Why we should fear a cashless world

[PacePay]

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

I am living in a developing country and in my area I am seeing even uneducated people are interested to know about bitcoin and many of them have invested their money in that currency. I am going to add that this currency is still in the early stage in my country so if it will get more place then these poor and small businesses will also adopt it and if they will adopt then there is a benefit for then to rise their business.

[Noelbetty12]

You don't have to fear a cashless world. It is not going to happen in my opinion for now. Consider that mostly internet connection is only available in bigger cities and in rich nations therefore it would be so hard to totally implement the total use of a cashless society. If implemented it would be too costly because each product adds the cost of internet connections to it. So I don't think this is really a profitable one.

[Aleth]

As long as banks are printing paper money it will not yet extinct and people will need to be educated first regarding on digital money before cash be removed. it will took time.

[iMark]

Some many are afraid of cashless financial system. Even currently in my country so many people do not have ATM card, some do not even have bank account. So if you tell such people about digital currency it will sound so abstract and risky. It will take decades for most people to embrace cryptocurrency.

Cashless will not be forced to happen or implemented, we don't have to worry about it, of course the government will understand, they know the condition of human resources from their community, I think the government will focus more on handling poverty and educating people than confused about cashless society, do not worry about it mate

[TonyFat]

I would not want all my money to be in the power of the bank or that he just knew about them, it's not freedom

[ymirymir]

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

I think we can't rely everything on digital currency because
most of the people today don't have enough knowledge about it yet. Also, there are places where there were no internet connections which is really important when using digital money. Cash is still convenient in our generation today.

[krhnrhn]

currently I am not using cash in my existing life due to credit card.. I can use easily cashless life..

[mrsimons121]

Think about a world without cash, what will happen. In Vietnam this is very bad. How will small daily trading activities take place? Can not buy a plate of rice, water that pays by bitcoin. Things will turn upside down if there is no cash.

[Bit-Tech]

In the world full of credit card, this may affect small businesses. But then if we shift to a cashless society, it doesn't mean that there is no literally cash involve. It's just tangible cash becomes intangible cash.

[tegaisaffluent]

The reason I am personally concern with the world going cashless is the difference in technological advancement. Like where I reside you can not get any thing with BITCOIN directly. Beside it's even hard to get BITCOIN sometimes and even some paper money banks take forever to transfer noney so many businesses in my area don't even allow cash transfer. To me running a cashless world in my country and continent will bring untold hardship that will lead to the death of so many people if not all

[Cash BTC]

Cashless economy is good concept but it has some problems like cyber attack,fraud,power outages. Because all transactions will be done by the electronically,so we have to trust on gov.or other third party.

[kirito1614]

I concur with this announcement. While I like the possibility of a cashless society I don't care for the likelihood that independent company or the poor will become lost despite a general sense of vigilance. Possibly the idea of the "essential living" through crypto would be useful for that to ensure that it is dispersed similarly, at that point obviously you can make considerably more past that through a semi-free enterprise framework.

[Vatimins]

Cashless economy is good concept but it has some problems like cyber attack,fraud,power outages. Because all transactions will be done by the electronically,so we have to trust on gov.or other third party.

     True, cashless society is really a very complicated thing in my opinion. There are just so much things that are involved which I think cannot be covered yet because of the lack of technologies on some areas in this world. Plus the fact that crypto currencies as of today has more cons than pros, I think that this world will crumble if a cashless society is forced at this state of the world and the crypto industry. While I am sure that time for this will come, I think that taking things slowly but surely is the best choice.

[Lecam]

We should fear it only if the cashless world only have internet to use as a wallet,
Because hackers could easily get their money,But if there is an offline wallet that could be used like trezor or Nano ledger then I don't think that we should fear it except for the huge transaction fee I don't see any other problem in it.

[BlackBeauty]

We should fear it only if the cashless world only have internet to use as a wallet,
Because hackers could easily get their money,But if there is an offline wallet that could be used like trezor or Nano ledger then I don't think that we should fear it except for the huge transaction fee I don't see any other problem in it.

I think if we know about digital currency so we should never fear about cashless world because bitcoin can fulfil our all needs but it will difficult for those persons who didn't know about bitcoin and they cannot join this as like uneducated people, so they will fear from cashless world otherwise we can handle without paper money.

[mashedtasks4]

There is nothing to fear and trust that is the best way to go about it.

[Betheng10]

I don't see any reason to be afraid except those who are not knowledgeable about cashless transactions, mostly technology illiterate people.

Phishing sites are mostly used today and those who no less of it are prone to be hacked and their security to be compromised.

[1C6fV5DtakfKANLJ8GUV7hCaA]

Again, we need infrastructure. People can just transact with their DNA signature or whatever. Come on. Cashless will make the society prosper. The poor will have access to any trade just with their whatever we can think of.

[callingbubblyH]

Fiats world are much much better btcs which has no physical contact with it. And dealing in it is much less hassle

[fredo123]

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

Crypto's are the most efficient and convenient to use rather than paper money, With regards to poor people, I guess government will find solutions for poor people if the time may comes.