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Author Topic: Cashless society  (Read 35696 times)
BitcoinPaw
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April 20, 2018, 06:12:16 PM
 #1721

I'm not sure that world is ready for it. Cash helps people to understand the value of money but when evertything will cahnge to digital many people would be angry for sure.

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m9shn9sh
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April 20, 2018, 07:09:56 PM
 #1722

The cashless society will really happen if most of the people will prefer to use digital money than fiat money. If the bitcoin gained so much power, there is a big possibility that the bitcoin can replace the fiat money.
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April 20, 2018, 07:13:23 PM
 #1723

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.  Wink

Cashless society is really good since we are are all going to use cryptocurrency to pay our bills daily and bitcoins price will grow as well so we can expect a lesser expenses in the future if we use bitcoins daily.
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April 20, 2018, 07:15:44 PM
 #1724

For something to be a necessity like that it would require licensing, government acceptance, and with a blockchain involved - and therefore internationally.. I can see there being big problems. There are a lot of pros for it ofcourse, but I'm not sure it will be a reality anytime soon.

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April 20, 2018, 07:23:53 PM
 #1725

It's can surely happen someday in future. But there are a lot of decades left for that. Firstly you need near 100% internet availability for all. Secondly there are hacking and internet security issues. Thirdly there are awareness and internet literacy issues. So yes, it will take time and more importantly will of the society and government, but yes, I see that happening in distant future.
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April 20, 2018, 07:37:52 PM
 #1726

Please check my opinion: https://bitcointalk.org/index.php?topic=3360316.0
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