Cashless society

[Xising]

I can certainly imagine the convenience of a cashless society. It is not impossible but it'll take time for bitcoin to reach this level of ubiquity. In line with that, banks and all the establishments would have deal with massive revamp. You are right, the security is so high that crime rate online would come to a decline eventually. I really think this idea is bound to happen, maybe 50-60 years.

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[Alaissa Ganda]

Have you ever wondered how would the world's economy be like in the future as a cashless society?

Perhaps, with the increased traction of blockchain acceptance nowadays, could lead to the creation of digital fiat currencies powered by blockchains that are managed by governments themselves. With this in mind, there would be no need for physical cash, as digital fiat currencies would provide many advantages such as quick settlement, global payments, full transparency, implants use on citizens to make payments, and more.

If this becomes a reality, which I'm sure that it will, it would radically transform our lives for the better and reduce criminal activity as a result of the full transparency and auditability that a digital fiat currency would have thanks to the power of the blockchain technology.

Also, it makes me wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.

Nevertheless, I would like to know your opinion about this. 

That would be totally possible in the next 5 years i think. Of course the government will converge in thw future they will cope up to the next generation that we will call a digital era. I think they will probably create their own digital currency a digital fiat in other words. And they wipp co exist in the cryptocurrencies but I think others will be eliminated and all tbose successful ones will be left like bitcoins ethereum and others. They will never be an official currency but I think that they can be used as a mode of payment in some stores.

[Xenoph0bia]

Have you ever wondered how would the world's economy be like in the future as a cashless society?

Perhaps, with the increased traction of blockchain acceptance nowadays, could lead to the creation of digital fiat currencies powered by blockchains that are managed by governments themselves. With this in mind, there would be no need for physical cash, as digital fiat currencies would provide many advantages such as quick settlement, global payments, full transparency, implants use on citizens to make payments, and more.

If this becomes a reality, which I'm sure that it will, it would radically transform our lives for the better and reduce criminal activity as a result of the full transparency and auditability that a digital fiat currency would have thanks to the power of the blockchain technology.

Also, it makes me wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.

Nevertheless, I would like to know your opinion about this. 

That would be totally possible in the next 5 years i think. Of course the government will converge in thw future they will cope up to the next generation that we will call a digital era. I think they will probably create their own digital currency a digital fiat in other words. And they wipp co exist in the cryptocurrencies but I think others will be eliminated and all tbose successful ones will be left like bitcoins ethereum and others. They will never be an official currency but I think that they can be used as a mode of payment in some stores.

We cannot predict the future but observing the currenct scenario,there is a possibility that cashless society can come into existence in the future.The introduction of cryptocurrencies is a blessing for all of us.It has some advantages over the fiat currency.Transactions through the cryptocurrencies are much more easier than that of fiat money.Number of users of bitcoin are increasing day by day.Bitcoin also provides easy ways of earning money too.

[ashfer]

A cash less society is something which is not that easy to make into practice as there are lot of people in this society who don't even get proper access to the normal banking system so i think that a future like a cashless society will take some time to come into real life practice and it might even create issues for the people from the low class society as they won't be having bank account so it will be really difficult for the once living in low class and i don't think its a good idea to remove real life currency as the street vendors doesn't accept cashless transactions.

[Hans17]

Have you ever wondered how would the world's economy be like in the future as a cashless society?

Perhaps, with the increased traction of blockchain acceptance nowadays, could lead to the creation of digital fiat currencies powered by blockchains that are managed by governments themselves. With this in mind, there would be no need for physical cash, as digital fiat currencies would provide many advantages such as quick settlement, global payments, full transparency, implants use on citizens to make payments, and more.

If this becomes a reality, which I'm sure that it will, it would radically transform our lives for the better and reduce criminal activity as a result of the full transparency and auditability that a digital fiat currency would have thanks to the power of the blockchain technology.

Also, it makes me wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.

Nevertheless, I would like to know your opinion about this. 

Maybe , many of us have some different perspective on here , but for me there is advantages and disadvantages , and one of the advantages of it is , it would be easier to withdraw , transaction , buying anything that we needs. And disadvantages of it is, many of us , because of envy and greedy , we killed people , or sometimes committed crimes , like scam or whatever.

 

[Afnan_faizah]

Many countries are beginning to apply cashless, making paper money very expensive, therefore many countries implement cashless system...but I think it can only exist side by side cash society

The cost of making, handling and even the destruction of paper money is very expensive. Yep, many countries try to become cashless society but those countries will make it with it's state bank. So the citizen will use credit card, I think bitcoin will become alternative currency.

[nicesquawk]

The concept of cashless society is becoming possible these days, although, I don't it happening in the nearest future but we will get there with cryptocurrency.

[Mainman08]

A cashless society is only posible in a rich country. But in a third world country like here in our country it is hard to implement a cashless society. Because of high number of poor people.

[Snub]

If this happens, the difference between the social classes will also be greater. How can a poor man afford such a luxury?

[Sweeet123]

Going cashless does seem to be a good idea, as it might reduce corruption among people. Also the transactions would be safer and secure,more convenient since there would be no need to handle hard cash with you. Its a good idea, but there would be lot of resistance to this, since lot of people would still be reluctant to switch to cashless system,as it might be a little esoteric for them

[stayeduptolate]

A cash less society is something which is not that easy to make into practice as there are lot of people in this society who don't even get proper access to the normal banking system so i think that a future like a cashless society will take some time to come into real life practice and it might even create issues for the people from the low class society as they won't be having bank account so it will be really difficult for the once living in low class and i don't think its a good idea to remove real life currency as the street vendors doesn't accept cashless transactions.

Although Bitcoin and the other cryptocurrencies have gained a lot of popularity and the users of Bitcoin are increasing day by day, cashless society is not possible in the near future.This is because cash or Fiat currency is used by all the people all over the world.Moreover,Bitcoin or any other cryptocurrency is not legalised in many nations.Btcoin is not under the control of any Central Bank or any government so there can be cases of fraud.Also many people still don't know how to use Internet and Internet is also not available in every corner of the world so it is difficult to use Bitcoin everywhere.

[uniquefighter]

Many countries are beginning to apply cashless, making paper money very expensive, therefore many countries implement cashless system...but I think it can only exist side by side cash society

Its almost here actually. Visa card had already made it happen, they are not talking crypt but if all are using visa card, cashless is possible. crypto society may not really be happening during our generation, it may take another10 years before half the world will accept coins.

[quantumcomputing11]

You wonder if bitcoin is going to exist in a cashless society? I would be hard pressed to imagine a cashless society without bitcoin or cryptocurrencies. Probably have a bit of bias obviously being that I am here on BCT but nonetheless it doesn't change my opinion that if we lived in a cashless society bitcoin would for sure be there. It may not be our everyday currency but certainly it could be like how people have gold and use that to speculate. In the next few years we will get a good idea of where exactly bitcoin can go because now more eyes are focused on it and this will be the break it or make it point in bitcoin's history.

[BlackRock]

Cashless modern society implies, almost everything is accomplished electronically. For now its not achievable, but may possibly be in the future.Its dangerous being aware of that there are heaps of hackers close to you. Snatchers and robbers will lower but on the internet hackers might increase

[bitcoinmaniac52]

A cashless society is becoming more and more realistic with every passing day. Just look at how many people do not even carry cash anymore these days. You would be hard pressed to find a single person walking down the street carrying much cash, but guess what? They will be carrying their debit/credit cards which contain thousands of dollars on them. And soon it will be in Bitcoin and not fiat.

[usorin]

The cashless society it's not a dream, as long as there is the technology (plastic, ATMs) and electricity i don't see any reason why the cashless society wouldn't be a dream comed true.

[fullhdpixel]

Have you ever wondered how would the world's economy be like in the future as a cashless society?

Perhaps, with the increased traction of blockchain acceptance nowadays, could lead to the creation of digital fiat currencies powered by blockchains that are managed by governments themselves. With this in mind, there would be no need for physical cash, as digital fiat currencies would provide many advantages such as quick settlement, global payments, full transparency, implants use on citizens to make payments, and more.

If this becomes a reality, which I'm sure that it will, it would radically transform our lives for the better and reduce criminal activity as a result of the full transparency and auditability that a digital fiat currency would have thanks to the power of the blockchain technology.

Also, it makes me wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.

Nevertheless, I would like to know your opinion about this. 

By forcing the entire population to adopt digital money, there is the possibility of new technologies and innovative companies developing. In Somalia, for example, banks are precarious and walking with bills and coins is risky because of assaults by extremist militants.

As a result, smartphone payment services have become popular and 40% of adult’s transfer money through cell phones. BTC is a huge tool to step toward the digital world and people will try to acquire BTC and also use it and become digital due to its ever-increasing value

[Bigbangcrazy]

I actually saved money when I started using cash. I know how much I need & what I can spend. I don't want to those silly rewards. I will be that one old man who still uses cash in 2060. 

[azguard]

Have you ever wondered how would the world's economy be like in the future as a cashless society?

Perhaps, with the increased traction of blockchain acceptance nowadays, could lead to the creation of digital fiat currencies powered by blockchains that are managed by governments themselves. With this in mind, there would be no need for physical cash, as digital fiat currencies would provide many advantages such as quick settlement, global payments, full transparency, implants use on citizens to make payments, and more.

If this becomes a reality, which I'm sure that it will, it would radically transform our lives for the better and reduce criminal activity as a result of the full transparency and auditability that a digital fiat currency would have thanks to the power of the blockchain technology.

Also, it makes me wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.

Nevertheless, I would like to know your opinion about this. 

By forcing the entire population to adopt digital money, there is the possibility of new technologies and innovative companies developing. In Somalia, for example, banks are precarious and walking with bills and coins is risky because of assaults by extremist militants.

As a result, smartphone payment services have become popular and 40% of adult’s transfer money through cell phones. BTC is a huge tool to step toward the digital world and people will try to acquire BTC and also use it and become digital due to its ever-increasing value

To be honest in every country there is doubt and risk with using at the moment any digital currency, cuz there are is constant rise in price. Also there is huge risk that some banks if this comes to use globally dont have amount for users that have many bitcoin for example if you have 1000 bitcoins imagine how much bank would need to pay you.

[gambitcoin53]

If you can imagine yourself buying a fish in the market or waving at a bus to ride going to somewhere but takes you 3minutes to transact bitcoin transfer to the driver before getting a seat, that would be so crazy, not to mention the limited internet access from your location. This takes a lot of thinking before implementing the cashless trading. Possible but not so soon to become a reality.