Why we should fear a cashless world

[19Nov16]

Remember, whatever we need need money, it makes the role of money is very important, money like blood on the body, so if without money then we will die, then from now we must prepare ourselves to have money.

[kaya11]

Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance

http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless

Discussion

That's one of the disadvantage of the digital currency, to remote areas beyond internet and electricity reach. There are people who don't even know how to use smart phones. My country is composed of 7k+ islands and most of them are rural areas. Only the people living in the urban areas are using digital payments such as BTC.

[Donceng]

yes we must be afraid if the world without money is very unlikely because with the advancement of today's technologically sophisticated then all the transaction activity definitely involves cash both cash and non cash. and it is very important for human life

[amaydel]

One of disadvantages of having a cashless environment is that we could never transact or buy anything we want if everything goes offline. Unlike having real cash around, you can do transaction right away and doesn't need you to be online at all.

[Oceat]

Fear from hacking because if all of your money are now cashless it is prone to be hacked by someone and worrying this money will not return back to you.

We should fear a cashless world because the government can then now how much money we have and they would have to much control in my opinion. The balance in the world would not be fair at all.

There is a lot of hackers now, that's one of the disadvantage i see in cashless, because your money is not in your hand and you're still waiting when you recieve it. As long as you didn't touch your money you are not sure if you recieve it safe.

Yes a lot of hackers are here now and they are ready to take the money from bitcoin investors and hold it in their own wallets. Bitcoin is not easy to hack now because it is having a lot of other wallets and saving systems. If you are using offline wallets then it will be more beneficial and it will be hard for them to take your money. I don’t know way people are afraid of lose and they want to use only one currency.

Hackers are true geniuses, they will always find ways to steal money in our wallets in different ways, we will be very difficult to prevent that, we can use security or any wallet system, all will also be useless with them. Therefore, a world without cash really is something that we should fear, we will always live in a situation of anxiety, not knowing when the hacker will visit us, I never want that to come to me, it will be a nightmare. And the world without cash will bring an inconvenience to me and many others around the world, sometimes the transactions will be delayed, I hate that, even buy something with a few dollars that also need to use wallet online, that is really funny thing.

When a hacker found a spot open to your backdoor they will exploit it until you have no more left but once are good at protecting your belonging no one would ever come close to you. They will need to put a hard effort to get to your computer which is through social engineering and planting a malware in your device. If you are all aware to your surroundings you will easily notice these guys.

[Aditya1011]

I can never imagine a cashless world..because paper cash is important...and it can never be stopped...the real proof is always on paper..even court never trust on online proof..

[Pfizer]

Remember, whatever we need need money, it makes the role of money is very important, money like blood on the body, so if without money then we will die, then from now we must prepare ourselves to have money.

Without cash, nothing is possible in our selfish lives and worlds. Nobody cares for you, nobody helps you most probably. That's the reason why people feel very bad about being cashless in the world.

[/GeertJohan]

If this happen it really good development for the all countries then all money controls are transferring into bank system and the world currencies are become decentralized. But this only worth for some people because more poor people does not know about the trading and they are not using that.Then how can they understand.First of all when it commenced by goverment they should announce the awareness about that.

[darkangel11]

yes we must be afraid if the world without money is very unlikely because with the advancement of today's technologically sophisticated then all the transaction activity definitely involves cash both cash and non cash. and it is very important for human life

What are you talking about? A cashless world isn't a world without money! Money come in many forms, cash is one of them.

One of disadvantages of having a cashless environment is that we could never transact or buy anything we want if everything goes offline. Unlike having real cash around, you can do transaction right away and doesn't need you to be online at all.

And how would you put "everything" offline? You'd have to destroy the network in a given country, but how? By nuking all the hubs and telephone towers? By destroying the whole power grid? If anything like that would happen you'd be afraid to transact in cash as the country would go unstable within hours along with its whole treasury and banking.

[Webetcoins]

Fear from hacking because if all of your money are now cashless it is prone to be hacked by someone and worrying this money will not return back to you.

We should fear a cashless world because the government can then now how much money we have and they would have to much control in my opinion. The balance in the world would not be fair at all.

There is a lot of hackers now, that's one of the disadvantage i see in cashless, because your money is not in your hand and you're still waiting when you recieve it. As long as you didn't touch your money you are not sure if you recieve it safe.

Yes a lot of hackers are here now and they are ready to take the money from bitcoin investors and hold it in their own wallets. Bitcoin is not easy to hack now because it is having a lot of other wallets and saving systems. If you are using offline wallets then it will be more beneficial and it will be hard for them to take your money. I don’t know way people are afraid of lose and they want to use only one currency.

Sure bitcoin has wallets and it is not tough to use it, for this you will simply have to install bitcoin wallet in your phone and use it. If the world will go with only in one currency it will not have any charmed and enjoyment in life so It is good to have both the crypto currency and fiat one also. Bitcoin is now increasing in power and price so just stick with bitcoin as well if not to have money than to get profit.

[chichigirl]

I guess cashless society can bring us some advantages and disadvantages as well. Some advantages maybe btc can hack right away if you did not keep your password,  phones, computers in a very safe mode. Internet connection may interup our transaction as well. But there are some advantages as well in cashless society. It can bring us more earning and fast transaction too.

[iMark]

Fear from hacking because if all of your money are now cashless it is prone to be hacked by someone and worrying this money will not return back to you.

We should fear a cashless world because the government can then now how much money we have and they would have to much control in my opinion. The balance in the world would not be fair at all.

There is a lot of hackers now, that's one of the disadvantage i see in cashless, because your money is not in your hand and you're still waiting when you recieve it. As long as you didn't touch your money you are not sure if you recieve it safe.

Yes a lot of hackers are here now and they are ready to take the money from bitcoin investors and hold it in their own wallets. Bitcoin is not easy to hack now because it is having a lot of other wallets and saving systems. If you are using offline wallets then it will be more beneficial and it will be hard for them to take your money. I don’t know way people are afraid of lose and they want to use only one currency.

I think the world will not change their currency when they think it's not too safe, I mean the world will not turn into cashless when digital currencies have not been too good for them, cashless will happen when technology is completely advanced everyone is connected to the internet and security digital money is guaranteed by the government, cashless does not mean bitcoin will dominate right ? although bitcoin security is good enough to save money, by adding 2fa you can get great security of your money but essentially do not be afraid of cashless, before cashless happens the government will definitely perfect this system first,,

[Ranly123]

Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance

http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless

Discussion

If the poor will be fully educated about how to use cashless transactions then there would be no problem at all. Though the risk is high in cashless system because it can be hacked and you funds will be gone in an instant. I think the most effecient way is have a cashless system at the same time have the fiat system and sync both to secure every people's funds.

[mylyn2327]

5) Not classed as a "good" citizen, they will freeze your account leaving you destitute instantly.

This is the worst point of the system. At this point laws can manipulate any person on the planet to do anything.

It's true that if cashless society happen, laws can manipulate every transaction we are going to made. Our freedom to buy or to avail necessary thing that we want to be secret will be gone too. Every transaction we are going to make has a record, compare if we have cash on our hand. It may happen also that law can freeze any of our account without any further notice and that's the saddest part of cashless society even though it is less hassle.

[katarin2030]

I can never imagine a cashless world..because paper cash is important...and it can never be stopped...the real proof is always on paper..even court never trust on online proof..

Yes go to any part of the world we can see the use of fiat money, it is highly impossible to stop the use of paper money. Both advantages and disadvantages are there by the use of paper money. That is not a sort of fear but that surely affects small traders and lower middle class people. Main beifit of cashless society is that decreases fake currency.

[adiksau0414]

Actually we dont have to fear with cashless society, although it might have disaDvantages in using it. As like what you said normal citizen or the poor suffer. Some of tjose poor people dont have the access in internet (which we need in transacting online) or even using credit card that needed some annual fees or any other hidden fees. Also online hacking is possible eapecially to those who have weak security. (credit cards are hackable these days). But in the brighter side, cashless society will help people at ease without carrying much money in their purse. Just swipe or in one click we can purchase anything.

[anhhung409]

I think if the world becomes cashless, there will definitely be another payment method for the poor and small businesses. They are a small part of human society so they will never be abandoned. This has taken place in the present and in the past.

[rcticoin]

no one in the world are pleased to lose money, but also no rich people never lose money. contrast, a lot of the poor are never lose serupiah also, since they actually never invest or business at all.

[chineseprancing]

We were fear to cashless world because in this kind of society we have no assurance. Why? Because technology is made by people, some innocent people were possible to hack or steal their money without knowing and it's hard for them to determine what happen? Also systems of all digital currencies had no hard security to protect the amount of all users. Moreover there were no insurance for the people who save high amount, it means that savings in digital world was taking your own risks too.

[mriansa]

Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance

http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless

Discussion

because if we are still using cash and using paper money then it is not very efficient and can make the paper material run out and the earth becomes very arid, we must reduce the circulation of paper money and reduce the use of paper money.