Lesson 36. Digital Money

Task 2. C. Give extended answers to the questions

Чтобы выполнить задание нужно авторизоваться и тогда появятся кнопки "Сохранить" и "Завершить задание".

1. How has the recent implementation of contactless payment impacted everyday purchases?

2. What are the economic benefits of abolishing notes and coins?

3. What is the proportion of cash in the developed countries of the world?

4. Which payment instruments make rich countries less dependent on cash?

5. What sorts of problems are mainly caused by the existence of cash?

6. What is the percentage of transactions hidden from the government in rich countries?

7. What is the role of high denomination bills in criminal activities?

8. What are the expected fiscal and monetary improvements abolition entails?

9. Why does the existence of cash adversely affect below zero interest rates?

10. Why does going digital pose a threat for central banks?

11. How can abolition of cash impact privacy? What are the expected retaliation steps?

12. Which solution can be found to this complex issue?

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