Bitcoin Forum

 A cashless policy is an economy that runs operates on zero cash. Not as if there will be no cash in circulation, but it will be done digitally and can be fully traceable.
Now, with countries experiencing inflation, the best way to curb this inflation is by using this method of going cashless as there will be no much paper money in existence.
 But then, when these government bodies introduce these policies, they carefully scrap out the demerits of these proposals if I may call it that, because why worry about these "little disadvantages" when there is a world of good adopting such a policy could do for a country.
 I took out time to do a little research on this cashless economy plan, and found that though there are positives, there are also  some red flags that are worth pointing out.
 
Pros:
1. Reduces crime rates as there is no tangible money to steal.
2. Decrease in money laundering
3. Less time and costs associated with handling, storing and depositing paper money.
4. Easier currency exchange.

Cons:
1. Banks have full control of every single penny you own .
2. Every transaction you make is recorded.
3. Access to your own money can be blocked at the click of a button.
4. The government will decide what you can and cannot purchase
5. If your transaction are deemed in anyway questionable by those who create the questions, your money will be frozen "for your own good".
6. Potential data breach may expose personal information
7. Temptation to overexpand may increase.
 
If the world must go cashless, Bitcoin should be the better option, but as the government will always want to be in charge of your funds, CBDC is always projected by the government. https://www.google.com/url?q=https://www.managementstudyguide.com/cashless-economy-pros-and-cons.htm&sa=U&ved=2ahUKEwjNtYToxIT4AhXMyIUKHdrhC7MQFXoECAUQBg&usg=AOvVaw2132ZR98zH061TKrcKtzvu

The government can't give out what they can't control. This is one reason Bitcoin remains a threat to government policies and regulations If we analyze critically we can come to a conclusion that CEX is not enough to monitor bitcoin transaction as many investors have their coin tied to their keys.

Cashless policy in a completely centralized setting is another form of modern slavery but who can object to the decision of this dictators. in most economy if you complain you die and if you keep mute you still die. It's just best to keep rubbing this on their face till the government find a way to incorporate bitcoin into the economy 

Is "fully traceable" referring to something like blockchain, where transactions are publically viewed, but the identities of people are rarely known? Or that it will be publically known who spends how much on what? Or that it will be known to the government and/or corporations? I think it's the third option, but it still leaves the question of who has access to the data.
I certainly don't like the idea of full control of the banks, frozen assets etc. So no, we should not embrace anything like it. There must be a balance between privacy and fighting crimes, otherwise we end up in a terrible totalitarian state where control is on the level that wasn't possible in totalitarian regimes of the previous centuries.

If almost all citizens of a nation know how to and also use a modern device like phone or PC to access their fiat and CBDC they are having.

Cashless society should embrace, not the government to force people.

New form of crime may surface. Some crime will become old and obsolete while new crimes are arising.

If you go into details about money laundering, reputed people and public figures with legit business can launder. Do not be deceived by this. Also same to terrorism.

They are doing that even already now and country like my country even have monthly international spending limit of $200 for credit cards which means we should not buy anything above $200 with credit card every month.

But most government in the world are embracing bitcoin while many that their central bank hates bitcoin just have implicit ban in a way individuals still use p2p for bitcoin transaction.

I am so glad with the cross border transaction which made easier and less costly.

Yes, modern slavery.

I'm in no way an economic person nor following up on how the cashless policy evolves around the world. But surely that is not how inflation works. You can't merely simply cease inflation by just converting physical money into digital money.

Generally, there is no urger for being cashless, especially in a third-world country where basic needs are still hardly acquired or in some parts of the population is still lacking technological access.

Depends since not all the country is technology ready, there are country still struggle to have decent internet speed also there are others doesn't know much more about this technology so I guess this is only applicable on the country which is advance in new innovative things.

But for 1st world countries they can try to implement this and if they succeed with this which is already happening in some parts of china then provably in upcoming years 3rd world countries could follow this.

If possible or if the government will allow then yes, I would gladly embrace having a cashless policy as it would be much more efficient and convenient on doing transactions on a daily basis. However, it is unlikely to happen as not all people has the technological knowledge as to how cashless transaction happen.

But it might be a huge possibility to happen on the near future as everything will need to advance and that also include on how payment and transaction works whether it will be thru crypto, blockchain or other alternatives.

As of now, I fully enjoy doing cashless transactions with the help of financial application such as bank transaction, Gcash, Paymaya, Paypal and other cashless options available.

The cons outweigh the pro. As we've seen from the Canada truckers situation, even now it's already possible for the government to ruin you financially even when you can still have access to cash you kept on hand. We can just imagine it can get worse in a fully digitized world where we no longer have physical money.

That is why I'm hoping for bitcoin and any similar crypto to become more widespread. Sure you can still get trapped in their system (exchanges, etc) but it would also retain p2p transaction like what we would have done with cash.

That's just a little research he did but true. There is more cons to it and perhaps the government will do it that way after all they own us.

At first I actually doubt that government will have a fair look in developing this sort of technology like the CBDC since its best to just chase what other countries are doing. But after watching what they have been developing like tracking individual's carbon print like what they are talking about in this video (https://www.youtube.com/watch?v=Cx4mG-2Qcqc), it might really be true that they'd be no  freedom to anyone. And It turns out China's CBDC is actually provides more liberty to its people.

So it wouldn't be surprising if people will fight back and will prefer to use cryptocurrency.

I've seen countries with excessive inflation adopting such techniques in order to avoid carrying hundreds of bills just to spend a few dollars worth of items (see Venezuela's case). I've also resorted into not carrying too much cash on me and mostly use my cards (either credit or debit). However, I'm rarely using them for small amounts of a few euros.

Approximately a month ago, I was in Poland for vacation and was dumbfounded seeing smaller vendors owning wireless terminals, accepting payments as small as a few cents, without any issues.

Honestly, I like not having to hold cash for transactions, in Poland, I didn't even spend a single euro which wasn't with card.

Thats contactless card payments, From the diagram below its worldwide.

https://suitsmecard.com/blog/contactless-limits-around-the-world

https://lh3.googleusercontent.com/-HCQNh71RPog/YpOdNc6niYI/AAAAAAAABAk/D7Vxulp4QRwnfaiL7Z3t9U7mojsBI9CawCNcBGAsYHQ/s1600/1653841203503716-0.png

With this form of payment its makes using credit and debit cards very convenient for us
to use but all the transactions can be traced. I see it here all the time, cash is being used less
and less.

So while societies are unknown to themselves adopting a cashless environment the vast majority
dont realise what they are giving up by abandoning cash and less realise the autonomy Bitcoin offers.

That's if you are using cashless bank base transaction. It would definitely be a con.
Looking at options, there are cryptocurrencies now who offes the same thing. They will give you a card or a QR code to transact but it is merchants who will need to deal with.
Most of them doesn't have the options of cryptocurrencies payment and that would need to be discussed.
We are not using fake money. All of them have value but merchants seems to be afraid of volatility even if what they are using is a stable coin.
Thanks to our local  media, the crypto industry is tainted with a different perspective.

I once tried to going cashless, and I managed fairly well for one week, until one of my friend asked me to lend him a little cash.
I only needed to prioritize my purchases to businesses where I can make cashless payment. It felt I was able to manage my money more efficiently, budget better and at the end I felt my spending was less and I was able to save more.

I guess going cashless will benefit not only individuals but enterprises as well in managing and succeeding better in business  as well. Bitcoin economy  seem to be a great avenue in going cashless while staying the real owner of your money.

Cashless is more of the new innovation that has come to financial system and less control and monitoring of what an individual has physically. Cashless in fact made adoption of digital economy easier, that is it has been heard before digital currency and this made way for it and also gave more people the leverage to easily accessible and understand cryptocurrency. Now, talking on the advantages to that, in Nigeria I do believe that going cashless has reduced burglary. Back in the days of going on cash there was high rate of house breaking , burglary because the thieves know that they would meet the victim in cash in the house as it was the tradition to bring huge money to the house. This incidents have reduced in that aspect but of course scammers and robbers are smart people. They have device means to still continue that, when they attack they pick up your ATM card and ask for the code or pin, the rest is history. ;D

While I'm not fond of having my transactions traced, it's pretty much inevitable, thus, I don't actually bother. Nowadays, all our moves can be traced due to digitalisation. Our phones is one of the most traceable tools, which even tracks and keeps a record of your location history. We're not living in the 80s anymore, whether we like it or not, we can't keep everything private anymore.

Quite a strange method to curb inflation, let me point out. For me it sounds like imposing cashless  money under a plausible pretext.
 
Taken as a whole, the downward trend in the use of cash in recent years has been steadily increasing. Therefore, I dare to assume that most likely after some time all countries will one way or another refuse to use them. Perhaps this will happen within 5-10 years, as some forecasts suggest. It seems to me that this is already a clearly visible trend, which can't be avoided for the reasons you indicated (Cons you indicated). These disadvantages are not beneficial to ordinary users, but are very tempting to governments. Therefore, they will promote it and impose it on users, whether they like it or not. But most likely, this will be accepted under the plausible pretexts of caring for their citizens. As usual.

I would say that the first two things that you listed as pros are up for debate. Crime rates may fall because there is no physical money, but more advanced hacks like at an exchange can effect many more people and they have so far not been as secure as banks. Money laundering through Bitcoin has become a big issue and transactions through banks are much more traceable to individual owners, so that is another lie. You say in the cons section that banks have control, but for the average joe on the street to shift to cryptocurrency they are going to stick to exchanges as the most convenient form of centralized funds, so it doesn't really solve that problem. One major con that is often overlooked is how the less fortunate or technologically literate will have a much harder time, the homeless will be left with much less support from cash donations which needs to be addressed.

At first glance it is very interesting what you describe about the cashless method. It's just that this will only prolong your troubles with the government. I'm sure there will be parties from the government who strongly reject this kind of program. Or maybe it won't happen at all.

The problem is, before it can be put forward, how do people deal with instability in their understanding of technology? we live with many generations: conventional old, young fiat lovers, and various types of ownership in the form of physical assets. If suddenly changed to cashless, then the implementation to stay in accordance with the initial value, what will happen?

The first two points in your pro are highly subjective as I do not completely align with you.
Stealing of money can can be easily done electronically than stealing a paper money and same thing can be said about money laundering.
The major pro I expected to see is that cashless policy reduces the cost of printing money. Some countries spend much into to print fiat, that is a problem.

I am a fan of flexibility. There should always be an alternative. If the economy can be mixed, you chose to go cashless or cash. Then, if government wants to encourage cashless policy, they could employ some incentives for people who adopted cashless policy, either in purchase of goods or payment for services.

cashless transaction and policy had already been in use which is achieved with Bitcoin, you can't enjoy the full benefits in cashless policy using fiat because yet you will still be billed on high transaction charges unlike in cryptocurrency, so bitcoin has solution already for challenges in this related aspects and why it is more preferred is because of the increased security control measures in bitcoin and low transaction fees, but any challenges that might be encountered should be from the user end for inadequate information about the whole procedures in bitcoin.

Cashless society is a marketing meme created by payment companies and banks. They are selling some sort of futuristic utopia to the people and telling them "you can be a part of the future today!". But I can guarantee you that in year 3000 people will still use some form of physical money, because physical money has its benefits and nothing will change that. Internet, electricity, all that infrastructure necessary for cashless payments be it banks or Bitcoin - it will never be available everywhere and 100% of the time.

If we embrace a cashless policy, the economic model will be changed, here is the advantage and disadvantage of a cashless economy

The benefits of using a cashless policy

• No forged currency
• Transparent system
• Limited fraud
• Effortless Payment
• Easy International Pay

Read about the explanation here (https://www.aplustopper.com/advantages-and-disadvantages-of-cashless-economy/)


While the disadvantages are:

• Low Literacy Rate
• Chances of corruption
• Economic Disparity
• Cyber Crime
• Overspending
• Identification Fraud

Explanation can be read here (https://www.aplustopper.com/advantages-and-disadvantages-of-cashless-economy/)

No matter what the imperfection of embracing the cashless policy is, I think we should try to embrace what technology brings.  This imperfection can be fixed once the system is implemented.  Human knows how to adjust so basically any problem encountered in embracing this kind of system will be fixed along the way.

I think we really need to implement this because it could lessen the spread of pandemic viruses. Dollar notes and coins has a lot of viruses passed from one hand to another.

I'm afraid this is terribly wrong. There are a number of causes of inflation, but the particular form of money a country adopts is not one of them. I think inflation is not all about which form of money is being used by a country.


But there's still money to steal.


Simply because fiat goes from hard cash to digital cash? I doubt it.


But what particular kind of transaction it is is not. I have heard in my locality that many transactions involving illegal drugs are not anymore done through meetups. The use of digital cash has changed the game. The payment will now be sent through apps. Once payment confirmed, the item/s will be left somewhere.

The point is that while transactions are recorded, it is not known what kind of transactions they are. Payments are monitored, but whether the payment is made for a pair of shoes or a milk shake or a bicycle part or an amount of cocaine is not included in the monitoring.

I'm not too fond of the traceability either, It really comes down to convenience and how
we have been shuffled along to this point of using predominantly cards. For privacy
in the FIAT world, cash is the way to go.

If more and more people realise this they will have greater privacy. Bitcoin obviously has
more benefits when it comes to wealth portability and transferability.

Smartphones for sure can be a concern, thats another discussion

1.Hacking and online crimes are a thing. Offline crimes aren't always about paper money. The criminals could steal items, jewelry, gold, electronics, diamonds, etc.
2.Online money laundering is a thing. Actually, most money laundering schemes are done without paper money.
3.This isn't such a big deal. Do you really think that "handling, storing and depositing paper money" is such a giant burden?
4.This statement is questionable. First, it depends of where you are living. Second, I think that exchanging currencies is very easy right now(at least in my country).
We don't need a cashless society, in order to make currency exchange easier.

That carbon footprint bs is really just an excuse for more control, no wonder "Green" it's starting to get some pushback, because they push for these Big Brother measures. Whether it's China's or someone else, I'm not very positive about CBDCs. They already have an inordinately tight control on our lives, crypto would have been our chance to decouple from them.

I must say, for a numerous time already that this is an idealistic movement. Sure, going cashless can have many advantages. But it has its disadvantages too. And to be able to make it work, there would be many sacrifices that has to be made.

If I may remind you, not everyone is as techy as we are. Inclusivity will definitely be a factor why this won't be possible as of now or any time soon. There are people who aren't able to keep in pace with the fast innovation and technology such as the poor, the marginalized, the indigenous people, and the elders. If we'll keep on pushing this without further checking about it and making plans for them, are we even really advancing?

this is why we can't go full cashless. there will always be a part of the global population that will remain to the traditional method no matter what. sure, we are heading to digital age, but i believe using physical fiat will always be a part of financial transactions across the globe. we can always embrace a cashless policy and we are actually practicing such right now. but as we can observe, at some point, we still need physical fiat tx in some of our daily activities. why not be grateful that in our age, we can enjoy both of these worlds? and just use the method which is more convenient for you in a given situation.

Cashless policy entails the use of online banking systems that facilitates financial transactions without physical cash.One of the benefits of cashless policy is that it saves the government money used for printing and minting fiat. But some of this type of transactions are still regulated by government. But Bitcoin still serves as the best alternate to fiat because it is decentralized. But the major challenges of this cashless transactions mostly in developing nations are illiteracy, epileptic power supply and lack of internet facilities. Majority of inhabitants of these third world nations are uneducated hence they might not understand the online translations which seems more complex. Also, most cashless transactions depends on electricity to charge phones and other devices. And most of this nations lack constant power supply. Internet connections in these nations are lacking. This will no doubt affect cashless policy negatively.  

Money laundering using cashless policy is even more stricter because there is no physical fund to convert to digital equivalent. For one to carry out money laundering there must be a general point where those money exist in the physical forms just like the case of paper money

 
To add to this this will make direct foreign investment easier and swift, limiting the process of currency conversion in the foreign exchange market making payment gateway direct and accessible across boarders except if there are regional restrictions. But one key restriction this will suffer is the inability to use the internet and the CBDC softwares

   In my observation using fiat there's advantage we can use to easily to change if we buy but the disadvantage is easily to still people. But in crypto yes you can transact easily but sad thing is easily to trace your crypto once there's a hacker sourounding us.

I almost raised an eyebrow when I read the first two pros which almost wanted to make me feel like the OP really didn't go deep in his research to have come up with such.
For it's easier to laundry $1million in a cashless means than cash in bags.
These days financial crimes are more electronically than paper means, as fraudsters and hackers can easily do immediate online shopping with any of their victim's account.

I don't believe this one.
Incidents like this https://youtu.be/XI1Z81ADfKE (https://youtu.be/XI1Z81ADfKE) would become rampant. These robbers won't be stealing the amount of money what you have on your pocket/wallet, but with mobile banking, crypto wallet, and other digital currency wallet, it could be accessed forcefully from you and take everything you have. How's that for a cons?

Think of it, robbers before the digital assets could steal your $100 inside your pocket, but they can't touch what's left on your bank.

Comments on Pros

1. The fact that there are no physical cash anymore, will not decrease theft. A criminal will just evolve and steal money digitally.
2. Money laundering are mostly done by large syndicates that has people inside the Banking system...  ::)
3. Yes..... and also less expenses for the government to create the money from Cotton/Silk/Metal like Copper etc.
4. Well, a lot of digital payments are perceived to be instant on the "user" side.

Comments on Cons

1. Banks already have full control over people's wealth. (It's all on their internal database)
2. See above
3. Banks close people's accounts on a push of a button now
4. Do they decide now? No, you can still access your money via the ATM and buy what you want.
5. People use third party wallets & exchanges.. those centralized entities does the same as Banks.
6. Not if you use Mixer services
7. Over spend? Well, I can fire up my Bitcoin wallet now..and go on a spending spree.... how is that different?

We're going up to that point but the last ones are those developing and third world countries. But as much as I can see with most of the countries, there's already a system for each of them with cashless payments.

That's also a good reason for its adoption even though pre-pandemic, there were countries that have done it already. But just for another reason, it's actually on the paper of those countries that wants to lessen the cases and contraction of the virus.

Most crime today is electronic rather than physical in nature. The biggest bank heists were all electronic. Increasing the amount of electronic money in circulation should correlate with elevated crime.

Governments and banks contribute to a significant volume of money laundering in the world. Crime syndicates, drug cartels and terrorist groups usually have connections with big corporations, banks and governments which allow them to launder money. Preventing average consumers from laundering funds won't necessarily do anything to address the issue. As they have never really been targeted for money laundering. Most of the action is with big players in large sums of cash which only institutional upper level establishments deal in.

A cashless society could reduce the number of financial tools, options and opportunities average people have access to. Which would in turn stifle economic growth and innovation. While the digital world has contributed much towards society. Not everything is better when its digitized. There are some cases where written record keeping and a legitimate paper trail are better suited to roles than digital alternatives. Cash and paper money could be one example of this.

As new era comes specially for digitalized age then its no surprise about changes in regarding about enhancing also their way of stealing or robbing other peoples money not only physical but also digital.

Its really that impossible that we do cross out the probabilities which are obviously can really be done if those people do have the chance on doing so, thats why its never been good to be that confident
when it comes to security of your assets whether physical or online that we do have.

Cashless society could be done but we cant really get rid on fiat existence for sure.

Exactly, because it will really help many countries that pandemic has reduced their economy to use cashless policy system to recover all their losses they have experienced during the pandemic season. Those that adopted decentralized currency some years ago in their land, will not find it difficult to make use of cashless policy to improve their businesses and other things in their country. It will reduce inflation in the country and improve deflation which is the heart desires of humanity.

The real reason is that they can attack crypto from this point, and that is why they are doing it. There were no other lanes that they could attack crypto, they couldn't find any other methods so this one is "half" truth and they are going to keep attacking crypto because of this.

Eventually people will realize that this is nothing at all, we just use energy and not cause pollution because the ones that cause pollution and problems in the world and why it is not green is the people who we get this energy from and not us. But until that moment, since they couldn't find anything else to attack to crypto, there will be some who will use this reason.

Government is union who moderate the development and how the country will be run with the capital in their hands, when you says that cashless policy's is a centralized policy, the question is how? Already government is running her nation fiat and is centralized and they are not running with decentralized currency or other digital currency, so no policy of nation will stand strongly with out having something colourful with them either centralized or decentralized. You are getting everything wrongly, no government that operate the system of government dictatorship for this time, when you talk you will live and when you don't talk you will still live. No nation is brutal despite that I have not travel round the world

I don't think turning in to cashless can solve the problems in inflation but as long as you are using a digitalized version of fiats then there are still inflation because their supply are backed by a real fiat. I will only agree on this idea if we are talking about decentralized currencies like bitcoin because they have a fixed supply.

Most of the con's you listed are I think won't matter much to the people that doesn't know about cryptos and only enjoys using fiats. About the pro's some of them are incorrect. Like on the number 1, there might be no physical money to steal but there are many hackers and cybercriminals that doesn't stop only to steal the people's money.

Every policy certainly views the value of the benefits we get, many people are too ambitious to eliminate the cash function even though in fact until now there is no system that can be better than cash, instant transactions without waiting for confirmation and transaction costs, seeing the current conditions of course we still need time to hear the fact.

What people mean here as "cash" is the money you hold in your hand, the banknotes, and not the cards we use. Which means that we already found a better method. I do not see a point in using cash in this day and age, there is no logic behind it and people who are making this banknote to be used are still making some mistakes.

We need to slowly but gradually move towards a nation where we do not have to deal with any of this at all, there is no logic behind it and I personally feel like we are spending resources we shouldn't to print money. All those coins and banknotes uses some sort of material that costs something to the nation, and they are not needed, we could fully be digital.

I like the idea but I am little concerned about the age group which falls above their 50-60’s. These are mostly the generations who has seen their 60-80’s century and they just Love the cash a lot. In my country this group counts in for huge number. I think similar is the case in some part of America. We should not be implementing cashless structure immediately right out because there is sometime for that timeline. Moreover there is also shortage of proper infrastructure throughout the world where digital transactions aren’t possible. Some countries are facing challenges like demonetisation of their currencies and thus cost of maintaining it over digital network is far costly than printing it. If we come out of these problems then yeah, we are good to go for the same.

The abolition of cash is the first step towards creating a digital concentration camp. 

The government and the Central Bank will be able to fully control all cash flows in the economy. 

All expenses and incomes of citizens will be tightly controlled.  In the future, the government will move on to training its citizens and developing conditioned reflexes in them. 

You carry out the "correct" expenses - well done.  You have the opportunity to get more civil rights and freedoms. 

You are making "wrong" spending - your civil liberties will be curtailed, up to a complete ban on managing your own money.

I think a cashless society has a lot of benefits, it makes paying for things much easier and faster. We don't have long queues anymore in the supermarket where people are counting coins or wait for the vendor to change large denominated bills. Our wallets will be much lighter, we could even go so far and remove all the credit cards and only use our mobile phones to pay. As long as everybody has a phone and Internet access than the new payment methods work for everybody. There are also some drawbacks, what if our cell phone breaks down or there is a Internet outage? In remote places cash is still king. Also the elderly generations will struggle in a cashless society. My grandma never pays with card and doesn't even have cell phone. I think cash will lose it's dominate role over time but never disappear fully.

Blockchain is not really used in many nations, but a "cashless society" is not really a dream. I mean we are living in a world where we pay with our cards everywhere we go, I pay such a huge credit card debt every single month that I turn crazy sometimes when I see it, however I was the one that made it :D.

Thankfully I have no debt right now, because I pay it in full each month, but I dream that I find enough money somewhere without a plan, like I wake up and find an old wallet type of deal, just enough to pay the credit card, then all of my salary is mine :D That would be sweet. Hence, what I was trying to say was the fact that we already do not use cash that much anyway.

If the cashless policy could make all the transactions lighter and better then it would be better to embrace it. Though there are lots of cons, I don't think we should fear them and focus on the digital innovations that could change even the economic situation of each country. However, people especially from third world countries still need enough education about how it works. There are still people who aren't equipped or even have internet access in their locations.

Going cashless just increases the tendency and ease of increasing the money supply so IMO the banks will aim for CBDC's to replace cash. Given all banking is virtual now, it doesn't take any effort to inject people's accounts with currency if the entirety of someone's net worth is represented by pixels on a screen. Bitcoin acts in a similar fashion, but obviously there isn't a way to create coins outside of the ones that already exist.

Inflation doesn't factor too much into this, though. People have dumped cash on their own for the sake of convenience. Switching people from USD into a dollar based CBDC's is probably the next move which would eliminate paper cash in its entirety.

Why not? Embracing a cashless society isnt really that a bad idea but of course there would be lots of things needed up to be arranged first before these things to be fully implemented but
we do still have those doubts considering that government wouldnt really just simply let cryptocurrency would take place.If ever we do make out that kind of change
then citizens would really be just simply adapting on whats there but for now everything would be still lit but there are possibilities.

Yes that is what cashless transactions do, making the transactions easier. It is a must to be adopted. There are cons but I think it wasn't that much but we should not focus on it, instead focus on the pro's only. I am not really sure if being cashless can help the economy of a country because it doesn't solve much problem.

Higher education isn't necessarily needed to learn this but a basic knowledge and a common sense is enough. This isn't totally hard though and they still continue to make things more approachable to the public but an internet connection is surely needed and one of the basic requirements to in order to get started.

I beg to differ. Yes, cashless transactions have their advantages, but it has its disadvantages too and we should take into account both of it. Not the positive side only, but both sides of the coin. Having a strong internet connection isn't only the requirement of going cashless. But also having a suitable device and of course, knowledge on how to navigate the app or platform.

Being aware of how to use cashless methods is a must. However, not everyone has the mental capacity to grasp the idea of going cashless. We have elders who aren't much knowledgeable about technology as well as youngsters who don't know much. In addition, we have many people beyond the poverty line as well who cannot afford to buy gadgets and avail internet connection or even prepaid plan.

You see, these factors contribute a lot as to why we aren't fully transitioning to cashless policy just yet. And it should be take into consideration until the time we are fully prepared and ready for it.

I am not entirely sure, should we just ignore the better method just because there are places that do not have internet connection? I mean I get it, you can't get it clearly in some African and Asian nations, even in some urban places of the USA as well, or elevators, or some places do not get clean signals and all of that. In that case having some sort of cash would be a great deal.

But, should be just ignore the greatness of a cashless society just because there are some internet connection problems of 5% of the world, when the other 95% would benefit from it? Why not just try to improve the internet services and provide it to everyone by investing into that?

Cashless policy can be easily practiced in some advanced countries like America,some parts of Europe, China etc but the basic challenge with some 3rd world country are literacy issue and poor network in this will not make it easy for transactions to be carried out...

You're right to an extent but the cash era got to be minimize to a certain level where the risk it will impose will be reduced to the bearest level, you can agree with me that dealing with bulk currency in cash is no more safe by all means considering the bulkiness and the risk to being hijacked and carted away, at this current economy we all enjoy the full benefits of cashless policy in making an itch transaction or payments, consider paying workers salaries in cash with helping the poor in the remote areas with some cash, you could see obviously that one is far better than the other, how do you initiate a cashless policy to be effective in a local area under developed, impossible but we can enjoy the beauty in the advance economy system of the digital era in making payments at the best of ease.

Without a policy, of course it is very difficult to develop cryptocurrencies, actually the state gets a profit if citizens use digital money because it is easier to control, besides that if there is an inflation problem it will be easy to determine the best decisions such as cutting the value of money so that the value of money defensively.

Infrastructure is always a problem! I am for crypto policy, blockchain, and ledger that can't be changed "just because someone thinks it will be good for all of us"... while opposing money flow control and filling rich people's pockets! We need transparency! When institutions open their books and when we can see what they are doing with our money in real-time we can speak about a better future for all of us! I believe that ordinary people should be able to have privacy and anonymity, but how governments are spending money that should be used for the benefit of all of us should be fully transparent! Only that can lower corruption! That is real cancer in almost 90% of countries around the world!

To pursue a cashless policy there are necessary things needed such as electricity and internet connection as well as gadgets which is a struggle for people living in 3rd world countries. No matter how we push it, if some people aren't capable no matter how we educate them, there will still be conflicts in the end. I guess some countries should have to solve some issues first to make this policy possible.

Maybe you will be surprised, even the third world countries now has high percentage of owning smartphones according to this [irl=https://www.pewresearch.org/global/2019/02/05/in-emerging-economies-smartphone-adoption-has-grown-more-quickly-among-younger-generations/] article [/url]. The article was 2019, so high likely, the figures are already improved this year, remember during the pandemic, people are communicating mostly over the internet.

We are somehow using cashless methods in our everyday transaction, however, we can't totally eradicate the physical cash as there are some services which are not practical to use the cashless method, like small retailer shops. But some of them are already adopting as there are financial apps now that you can easily send your payment to. We don't need to aim for 100% but we are heading to patronize cashless payment already, even the third world countries.

Cashless is a dream for satoshi, that's why bitcoin was made for that one of the reasons too and for sure incoming years we can experience that with full adoption. But for now, we have lots of work to do to have full worldwide implementations though some countries already had a cashless payment system hence majority of people has smartphone to make those online transactions. Even third world counties were now using cashless payments.

While there are some valid points to this, I would argue on some points.

1) Petty crimes would cease to exist, but only the ones associated with direct money stealing, but the overall possibility of bigger digital crimes would increase as well as bank manipulation and corruption.

2) Money laundering does not only occur with physical money, that's why offshore banks with no control over them are a popular destination for anyone who wants to muddy their traces (what money laundering essentially is)

3) depositing and storing paper money is on such a small scale that it's really not worth mentioning. We all know that banks do not have the physical money for all their customers.

Even if cashless policy or society is feasible, other countries have no capability to impose it. We all know that there are some countries that technology is not that advanced yet compare to countries like Korea or Japan who already practices digital payments in their daily life. A cashless society will also be a disadvantage to the government as themselves won't be able to do their corrupted intentions because everything will be recorded on a blockchain.

That's right but 1st world country could test this out to see if this is truly effective to their citizens to live a comfortable life away from those papers which we carry if we go out buying something. China already do this and I think they are totally fine with Cashless settings but we need other country adopt this because one data is maybe not enough for other country to execute this new innovative tech on their country.

Minimize is a better solution for sure, I agree with this. I mean aren't there already to a point? Think about it, between the online payments, card payments and even cheque which is a bit more older style but still works in huge business deals, wiring money and even cryptocurrency. When are we really paying anything in cash? Not saying that we never do, we still do, but I spend maybe like 5% of my salary in cash form, rest of it goes to regular stuff that are taxed.

This is why I believe that we shouldn't really consider the current situation as a cash society, we are already at the bare minimum of using cash, and would probably even drop that further down the road.

First world countries have developed a framework that has got linked with each and everything. Cashless system is encouraged around the world and this is a way to have control and keep track of users financial data. This ease the taxation process. Anyhow the future is going to be completely cashless and now itself we need to be prepared for the same.

Already we're into the same getting used to the payment applications, credit cards, debit cards and other transaction support services. Nowadays every bank have got its application and usage of those applications are encouraged than visiting the bank for the needs.

I think as long as people have trading culture like in East, cashless policy would not be possible. Generations and centuries has passed, and people still prefer hand to hand payment or exchange. Subconsciously people prefer to hold something in hand when making payments. And the more you hold, the better you feel. Bank card or a device can not replace the feeling of wad of money. Cashless methods are still to much dependable from third party. Any problem on "their side" affect you, with cash you dont depend from anyone.

Yes, such a culture can't be eliminated, but that doesn't mean you can't apply the cashless method.
especially with the continued development of technology, people will think about using it later.
Currently in my country, there are many who use the cashless method and that is certainly a good innovation

Yes, cashless is already been adopted by many. Smartphone serves as wallet are mostly use to transact not only with online but also

to a real time payment process, there are fiat base system where you can pay your bills using your device, and with that there are

more platforms who are trying to offer this kind of system, it's been use by most during the pandemic and was adopted till now.

More people are ready to deal with this process and they are willing to adopt and use it.

Such culture does not apply to me either, but I can not turn completely cashless. Even if I dont want to, I still have to do cash trades. Right now it is a high season for fruits, berries and vegetables. I prefer to get them from the market, from farmers, rather then from retailers at shops.

The problem is in people with low income and low salaries. They cant survive without selling p2p goods. That can be done only with cash. If it would be possible to pay them decent salary or receive adequate pension, they would not have to do this humiliating trading with what they have just to make ends meet.

Being cashless might be one of the reasons why we have btc but I just think the main reason is to be free from control because bitcoins are decentralized and anonymous. To have a full adoption means all people are now doing it but I don't think it is possible because there are people who don't have the ability to do it. Most of the population can go cashless but some of them must be free to remain on using a cash.

It's a lot of work if you are to encourage everyone to go cashless but luckily there are some that just learn it all by themselves. Before we only have atm's but we never thought that the creation of smartphone will make it more possible for the people to turn into cashless.

Why do we have ambitions to eliminate cash, can everyone use digital money? In developed countries it may be easy to implement, but in developing countries it is still difficult to eliminate cash because of many considerations.

A cashless society may seem like a good idea, however around the world there are billions of people without enough to eat and without running water or electricity, so we cannot really impose such a system to them.

Now there are countries that are incredibly rich and which could afford something like that, however if the only option available for us is fiat then I would still be against it, as governments then will know everything you buy with your money and even go further than that and even forbid you from buying what you want.

We've been on an era on where credit/debit cards had already been existing which means that we've been dealing on it but we know that not all does have the privileged on owning one thats why there's always a

division in between those card users and fiat or paper money which is something  that cant really be removed easily because not all would be preferring this kind of  system.

Would still takes time if everything would be implemented to be digital or having no fiat money yet adjustments would be made but this wont really be that simple or easy to be implemented.

cashless has its pros and cons, but the main goal of being cashless is to be tracked...

currently there are two government financial options one is cashless and the second is CBDC. I see both are the same but CBDC is claimed to be more traceable because it uses blockchain technology. I still support the government setting rules for cryptocurrencies rather than using cashless or CBDC.

If we are taking about a fully cashless society meaning the government is getting rid of all paper notes and coins, I think that is problematic. However I do think this would push people in that situation to using bitcoin much more often. China is a perfect example of this and why it’s bad. They are slowly introducing the digital yuan which is going to allow them to be able to fully monitor all money situations their citizens get in to. Even if you do nothing wrong, it’s still goes against a basic right of a level of privacy.

The state and people also need cash, just like non-cash money. Their volumes and ratio may change, but it is unlikely that states will be able to completely do without cash. This is especially true for underdeveloped countries, where it will be impossible to implement technically. In big cities, this is still possible, but in rural areas, in the outback, the transition to a completely cashless payment is simply impossible.
In addition, not everything is so rosy with our increase in wealth in most countries. Either cataclysms, then pandemics, then wars, as now in Ukraine, and countries again suffer material ruin, in which the transition to cashless payments is very problematic. And many groups of the population in different countries will not agree or, for some reason, will not be able to switch exclusively to cashless payments. This means that they will return to barter transactions, and this will undermine the country's economy. No, all types of financial calculations should exist and people should choose which type is more convenient for them to use in each specific case.

Not everyone is scared to be tracked when making payments. Such pros does not apply to everyone. I even think that the majority of people dont care that much about their transactions being tracked. We need untraceable transactions when we make huge payments and want to economize on the tax. Do you often make such payments? How often do you buy car or expensive electric appliances? I guess maybe once in several years. I think you wont bother much when you will try to buy a cup of coffee and try to make that payment untraceable.

Talking about cashless definitely has a positive side and a downside it's normal,
but if it is used to track and monitor their financial activities I don't think this can be allowed because after all it relates to everyone's right to privacy,
I don't know what the purpose of China is to do that to its citizens

There's no privacy if we do get involved with any centralized transactions even if we do talk about cashless transaction where everything could be seen and traced and possibly of reversed transactions.

We've been dealing on it for several years now and it did just happen that decentralized things had been created and molded which it do really adds up the more options that we could
make use off.
Being cashless would be good but there would be people whom  do stick into those traditional ways on making transactions through fiat and thats the reality.

And it is because of this I am against such a cashless society, governments will know everything you do as the temptation to monitor everything their citizens are doing with their money will be too high.

This also means that anything that it is legal but that could be shameful to you can be used against you at some point in the future, and governments could go a step further and forbid you to buy something with the excuse that it is for your own good, destroying our privacy and freedom of choice in the process.

I don't want anyone to control my money. Hackers can break into the system and steal data about any wallet and this is not good. I can forget the password, I can block the card and then I will be left without money? I don't like this option. I love having cash, they rustle nicely in the hand. With electronic money you will not hear this wonderful sound ;D

When we are talking about cashless economy that has full control over personal finances without the interference of the government or a third party agent then we have to talk about bitcoin in cryptocurrency, this is where only this can be ascertained, of course any fiat cashless or digital transactions can be traced and user's can be apprehended since they are no difference to fiat note that can be affected through inflation and bad economic influence in depreciating its value.

One of the reasons most nations of the world look towards cashless policy like it was some sort of Asylum is because of the cost in producing paper money and also, the cost it would take them to properly destroy the paper money when it is considered too old and no longer fit for circulation.
The government has left us to think that, these money would go right back into the economy but I am thinking right now that, the situation is going to remain unchanged. The issue most nations phase isn't because, the resources aren't enough nor do they generate very little to tackle for the chlenges of there country but, its basically corruption within the government.
If they could tackle the corruption within the government, the economy would surely grow.

If we really embrace cashless policy, there wil be an Economic Disparity. If the standard payment technique gets changed into the cashless system completely, the chances are that purchasing smartphones or devices for example will become necessary. In a country like India, where many citizens endeavor to provide for their daily food and necessities, purchasing a smartphone is most definitely a luxury these poor sections cannot afford. If cashless acquisition becomes the standard rule, then inequality can be seen in society because not everyone can afford it.

Maybe in a coming day and in near future we will adapt that in our region.
But yes - the point you have mentioned that that for the poor people it is difficult to buy a smart phone. That is the issue. And on the other hand illiteracy is also a serious issue.

I am not entirely sure about this, it's the homeless and the poverty that may have this issue, like I mean the guys that look in the garbage to find something to eat, and it should be the responsibility of the government and the states to find those people and give them a place to stay and live without worrying about anything, it's inhumane to let them be like that.

Outside of that, even the poorest person who lives, or has a job, or even unemployed but at least has a shelter, it is harder for them to not have a smartphone, you would literally miss out on things that you can make money from. Who would hire someone without a smartphone? That would be quite difficult.

In Venezuela, most transactions there are cashless. We know what their fiat's status is and it's not really good to bring all of those millions of cash just to buy a cup of coffee and in that case, it's best to transact digitally.

But the twist is that most of the stores and even the customers have their transactions running through an offshore bank account likely an US account.

So the transaction goes directly there and from the owner to the store between the customer's bank transfer from each of them. They do it with an app that's helping them save from bringing tons of cash.

The poverty level around the world is going to limit the rate at which the governments can force us to go cashless, however it would not surprise me if in the future governments enacted a policy which disallowed us to convert our digital money that we have in bank accounts to cash, that way they can get the best possible scenario in which those that earn a lot of money cannot convert that money to cash, so you are trapped in using their useless fiat whether you like it or not.

I see your point. If the time comes when cashless policy truly embraced and the government enacted to hold or disabled convertion of our digital money to cash, surely it's a chaos! They will use this policy against us to follow them whether we like it or not.

Depending where you live it's hard to imagine someone could live without a smartphone and internet connection nowadays, but it's still the reality of some regions in the world. I know people who are active negotiators and deal with goods and paper money all day long, but have no idea of how to use a smartphone or any device of this kind, sometimes because they have low financial standards, and on another cases it's a cultural matter, especially among elders. Definitely, these people couldn't be integrated to a cashless society, so governments aren't going to apply this measure soon. Maybe for the future generations it will possible.

But for the world to go cashless. This is hardest thing. I am not sure how it would happen, but here in our region most of the people don't have smartphones.
The internet connection and the literacy are the main problem.

I think this cashless policy has already been practiced in most countries as we have seen that we are now more dependent on our credit and debit cards for payment, and we even have local exchanges that we can pay directly from it. So it may only take few years from now before we can finally say that cashless policy in all parts of the world is already good to practice. Although physical fiat is still mostly preferred by most of the individuals, but practicing cashless transactions is also seen more fast and more convenient.

All things we have to do to increase the number of cryptocurrencies users, if the number of users is increasing and dominant then the government will follow the rules that already apply in cryptocurrencies, so our main focus right now is to continue to invite friends or family to use cryptocurrencies.

I am not against cashless policy should be the government enacted it, infact it is very advantageous nowadays where millennials already aware of digital currencies. But there are several points that the government should address first if this policy should be enacted in the coming years like illiteracy, poverty, jobless etc., these are the major factors where some countries commonly have. I guess we still need paper money for now then educate people for awareness and slowly adopt digital or cashless transaction where most of us already practiced.

Good if it happens - But there are so many issues - particularly in the 3rd world countries.
Where people are still deprived of smartphone and 3G internet connection and most important of all is literacy.

There's no problem in increasing the number of crypto users/investors or what do you prefer to call us. The problem with what you're thinking is about investors that don't have idea what they're getting up to. That's how many folks have been devastated due to their poor investing decision making. It's not about only crypto if we talk about cashless but there goes the government transactions that can be done through third party that they allow to operate.

cashless which refers to cryptocurrencies is still long to be realized, until now there has been no developed country that can provide examples of the use of cryptocurrencies, many interbank transactions currently occur without cash, and that does not mean having to use cryptocurrencies. I hope that crypto can be accepted by the government because of its basic advantages, so that it provides a real function that is currently only an investment tool

The problem with going cashless is that not many people will be able to embrace it. in the advanced countries this may not be such a big deal as nearly everyone is already familiar with all sort of technology and buying online in a cashless manner. in the developing countries with high number of uneducated people, this can be a very big issue, it will require teaching almost everyone on how to operate an internet enabled device and own one as well.
Going completely cashless will pose a lot of challenges to many people which i doubt the governments are ready to subject its citizens to. So this is not advisable best thing for now is operate in both ways 

The first impression I got after reading OP is this. EU and USA are not the whole worlds. There is a vast area of land in Asia, and Africa where people don't have an internet connection and are out of the digital landscape we live on. Paper cash is still the only way of the economy there so if mass adoption of cashless policy has to be taken then there should be some measures taken for those people.

On the other hand in many urban areas internet connections is not that strong and secure. A cashless economy means no paper cash. So any disruption in internet connection would cause major damage to the economy.

Inequality is always the thing to be considered despite all the benefits when moving from a cash to a cashless society. From all I know, old people hurt most since some of them also didn't know much about smartphones to use it as e-wallet. Wireless or broadband internet connection like you mentioned also a problem since if we can't access to it, we will be stranded from the grid with no alternative?

Now we are talking about the transition to cashless payments in developed countries. In the last 5 years, I have noticed how much the attitude towards cashless payments has changed. 80% of all customers pay by card. I myself prefer paper money, in this regard I am conservative.

Switching to the cashless policy - - it is easy for the modern world but what about the countries where smart phone is not common. where there is high literacy rate and where there is problem of 3G and 4G, in recent years it is not possible though

Well, the moment of truth is that people will possibly embrace that particular situation but what makes them stop is the capability of their country and of the individuals. Besides, this is not hard to learn and I know everyone can do it but unfortunately, they are in such desperation due to the lack of support from the government and materials to run the system which gives courage as well.

Yet, I won't disclose the chance to be in the adaption as I literally will come but it takes longer, many years to come before it was realized.

That is correct and it would be needing translation in the regional and the local languages as well.
Also - it is not possible in the near future because it needs smart phone, internet connection and obviously people who are educated enough to understand the procedure.

I think the thing that can make Cryptocurrencies users not afraid of investment is a clear policy, in my opinion without a clear policy will make users always worried and confused, especially the latest cases namely Luna, this can happen and repeat without being able to be controlled.

So don't invest in stablecoin peg by the vague value of alts, easy. A cashless policy doesn't mean you have to use crypto or stable coin in the crypto network. A digital dollar with the real backing from the US banks is the best thing that could possibly.

Agreed. Even the first world countries there are still a lot of people who aren't tech savvy to understand the complexity of a cashless transactions.
How much more on the 3rd world countries. Both would co-exist and as time passes by cashless transactions might become the most preferred one than paying on cash, but cash won't just disappear, both would still co-exist.

We are already practicing the cashless payment in some points of our daily life.
Like paying an online merchant or other online purchases.
However, it is true, not all people are amenable to this kind of payment method even in first world countries.
I think, cash payment will remain, though digital payments may increase a lot in the coming years.
Let us embrace both methods, anyway, we have daily purchases that do really need physical cash, whether you are in 1st world or 3rd world country.

When you say cashless, it's not just all about cryptocurrencies. There goes the other payment methods like Wechat Pay, Alipay and these are just an example of it and originated from China. If in US, there goes the Apple Pay, credit cards and many others.
And about the usage of crypto, there's no need for any country to introduce its usage, we as a community already know and have been doing purchase of things and services with crypto since years ago.

Indeed, some people are doing this for many years already but it is never enough to enlighten others to adapt to the system knowing that they don't have the capacity to do it. In any form of cashless payment, nothing has been largely compared to fiat money which means that the majority are still reliant to paper money for their convenience and are most likely don't have a reason to stop using it. The word convenience makes people to choose what they want and a particular method of payment.

Cant really be denied or couldnt agree more with that word "comfortable" on which people would normally be sticking on ways or methods on which they do find out that they would really be making out ease of transactions and even online or cashless transactions might sound great but there are key areas which fiat is really superior and does give out ultimate convenience which do most people prefer on.
Lets just accept the reality that it is really hard to believe that cash/fiat would be gone forever and would totally switch up to cashless transactions whether e-fiat or crypto.They would both co-exist
because the differences and applications are really that subjective depending on case to case situation.

I think the irreversible process of switching to non-cash payments has been going on for a long time. All governments, with the help of the banking system, are very strongly promoting this form of payment, of course, they primarily pursue the goal of controlling the financial condition of their citizens. But it is very difficult to draw the attention of the government to the possibilities of cryptocurrency in non-cash payments. But the main role in this will be played by startups that will introduce blockchain into the banking sector, such as Africunia. Therefore, everything is still ahead.

I would say that translation would be easy step, that shouldn't really be a problem because they will handle it and it would be done within a few days, quite easy step. However, the fact that smart phones can't be used by many elderlies is still a problem, and I am not sure that we would be able to neither, like when we reach 80+ would we be able to, even though we grew up with smart phones?

I think there needs to be a back up, because if all else fails, cash is till there and we are doing that anyway. All in all, the only thing you would save in this situation would be trees, because they wouldn't be used to make paper money, aside from that most other things would be the same.

Do you think a lot of trees will be saved if we stop using paper money? Taking into consideration, that new money are not printed every day. And compare it to an amount of useless data printed on regular A4 paper daily.

I have tried many times to stop using cash, but over and over again I have returned to using coins. There are so many businesses around the world that require coins, that makes me think we will never start living cashless. There are so many units that accept coins, that it will cost enormous amounts to convert unit payment system to cards.

Cashless policy promotion has really been long promoted by the government and other businesses and establishments. It's encouraged to transition in cashless policy because of its convenience and ease of using. The accessibility of digital banking and wallets make it easier for people to make transactions in a snap.

Slowly, it is evident that we are adapting to the dynamic changes which is for the better. Because we also have to keep in par with other countries that offer such. However, the elders and the less privileged ones should be taken into consideration. We can't just hastily transition in cashless payment. Instead we can transition little by little and also retain the traditional payment method for those who aren't able to use and keep pace with digital method of transacting.

I'd thought about it as well that will it be that convenient for everyone to go cashless same time since the development is not everywhere, the only countries to benefit that most are the developed ones, but we can't overlooked their relevances both in the role they play for the payment of goods and services in the world economical system, come to think of it this wat that bulkiness in cash is no more necessary in making payments while there are instances whereby cash is more needed because of the conditions surrounding it, the two need to be in use and i think bitcoin itself have solve alots of potential potholes in fiat cashless policy and regulations around it, no limitations in bitcoin transactions unlike in fiat.

First of all I think if we do indeed make the transition to a 'cashless society' certain safeguards for privacy will be put in place. But indeed it would be a real hit to privacy. Unless they come up with a really smart system that encrypts data and only a part of the data is publicly available while the rest needs let's say the private key of the individual, but that becomes complicated if authorities need to investigate a criminal case.

I'm sure CBDCs are not going to be the single asset in existence so bartering would still be available.

A decentralized currency like Bitcoin would be the way to go. I would go even further and say that a mix between a stablecoin (maybe backed by Bitcoin) would be the best way for our global financial system.

the thing that will make filter currency uses not to be afraid of investment is the understanding and the past knowledge of cryptocurrency falling and The rising, because is known that anyone who knows or who invested cryptocurrency before can not be afraid of cryptocurrency because it has experienced bad market of cryptocurrency so whatever that is happening now is just a repeatition of cryptocurrency market

It's way too early so think about a cashless policy and a cashless society. Bitcoin barely reached 10% of the total population or something similar so there is still plenty of road to go and plenty of time to let Bitcoin and cryptocurrencies evolve by themselves.

Yes,  I would embrace a cashless policy but not now and not in the next years. I do think a cashless policy should be available when cryptos will be fully regulated and will have more laws based on it. For now , we should be happy with what we have.

He just said it that not all are able to adopt it due to some reasons like lack of knowledge or budget to have a device that supports the technology but obviously it is convenient for those who always seeks for it since they don't have any of those problems that I mentioned earlier except maybe if the person that they are trying to send cashless payments are from those unsupported areas, you know there are areas where no signal, electricity, internet but I believe that they won't be like that forever as I already saw some far areas which are improving.

Soon almost all people are now going to enjoy the benefits of these new technologies that we are seeing today.

Honestly in my nation we are talking about 80+ year old people getting their pension money to their bank accounts and they are capable of withdrawing that with their cards if they want to. Maybe they would have a trouble paying their bills via their app, but they could definitely go to any place and pay with their card.

Nowadays we have cards that you do not even have to use pin for, just touches the machine and it pays automatically, so it's really easy for them. I have to say that the best thing to do right now would be not doing something for the elderly, we will be 80+ year old eventually as well, will we not be able to? We can, so do not lose hope for the current elderly neither.

On the era and technology that we do have today then it is really a big convenience on which you could able to pay something without the hassle on making or lining on long piles of people before you could able to

pay for something but instead you could pay by your card and on times you are on a restaurant or something you purchased then just like what you said where you could just easily swipe it out then your done.

Its really a great convenience but it cant really be denied that fiat would still play some role in our society or in overall.Despite of the cashless transactions we do have but there are some
certain key areas on which making use of fiat is much more convenient and come to mind off that not all would really be that knowledgeable on online
transactions which it is really just right to have that alternative.

it will take long long time.. especially the third world countries. .  where the local transportation is Tuk Tuk and Rickshaw and the local hackers do not have have a smart phone. Illiteracy is the main problem and hindrance in making this cashless policy a reality.

Technologies are developing so fast, that when current generation that is used to pay just by touching payment terminal with card turn 80+, there will be new and more convenient way to make a payment. And we, wireless payment users, will be considered as old fashioned. But until we have good and services that cost tiny price and shady business, we wont switch to cashless policy.

At this very moment or in our generation I think cashless policy might be good and also not good as well. Because, there are some traditional business that has been arise all over the world now are more on favor at fiat money though, there are some merchants or business are accepting cashless payment like credit card, paypal, and more something like that.

In other words, nowadays, fiat currency still important in any aspects of the business we had in the whole world now. So for me, it is not the right time I think though we are going there in the near future.

Easy for the developed country - where everyone person has a smart phone and 4G or 5G and people are literate how to deal with cashless transactions.
But not an achievable goal for the third world counties - in particular South Asian countries where poverty is high and literacy is low.

In recent decades, our world has been moving very rapidly towards non-cash and digital money. For a certain part of the population, these are very convenient forms of payment. But not for everyone. Some residents of almost all countries will not be able or will not want to part with cash and will rather go for barter transactions than non-cash ones. This is also understood by governments. At the same time, the rapid turnover of cash is important for the economy of each state. Even in China, they urged not to get carried away with completely non-cash money and not to give up cash. And you need to remember that cash is one of the most untraceable. Therefore, we should not quickly go into the trap of governments.

We've been already dealing with cashless transactions which we do know that credit/debit cards had been already invented or already available for us people who could make use on different transactions

which it indeed really bring out that convenience that we do really need on day to day living specially into those someone who do make out active transactions which these changes made out some relevant effects in overall.Why we cant embrace cashless society? If this would be applied in overall then its not a bad idea but we cant really just deny on how relevant fiat notes or paper money in day to day
basis on some aspect? We cant just do online transfers or transactions from time to time and also not all would really be that literate on doing stuffs like that thats why
we do see that such full integration or application cant really be just possible.

Physical cash is indeed the untraceable when you are holding it and not to store in inside the bank, and that something people

who loves owning and using physical money / fiat money continue to enjoy, while in the sense of cashless, there are new generation

people who embracing the system and loving how the convenient that this process provides.

First of all inflation does not decrease or gets controlled in the cashless economy infact it is increased. Cashless economy fosters usage of credit cards etc. And credit cards means that everyone is creating credit in the economy thereby increasing money flow in the economy. Only an economy working on an altogether separate currency which is modelled to be deflationary can be helpful in this scenario just stopping usage of cash can't help. But the biggest issue with the cashless economy that I have as you mentioned is Government can stop you from using the money just by click of one button. This is too big of a power given to any state.

A cashless policy is a good thing to stop money laundering and crime but it's a double edged sword.

The problem is that the info can also be used to track your every purchase incl. time and location.
With AI/ML you can probably profile a lot of things which should be left alone.

Well the advantage I see of all this is that electronic payments over fiat is that those who have to pay with large sums of money do not need to transport it in suitcases or similar things, they would not be exposed to possible theft, However, it is likely that for people such as older adults, they do not like digital or electronic payment, I think that this would be a population that could have a hard time adapting, also for other people who prefer cash and are radical in that, you also have to protect yourself, that is In other words, in a possible world chaos that there is no electricity service or internet service, some type of support for payments of this style would have to be activated, perhaps the devices should have solar panels to receive payments and not depend on electricity, and that the internet activates a direct service through satellite.

Local hackers but don't have a smart phone? I think that's too much for that description, most hackers that we usually know are in depth of knowledge with modern technology.
Well, maybe it's a real thing that they don't have a smartphone and only got PC on use. But I'm thinking of the reality that today, it's likely that smartphones are already a necessity.

Has anyone got a chance to watch snowden - the more the people are into spying agencies - the more they run away from these smart gadgets, and keep changing them time to time. If we are having a clear background we must not be scared of anything.However those who do wrong - keep hiding and avoiding things.

Well, that's kinda true though. However, not everyone in the developed countries are tech savvy and knows how to deal with digital finance transactions. But for the most part in the southeast Asia, imposing the cashless society is close to impossible due a lot of factors and I honestly don't believe it would happen.
I'm not sure but I guess there were at least 30% of the population in my region who do not know how ATM machine works.

Cash is still a necessity, which would be difficult in a cashless world. In my family, grandparents are quite old, using the phone and internet has become very difficult for them, so they still choose to use the old methods for daily living. And not only in my family, there are a lot of older people like my grandparents who won't be able to keep up with technology trends they still need but traditional means to serve their daily life.

China crushes mass protest by bank depositors demanding their life savings back (https://bitcointalk.org/index.php?topic=5405938.0) <-- this can be one of the cases why cashless policy impossible. What will you do if all your funds are in different banks, all your cards stop being accepted, and cryptocurrency is prohibited or you cant make instant crypto>fiat exchange. Yesterday you had money, but today all of a sudden you have nothing. Another proof of not keeping all eggs in one basket. Cashless policy can limit your financial opportunities.

That issue was not new. Banks can sometimes suck, that is why bitcoin and other cryptos are invented so that people can avoid problems like that because cryptos are not bank dependent but if cryptos are also banned on your country then I don't know if what are the available solutions left.

You are right, maybe a cashless policy is not totally possible to some of us but it's always better to have a physical cash on hand just in case there are unexpected problems that can occur. There are lots of them not only bank issues and crypto banning, but electricity and internet can also become unavailable sometimes due to the natural disasters.

This news is not surprising. I won't touch on China's domestic politics - that's their business. But if we talk about the Chinese economy, then this is perhaps the biggest bubble of the last century! Global stagnation is destroying China's overheated but heavily dependent on buyers economy. Inside China, there are many economic problems that they hide in every possible way. But given the situation in the world, it will end sooner or later. And then we will see and hear how the biggest bubble bursts!
The fact that people cannot get their money, in one of the richest countries, with one of the key economies in the world, is a very bad bell!

I think there is no real problem embracing a cashless policy as it brings more convenience and fast, and efficient transactions. But the only problem is, the government is not ready for it. The majority still prefer the traditional payment system, particularly for those old and uneducated people as they find it hard to cope up with the changes. I think the best thing to do is to offer both cashless and traditional payment system, and its up to the people what to choose for their own convenience.

From my opinion, if I'm a president i think i will adopt cashless policy in my country,  because with the cashless system of getting or trading in the country, it will limit the level and situation of crime this time. Because when looking at it very well it seems that buying and selling of things now it's likely going viral with the system of digital system of money without physical Cash and without buying any items with fiat currency. So if i were a leader in government i would have legalized it and make it to be culture

Good luck on next elections with such decisions :)

If you claim a cashless politics in your country, then how you plan to control it? Anyone seen with cash on the street will be put in jail or fines ? People must decide if they want cashless policy, not a president. If a president claims such things, then everyone will be afraid to be under control, under surveillance. This will only trigger more cash or shady deals.

It was just for you mate, but you can direct others and tell you your plan or even they will follow your desires as certainly they have a different plan and opinion in regards to cashless mode of payment. Embracing this policy needs support from the community as well and much more from those who will accept and impose such rules. I can't say but likely, not all are in favor of that.

And besides, this was not the solution to crime rates, this will even help to increase it. We can embrace but not a MUST.

1. Money theft can take place virtually as well as in real life. Electronic money thefts happen even before the emergence of cryptocurrencies.
2. This is a natural result of the decrease in theft rates according to the first point, and I have refuted it.
3. Not necessarily, this will be associated with identity verification procedures and paying service fees to the party concerned with providing it.
4. Same answer as point 3 ; Not necessarily, this will be associated with identity verification procedures and paying service fees to the party concerned with providing it.

All these points lead to a clear conclusion ; There is a real and urgent need to build a financial system without cash, but not according to the basics on which the cash system was based with its centralized background. Decentralized cryptocurrencies offer the most effective solution in this case.

it is a good prediction, cashless society is one of the best option ever if it is bitcoin because it has decentralized system. But from your narration, You also made mentioned of fiat currency if made as cashless digital currency. And I really appreciate your pros and cons. But if government brought out cashless policies that would be the worst ever. Because the charging fees will be deducting higher than the cash system. Government have never embarked on any project that  benefit the citizens forever. Mostly the developing nations. Also I do not think the world will go for a cashless society because of the illiterate ones. If the government implement the policy today, how the market women and men that do not know how to use the system will do? So, as form, I will prefer a mixed transaction economy of cash for the local market people and cashless (bitcoin) for the computer literates. Then another question arises, when the cashless group want to buy something in the market, what will they do? At that time they also need to have cash to buy the cooking stuff. Therefore, cashless society became cash again.

Going cashless has many benefits but I am not sure how it can ease inflation. Since inflation is much more than the excess of currency in physical form. The value of a currency is falling and if it was that easy to curb inflation then we wouldn’t be facing it in the first place. There are many economic and political factors that are contributing to inflation and we must go to the root cause of the issue to resolve this crisis.

In fact,I think that the trend of non-cash payment will be the next development trend of the world. However, payments are only a small area allowing changes to be received from a better angle. A total change to a world with NO CASH There can be many possible pressures or difficulties for a major transition. It will probably take a long time, but CBDC piloting or the full development of bitcoin and crypto can remind us that the opportunity to move towards a completely cashless world is possible in the future go further

depend in what kind of country you are running mate because surely if your country is not completely developed or not having that great internet connection and the willingness of your people to adopt .
there must be something that you need to impose for them to understand how this will work and will be adopted .

There are parts of the world which havent touched up by internet or simply the gadgets and things that do talks about connectivity and thats a fact since there are corners of the world which arent that civilized nor having that progressive state which is understandable but its a bit impossible that there were no connections or something like that since internet is everywhere.For cashless society then it could be possible but
totally hard to imply or apply considering that there are transactions which is more better to be done with fiat or paper money than on online stuffs or something correlated.
Now we are on a high tech era which transactions could really be done easily through online transactions and we would really be progressing as future years to come.

Cashless policy is what is raining everywhere in the country are they the cashless policy is becoming obvious because of the way of cryptocurrency and the cryptocurrency is the one that brings this many changes for cashless way of living and right now if you have been helping and Islam produce a lot of criminal activities in so many environments

and a perfect reason why we must not consider that the whole world is ready for that adoption and embracing the cashless society is not for the entire world, maybe in the future but for now? this is limited to those countries that are ready for this and willing to take part of it.
maybe there is a need for preparation before the proper implementation .

Cashless policy is inevitable and we like or not its gonna happen in the future. Actually, we now using it as a payment system online such as paying bills, ordering online and even going to the supermarket we can pay online using some various online apps. So, we eventually have this coming and I like it for its convenient for me without really carrying a real cash in my wallet and all I need is my phone though.

People are way just too optimistic on something that they do see that it could really happen or they do want to see it to happen right away without even thinking or
realizing on how hard for it to be done or implemented since not all people are really that literate on todays era where everything turns out to have the access on the internet
and as mahanton said that connectivity is really that simple and could be done which its impossible to think that someone couldnt able to engage on.
Its true that implementation is hard because adjustments would be needed and wont really be that able to happen in a very short span of time.

True. It is not those scams that we can just call it money theft. I had some friends where I do not even know how the hell their money got stolen (it happened long time ago). I just heard that the balance from their wallets were somehow just got swept away in a blink of an eye.
I realized that in anyway as long as it is coded by someone, there is no perfect security.

Well, it was not an issue if we pursue having a cashless society or not, but the question is if the government and the community is fully ready to adopt the system? Coz what I see, even 10 years from now the people aren't ready enough for this nor the government. As long as we still have the option to use fiat, this is impossible. As per to see, people are much more comfortable using fiat on daily basis and also establishments.

As for me, cashless is just an option, the same thing with fiat and it remains like that forever.