Ever since Crypto has proven to be a good alternative to SWIFT and other online transaction system a lot of things are being said against the cash. Like even the CeFi system that make use of the online means for money transfer have benefited going against the cash. There are lot of benefits to stay on digital system and it can protect you legally. Also the money transfer and the various benefits that comes with it makes it a good choice.

So why I am against the cash? What is something about cash is not being served? Why it should be limited in your daily life?

Frauds

I remember there was once transaction made by my friends ageing parents. They paid the cash to one of the office and there was no confirmation be it paper or any form of legal confirmation of cash being paid. A lot of times even if the paper conformations are given the seller or the other party that gets the money does not abide by the rules.

And the way the legal system works fighting against this goes against the system in general. You would find that our parents and their parents dealt with this type of the stuff. If they did anything good with such transactions and survived, that's only because they met the good people. Otherwise the predators in the system around the world were ready to leech off the gullible crowd.

Crypto or even the govt based digital payments have transaction IDs which you can take to the court and fight with. But that's not possible with cash, for years the trust was the real reference number or transaction number in many places.

Tax Evasion

A lot of people even to date hate the digital payments and the crypto because they want to show the system that they are poor. And they want to HODL the properties but don't want to pay taxes. So they force everyone around the system to pay for the stuff using the cash. They are the first one to panic the moment govt goes into the digital system. They will panic even more if the crypto becomes norm.

They would find it hard to evade tax. So they will fight tooth and nail against the digitization. I recently had very bad experience with landlord who denied he got my deposit for booking of the flat.He wanted to evade the tax so he asked me to pay through the cash system. And there was no trail of proof for me paying him cash. Later he denied, and it was the game done on me. I know being a preacher of crypto, i should have seen that coming but yeah as you can see desperate times are the high ground for mistakes.

Safety of Funds

A lot of people are living in areas where the fund safety is an issue. Like cash funds in your hands can be a big issue if your neighborhood is risky. Like some people get their bikes, cars stolen. You can imagine the cash kept in the house can be pretty much problematic. This means the digital payments be it some CBDC or the crypto which is decentralized is more secure.

Another thing is that more population, more safety issues because you don't know who is going to be the predator in near future. And this also means that you are going to struggle on the safety of funds. Some people even experience that issue inside the home because they are being manipulated on that point where the funds handling becomes issue at home too.

We are very close to the time where we are going to reach a point where cash is going to be liability. And considering there are more issues with cash transactions we are going to face a time where cash transactions would be illegal or will be treated shady. I feel this is one of the reasons why we should have blockchain and digital payments where trail can be traced.