Socio economic impact and analytics of cashless economy

A cashless society does not use banknotes or coins for financial transactions, but rather digitalinformation (usually anelectronic representation of money). As early as the beginnings ofhuman civilisation there have been cashless societies based on barter and other ways of trade, and current cashless transactions are also conceivable utilising digital currencies such asbitcoins (as well as credit cards, debit cards, and mobile payments). As a result, the phrase"cashless society" is used in this article to refer to a society in which cash is replaced by itsdigital counterpart, which means that legal tender (money) is onlyavailable in electronic digitalform and may only be traded electronically.While this idea has been addressed extensively dueto a rapid and expanding usage of digital ways of recording, managing and trading money inmany areas of the globe, transactionsthat would previously have been done with cash are nowcommonly done electronically in many parts of the world.