Should the World Go Cashless?

First of all, what is a cashless system? A cashless society describes an economic state
whereby financial transactions are not conducted with money in the form of physical
banknotes or coins, but rather through the transfer of digital information. This system is
usually common in online shopping and transaction for example through Lazada and
Shopee.

Personally, I find this innovation as a complex yet beneficial as it eases the hassle of long
queues and other factors such as traffic but nevertheless it still has it’s advantages and
disadvantages.

Advantages of Cashless System:

1. It saves our time. Why? Because you don’t need to go to the bank just to transfer
money.
2. Improves accounting. Profits and expense can be easily encoded in the system.
3. Lower crime rates. No tangible money is present
Disadvantages:
1. Technical problems. Cashless system heavily relies on technology
2. Data Privacy. Account information is easily seen by business

So do I recommend a cashless system for the Philippines? Definitely yes. While there are
many pros of a cashless society, it is the cons that we need to focus on and
straightened out. The world can already feel the impact of a cashless society and this
may be what the future holds in store for us.

Welcome to the Era of E-Commerce

With the rise of E-Commerce advertisements lately, it is almost impossible for us not to
be aware of Shopee and Lazada. Whenever there are special events such a 11.11, I
personally wait for promotions and discounts even if it would be at midnight, and that is
how E-commerce made an impact on me as a consumer.

What is E-Commerce? Ecommerce, also known as electronic commerce or internet

commerce, refers to the buying and selling of goods or services using the internet, and
the transfer of money and data to execute these transactions

How did E-Commerce change the world?

● More and more people are engaging into online business.

● E-Commerce gives opportunity to those who prefer shopping at home.
● Consumers are shown detailed information about the product.
● Transaction from consumer to business is less hassle
● Customer service is highly available.

As a consumer, I personally feel that E-Commerce changed the world and through
technology, we are able to shop in our own comfort. We are now given a huge variety of
goods and services that we can avail.

Through technology, it has helped consumers to have a hassle-free shopping experience

and it also brought an advantage to small businesses as they are now able to broaden
their reach and widen their target market.