaving nothing, but void as a residue?

To aid the eroded, effective measures boom as need of the hour. By not only ensuring an increase in the digital economy but also controlling the effects of climate change. Some of the steps deployed include-

1. Eco-Friendly Garbage: Eco-friendly or green garbage, an initiative by Grow Diesel combats the problems of open pits adhering to ‘Go Green, Go Clean.’ In modern times, the idea of the notion, “Garbage” has seemingly changed. ‘Sometimes I find a Rupee in the Garbage’ (Anees Jung, Lost Spring) portrays the vitality of titbits. Jung quotes, “Garbage to them is gold.” On parallel grounds, the 3 I’s- Initiation, Innovation, and Invention can transmute the futile to fruitful.
2. Plastic-Eating Caterpillars: To get rid of the degradative it has to be eradicated from the roots. Plastic is not a modern problem. It had been evil in disguise since primeval times. To cease exploitation of resources, plastic-eating caterpillars come to the rescue! These microorganisms break down plastic into simpler constituents and consume it, leaving behind zero residues. Plastic can, to some extent, be seen coming as a ‘clean waste’ now.

 

‘Palpable perfection is a mean mentor and a fickle friend.’

How do we equate the usefulness of plastic money without deploying lethal alternatives?

If not plastic money then what?

There’s no denying the alarming rate at which plastic is jeopardizing the health of mankind. Health is the prime stealth. But the question which bamboozles is, “If not plastic money then what?”

Two roads now diverge here-

CASE I: Thinking smart, and switching to Smartphones. “Smartphones are the new credit cards as digital payments give cash a run for its money.” (The Print, 2018)

CASE II: Deploying ocean plastic credit cards. With its zeal to “democratize” the banking sphere, Tridos, one of the world’s leading sustainable banks has launched a campaign- “Don’t be a fossil fool” to raise awareness about the lack of sustainable investing. (euronews.green, 2021)

 

Hypothesis:

If cashless prevails, flawless can never be inhaled. There is a direct correlation between the two, a hike in the cashless economy will boost malpractices.

 

Analysis:

While both- cashless and cash-driven pose perks and flaws. An individual should strive to exemplify his potentials and maintain an equilibrium, despite how weary the extrinsic flow sways. A cashless society brings centralization of power. Whilst, the opposite ensures decentralization of power.

 

Conclusion:

Observation portrays transition between economies as a major rift. While considering the virtues for holistic benefits, cashless is not recommendable.