Third paragraph (work in progress):
On the other hand, there are also reasons why we shouldn't get rid of paper money. One of the main reasons is that it provides a sense of tangibility and physical representation of value. Many people find comfort in being able to hold and count physical cash, as it gives them a sense of control and awareness of their finances. Unlike digital transactions, where the money is merely a number on a screen, physical money allows individuals to have a tangible connection to their wealth.
Additionally, paper money is widely accepted across all demographics and can be accessed by anyone, regardless of age, income level, or technological proficiency. Not everyone has access to bank accounts or digital payment methods, especially in rural areas or developing countries. By eliminating paper money, we would be excluding a significant portion of the population from participation in the economy, leading to further inequities and exclusion.
Moreover, paper money also serves as a backup for emergencies or technological failures. In cases where digital systems experience glitches, power outages, or hacking, paper money can still be used as a reliable means of exchange. It provides a level of security and ensures that individuals can continue to transact even when faced with unforeseen circumstances.
In conclusion, the debate over whether we should get rid of paper money is multifaceted. While there are valid concerns regarding its hygiene and vulnerability to damage, paper money also offers advantages such as tangibility, inclusivity, and resilience. Ultimately, finding a balance between digital and physical forms of currency may be the most prudent approach, taking into account the needs and preferences of all individuals in society.