mo4ch:>Cashless economy can be a double-edged sword for any nation – analysts to RT | Mo4ch News

Many nations, particularly Scandinavian countries, are currently trying to embrace a cashless future where physical money is replaced with digital. RT talked to experts about the upsides and downsides of such a move.While some see a cashless society as the future, it will take years or maybe decades to get rid of paper money, according to Nafis Alam, director of Postgraduate Research Studies and associate professor of finance at Henley Business School.“Definitely, the world is moving away from physical cash due to increase usage of E-wallet, Apple/Samsung pay,” he said, adding that the upside of cashless payments is “the unparalleled convenience it offers in the form of time, efficiency and security.”However, he noted that “the biggest upside is for the regulators, who can have records for each and every transaction which makes law-breaking more difficult for tax evaders, money launderers, and black marketers.”Also on rt.comSomething rotten in the state of Denmark? Govt wants stores t…