Students Debated the Cash Payment Future
26/12/2024
Students of the Faculty of Economics of the University of Montenegro participated in a debate titled Digital Transformation Ends Cash Payments organised by the CBCG to promote financial literacy and encourage students to think about contemporary economic topics.
The topic of the debate is current since digitisation increasingly shapes the way modern payment systems work. At the same time, different forms of payment continue to coexist, reflecting the users' various needs.
The students presented numerous arguments supporting the digital transformation of payments, such as transaction speed, security and flexibility. Proponents of digital transformation also highlighted the benefits of digital payments, such as increasing the economy's efficiency, reducing transaction costs, and contributing to reducing the non-observed economy, citing global examples of countries such as Singapore, Sweden and Norway.
On the other hand, they also discussed the challenges of transitioning to fully digital payments. The debaters pointed out the importance of cash in preserving transaction privacy, the financial system stability in crises, and its significance for vulnerable population groups. They also highlighted the security risks of digital transactions, such as cybercrime and technological failures, and the challenges related to insufficient digital literacy in some regions of Montenegro.
The CBCG Vice-Governor, Ms Zorica Kalezić, who chaired the jury, thanked the students for their active participation and praised their engagement and dedication to preserving critical thinking and developing rhetorical skills, which are increasingly neglected due to rapid technological changes nowadays. She pointed out that such CBCG activities aim to encourage young people to continuously expand and apply their knowledge, whereby today's debate topic is significant considering the current digitisation of the financial system.
The winning team, which consisted of students Danijela Medojević, Martina Šćepanović and Jovan Despot, won thanks to their high-quality analysis and rhetorical skills. In contrast, the runner-up team consisting of Dijana Kisić, Lidija Adrović and Lea Barić deserve praise for their ideas and arguments. The participants of today's debate received certificates of appreciation and symbolic cash prizes.
This debate is only one segment of the CBCG's broader commitment to improving financial literacy and raising awareness of key economic issues. Through these activities, CBCG provides young people the opportunity to acquire practical knowledge and develop key skills and contributes to building future leaders able to respond to modern society's challenges. As part of its educational programs, the CBCG invests in continuous efforts to empower young people to think, innovate, and recognise potential in finance and the economy.