In a cashless society, people use more credit cards. What are the advantages and disadvantages of this phenomenon?

Essay topics:

In a cashless society, people use more credit cards. What are the advantages and disadvantages of this phenomenon?

Recently, the significance of a cashless society has sparked a public controversy, which inevitably leads to a moot question “is cardless society beneficial or not?”. While there are several drawbacks to using more credit cards, I believe that the benefits of electronic banking are of paramount importance to society.

Many commentators are of the view that there are disadvantages to the cashless economy. From their point of view, non-cash payment options are strongly related to unsecured credit, which means it might lead to both exposing the cyber fraud and losing hard-earned money to online scam and hacking of bank accounts. For example, a group of reputable scientists, working at a highly prestigious university, conducted a qualitative study to understand the relationship between digital crimes and the loss of privacy between participants of transactions as well as the lack of proper infrastructure and education among citizens. Their academic criticism was impressive. Therefore, this evidence presented thus far support the contention that financial transaction is correlated positively with not only the economic organization but also a method of payment.

However, I believe that card-less society has several advantages. For one thing, a healthy bank balance is attributable to tracking the black money and illegal transactions, in that it would lead to reducing the chances of theft from the wallet, reducing inconvenience due to carrying cash, and no risk of receiving counterfeit currency. A well-known example of such attributions is online shopping, which is cause for concern since it was mistaken in taking monetary policy for granted. Thus, tracking all transactions and levying the tax on them could play a significant role in the betterment of economy of the country, cash ratio, and money market.

In conclusion, cashless communities can be mutually beneficial under different circumstances. However, I firmly believe that online transfers not only will prove to be worthwhile but also crucial to society.

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Average: 4.8 (2 votes)
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Comments

Transition Words or Phrases used:
also, but, however, if, so, therefore, thus, well, while, for example, in conclusion, as well as, for one thing

Attributes: Values AverageValues Percentages(Values/AverageValues)% => Comments

Performance on Part of Speech:
To be verbs : 14.0 10.5418719212 133% => OK
Auxiliary verbs: 5.0 6.10837438424 82% => OK
Conjunction : 11.0 8.36945812808 131% => OK
Relative clauses : 9.0 5.94088669951 151% => OK
Pronoun: 16.0 20.9802955665 76% => OK
Preposition: 43.0 31.9359605911 135% => OK
Nominalization: 13.0 5.75862068966 226% => Less nominalizations (nouns with a suffix like: tion ment ence ance) wanted.

Performance on vocabulary words:
No of characters: 1746.0 1207.87684729 145% => OK
No of words: 312.0 242.827586207 128% => OK
Chars per words: 5.59615384615 5.00649968141 112% => OK
Fourth root words length: 4.20279927342 3.92707691288 107% => OK
Word Length SD: 3.15577385323 2.71678728327 116% => OK
Unique words: 199.0 139.433497537 143% => OK
Unique words percentage: 0.637820512821 0.580463131201 110% => OK
syllable_count: 546.3 379.143842365 144% => OK
avg_syllables_per_word: 1.8 1.57093596059 115% => OK

A sentence (or a clause, phrase) starts by:
Pronoun: 5.0 4.6157635468 108% => OK
Article: 4.0 1.56157635468 256% => Less articles wanted as sentence beginning.
Subordination: 1.0 1.71428571429 58% => OK
Conjunction: 2.0 0.931034482759 215% => Less conjunction wanted as sentence beginning.
Preposition: 3.0 3.65517241379 82% => OK

Performance on sentences:
How many sentences: 13.0 12.6551724138 103% => OK
Sentence length: 24.0 20.5024630542 117% => OK
Sentence length SD: 76.0932159578 50.4703680194 151% => OK
Chars per sentence: 134.307692308 104.977214359 128% => OK
Words per sentence: 24.0 20.9669160288 114% => OK
Discourse Markers: 8.53846153846 7.25397266985 118% => OK
Paragraphs: 4.0 4.12807881773 97% => OK
Language errors: 0.0 5.33497536946 0% => OK
Sentences with positive sentiment : 8.0 6.9802955665 115% => OK
Sentences with negative sentiment : 5.0 2.75862068966 181% => OK
Sentences with neutral sentiment: 0.0 2.91625615764 0% => More facts, knowledge or examples wanted.
What are sentences with positive/Negative/neutral sentiment?

Coherence and Cohesion:
Essay topic to essay body coherence: 0.119854857913 0.242375264174 49% => OK
Sentence topic coherence: 0.0433792236919 0.0925447433944 47% => OK
Sentence topic coherence SD: 0.0677092898978 0.071462118173 95% => OK
Paragraph topic coherence: 0.0764249716961 0.151781067708 50% => OK
Paragraph topic coherence SD: 0.0644099066245 0.0609392437508 106% => OK

Essay readability:
automated_readability_index: 16.9 12.6369458128 134% => OK
flesch_reading_ease: 30.2 53.1260098522 57% => Flesch_reading_ease is low.
smog_index: 11.2 6.54236453202 171% => OK
flesch_kincaid_grade: 15.0 10.9458128079 137% => OK
coleman_liau_index: 15.5 11.5310837438 134% => OK
dale_chall_readability_score: 10.55 8.32886699507 127% => OK
difficult_words: 113.0 55.0591133005 205% => Less difficult words wanted.
linsear_write_formula: 15.0 9.94827586207 151% => OK
gunning_fog: 11.6 10.3980295567 112% => OK
text_standard: 15.0 10.5123152709 143% => OK
What are above readability scores?

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Rates: 85.0 out of 100
Scores by essay e-grader: 76.5 Out of 90
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Note: the e-grader does NOT examine the meaning of words and ideas. VIP users will receive further evaluations by advanced module of e-grader and human graders.