Digital currency could change the world as we know it. A cashless society could pose a risk of negative consequences and positive effects.  

Some of the outcomes of digital currency adoption could leave people out of the system supposedly trying to help people have an easy and safe way of transacting.

However, there is also an underlying issue of invasion of privacy. More than ever before, it’s not hard to notice that people with more power than you can always limit your access to facilities or other resources, especially if you don’t comply with their ideals. Having autonomy over how you can buy things without using your digital devices or bank cards is a privilege that could soon be something of the past. 

Overall, the digital economy might be deemed limitless. But, is the digital economy free from interference by government agencies or organizations that might cut off access to your funds based on biased data reporting?

Behavioral science could be utilized to foster a narrower view of normalization expected from society. The inability to comply could lead to being excluded from enjoying everyday comforts like traveling, shopping, or certain facilities.

Digital currencies can also foster creative solutions. For example, it could create solutions for those excluded from participating in the digital economy, due to lack of education or age advancement. The younger generation could be at the forefront of teaching the older generation about blockchain technology and how to use digital currency to meet their immediate needs.

On the other hand, a cashless society could restrict financial growth or gains if you do not choose to play the game according to the rules set out by a certain group. It could also be a means to control people’s ability to achieve more than they would want. For example, in the future, a cap on CO2 emissions could limit the car you want to buy based on your current emissions.

Digital currency could also be used to safeguard assets, while access could become linked to how you comply with groups’ regulations. The threat of cybercrimes is another problem we will have to live with. At the same time, the cusp of the 4th industrial revolution is dependent on the adaptability of digital currencies globally. Those left behind could see themselves unable to make a decent living to support their families, as machine learning and artificial intelligence do things quicker.