When the term use Digital means to promote and use of digital currency as much as possible in your day today life.
It is almost impossible to boycott the material currency but we can and we must find the alternates of doing small things online too. It is also becomes our duty to teach or help them those guys who are unable to do things online.
Definition of Digitization:
Digitization is the process of converting information into a digital format. In this format, information is organized into discrete units of data (called bit s) that can be separately addressed (usually in multiple-bit groups called byte s).
Benefits of Digitization
Records of transaction: After going online every transaction will be recorded somewhere on system, this system could be of private wallets company or bank’s wallets companies. These records can use to analyse spend of user against their income.
Hike in Tax collection: Making online transaction will bring more transparency to sales system, which will encourage to pay tax by the seller and buyer.
Economy: If Tax collection will increase then government will have more money to spend on social welfare and basic infrastructure. In result economy will be better.
No Fake Currency: Everyone know Pakistan has been printing fake currency and only 10% people actually knows how to identify the fake currency. But if we do online transaction then we don’t need these materialistic currency.
Real estate cleansing: It is said that Real estate industry is built on black money. Mostly transaction done in real estate is in CASH, because tracking of cash is almost impossible. If we made payment using cheque or online government can track those transaction and ask brokers to pay correct duties liable to them.
Hawala transactions: Hawala is a method of transferring money without any actual money movement. Hawala route is used as a means to facilitate money laundering and terror financing. Hawala rackets run again on black money.
Terror and Maoism: There are NGOs and Other institutions who collect the money from donations and with help of Hawala Transaction they provide funds to terrorist and Maoist organisations to unstable India and its economy. Terrorist and Maoist organisations deals in cash because they can’t show activities which generate money for them.