| Summary: | 碩士 === 國立中央大學 === 產業經濟研究所在職專班 === 102 === “Cashless Society” is an inevitable urge, rather than a fancy concept.
Historically, from consumers’ perspective, the desire to move away from
conventional monetary systems is pronounced. The realm of pursuing an
efficient and secure trading system is clearly evident from the progression of the
monetary system: from the barter economy to the notes-and-coins cash monetary
systems, credit/debits card (aka the plastic money), and the widely discussed
mobile money systems. As a consequence of free market economy, the
economical system is now entering the so-called micro-profit era, where the
business environment is facing an intense competition in price and return. In
accommodation with this transition, most governments and financial departments
would also prefer a cashless society for the following reasons: Recessions and
deflation may be alleviated through regulation of interest rates, rather than the
Quantitative Easing (QE) undertaken by US, or other questionable innovations;
Cashless trading would not only reduce the production cost associated with paper
notes, but would also empower criminal suppression by allowing governments to
track all transactions electronically.
It is therefore a foreseeable trend to go cashless. However, how to implement
safe and efficient cashless trading is still a question mark. One conceivable
solution, with the state-of-art, may be through the integration of intelligent
identification: possible intermediates to advocate adequate security may be
through a smartphone, necklace, bracelet, watch, or biological features, such as
fingerprint, facial feature and eye iris. Speculating that smartphone combining
intelligent identification being the most likely cashless scheme in the coming
decade, this study shows the trend by summarizing the evolution of monetary
system in the world. This study also discusses the potential problems and
solutions when promoting cashless trading in Taiwan, based on other countries’
experience. Although technology development may help lay the groundwork
toward cashless society, it is of particular note that the ultimate cashless utopian,
is an “absolutely” secure and efficient trading system free of any intermediates.
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