Cashless society

[micher143]

Cashless society will result of people became more lazy because what is the sense of working hard of you are not gonna be rich and besides the bitcoin is a "money" also so I think cashless society will be a doom for all of us. If that will or gonna happen I hope that I am not here anymore.

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[Vaskiy]

Its a big dream which is not possible to achieve until Internet would be safer to transact as you see lot of fraud happening around the world. Due to which many of us would feel cash is the best thing.

Well apart from fraud being the hindering factor I think the governments around the world will have more power over us if we have a cashless society because they will be controlling the funds online and in certain countries I'm told the government has set limits to their individual spending habits and so without the physical fiats they can easily censor how much each individual spends and that will be a big problem.

Agreed, based on this the systematic functioning of the country's financial system becomes effective through cashless society. Same time the entire control will be in the hands of the concern government. Just because of the same we'll be followed and the taxation will be high. This is the one that becomes a problem and people don't have good knowledge about digitalisation much.

[ss890]

Future. Very long journey yet but if you speak of tomorrow's world then yeah it's secure and almost half of it cashless! It's just not everyone feels secure about going cashless. Many of the crowd still loves the carrying cash and spending that way. Really hope that blockchain technology will bring something new for those who dislike the idea of cashless society.

[Ammigo13]

I do not think that paper money will completely disappear, it can only be in fantasy films. Nevertheless, there are places where it is much more convenient to use paper money and they will not disappear.

[gabmen]

I do not think that paper money will completely disappear, it can only be in fantasy films. Nevertheless, there are places where it is much more convenient to use paper money and they will not disappear.

And those places are a lot. Not all countries have the luxury of having steady online connection all the time so i also think that going cashless would be a big challenge for many countries to drop fiat transactions.

[Pettuh4]

I do not think that paper money will completely disappear, it can only be in fantasy films. Nevertheless, there are places where it is much more convenient to use paper money and they will not disappear.

And those places are a lot. Not all countries have the luxury of having steady online connection all the time so i also think that going cashless would be a big challenge for many countries to drop fiat transactions.

I guess those countries will prioritize having good online connection and hardware before they will even consider going cashless because there are certain fundamental criteria I suppose a country must meet in order to proceed with this idea because it's very challenging and a little failure somewhere could spell doom for the whole system.

[darkangel]

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. 

I think this can not happen. Society without cash is bad. No matter how modern we are, other payment methods such as ATM cards, bitcoins can not afford to have no cash in our daily lives. When you go to the market you buy oil bottles, bunches of vegetables, fish, chili without cash, all other methods of payment are inconvenient.

[Abiky]

Good point this is one of the bad sides to fully integrate cashless society. There will be problem you point in maybe biggest one, how will they do it. Every system is not perfect but cashless society maybe primary goals could be to be perfect in some way. Also if this cashless society would be on internet payment or online, that would be even bigger problem cuz not all places in the world are cover will net. Still from this there are more problems then any good solution for this.

I guess that the negative implications for a cashless society outperforms the positive ones. While it may take a few years for it to become a reality, this could speed up from doing so as internet access becomes available to anyone in the world.

To reach a large scale, I believe that at some point in the future the internet would be distributed to any region worldwide via the use of satellites to transmit the signal for it, just like it is done with TVs nowadays.

When a solution for a worldwide internet comes in, a fully cashless society would come into effect enabling governments to have full control and access over our financial information, eliminating our rights for privacy, but greatly reducing criminal activity such as money laundering due to the complete transparency such system would have if powered by a blockchain.

Right now, all of the technologies required for this become a reality are available, and it wouldn't be surprising if governments begin using implants, along with AI, IoT, and the blockchain to achieve not only a cashless society, but a fully autonomous and transparent society giving them the full control over our most sensitive information whenever personal, medical, or financial ones.

Nevertheless, before this becomes a reality, we should be prepared to embrace it in the future. Just my thoughts

[chixka000]

How would a cashless society look? Everyone would by equal. Everyone would by rewarded by working hard. People would trade items off worth with each other and lend stuff out for something else. I don't see much wrong with that it happens in some countries already.

That is not so possible we can even do that in fiat alone right? But still there were unlucky people who still suffer. How much more for a cashless society? That we became very dependent of the technology

[hisuka]

How would a cashless society look? Everyone would by equal. Everyone would by rewarded by working hard. People would trade items off worth with each other and lend stuff out for something else. I don't see much wrong with that it happens in some countries already.

That is not so possible we can even do that in fiat alone right? But still there were unlucky people who still suffer. How much more for a cashless society? That we became very dependent of the technology

I dont think it would happen a cashless society. If you balance the situation not all people would adopt this bitcoin as fiat is already exists. And it willstil exists for more more years. Although this technology help to ease people lives but fiat still being use in the future.

[stompix]

Its a big dream which is not possible to achieve until Internet would be safer to transact as you see lot of fraud happening around the world. Due to which many of us would feel cash is the best thing.

It's not a dream it's becoming reality in northern Europe.
Take for example Sweden.
Barely 2% of all transactions are being done with cash. By 2020 the percentage will probably go below 1% , the point where cash is irrelevant.

I dont think it would happen a cashless society. If you balance the situation not all people would adopt this bitcoin as fiat is already exists. And it willstil exists for more more years. Although this technology help to ease people lives but fiat still being use in the future.

Why do you assume a cashless society can't work with fiat money?
See my example in the previous quote.

[chixka000]

How would a cashless society look? Everyone would by equal. Everyone would by rewarded by working hard. People would trade items off worth with each other and lend stuff out for something else. I don't see much wrong with that it happens in some countries already.

That is not so possible we can even do that in fiat alone right? But still there were unlucky people who still suffer. How much more for a cashless society? That we became very dependent of the technology

I dont think it would happen a cashless society. If you balance the situation not all people would adopt this bitcoin as fiat is already exists. And it willstil exists for more more years. Although this technology help to ease people lives but fiat still being use in the future.

Tho i am really a big fan of cashless society i would to agree with you that as of now it is really far from possible. Even in the future that the technology is more advanced i am still pretty sure that fiat still exists

[infer]

How would a cashless society look? Everyone would by equal. Everyone would by rewarded by working hard. People would trade items off worth with each other and lend stuff out for something else. I don't see much wrong with that it happens in some countries already.

That is not so possible we can even do that in fiat alone right? But still there were unlucky people who still suffer. How much more for a cashless society? That we became very dependent of the technology

I dont think it would happen a cashless society. If you balance the situation not all people would adopt this bitcoin as fiat is already exists. And it willstil exists for more more years. Although this technology help to ease people lives but fiat still being use in the future.

Tho i am really a big fan of cashless society i would to agree with you that as of now it is really far from possible. Even in the future that the technology is more advanced i am still pretty sure that fiat still exists

Well, we still need money though. Even thought people ignore that money is the same as cash, I still think that they are just the same form and you can not run from the reality that money is a big part of our world and we can never remove it.

[HarleyQuinn9876]

 wonder what would the society be without cash? At the time, all payments were spent in virtual currency. Buy a cake or a bottle of water you also use ATM card. I find this quite interesting. You can buy anything with just one card, not with money as before. The payment is quite fast.
But there is a problem that is the manifestation of high tech crime

[noictib]

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. 

I think already many things that you want is existing in the Bitcoin with better quality and it is going to get more better improvement again with the launching of the segwit2x .
Here the Bitcoin is transparent already ,and also it is not available for the use for the criminal activities because criminals can make deals in Bitcoin but they will need at every need to sell them for money , so I don't think it is much simple for everyone to use Bitcoin for illegal purpose .
So I don't think we need any improvement more in the Bitcoin .
Here already in my country many shops are mobile recharge shops are accepting the Bitcoin that is a pretty cool thing for us because i never need to sell btc for the cash  for small amount of money

[Colt22]

How would a cashless society look? Everyone would by equal. Everyone would by rewarded by working hard. People would trade items off worth with each other and lend stuff out for something else. I don't see much wrong with that it happens in some countries already.

That is not so possible we can even do that in fiat alone right? But still there were unlucky people who still suffer. How much more for a cashless society? That we became very dependent of the technology

I dont think it would happen a cashless society. If you balance the situation not all people would adopt this bitcoin as fiat is already exists. And it willstil exists for more more years. Although this technology help to ease people lives but fiat still being use in the future.

Yes, Other currencies also does exist but bitcoin is the best currency ever bitcoin is being the best currency and now it is helping many cashless people to earn cash for their future as well as for their present. 

[Rizky Aditya]

I also see a cashless society in the future, but i feel that the "new" currency would still be controled by governments in a BAD way

Maybe it will take many years to happen this cashless society. Government should educate all regarding this from high to low level of societies. But this would never be easy. Many will protests to this especially of low class because its not easy to have cards when you dont have a savings in bank. They will not easily issuing cards to these people. So what are they going to use? This is one of those problems that will be facing by the government if we are going cashless.

I agree with you, pal. I do consider bitcoins as the future leading currency but still the society will not become cashless. We can have cashless society only if all levels of society are equally educated and trained for using bitcoins. It will take time but impossible at all.

[magmar]

This is possible, but this would be implemented by the governments.  This would result into fiat currency being converted to electronic currency. Generally, I think this will not result to the governments using cryptocurrency as most of those are decentralized. Something the governments don't want.

I agree, that doesn't make sense if they we are cashless and we are now using bitcoins but it is controlled by the government and banks. That would be a lot of taxes and fees just like your real money. And with that the bitcoin and other cryptocurrencies are ruined. We don't want the government to be involved in these.

[chixka000]

How would a cashless society look? Everyone would by equal. Everyone would by rewarded by working hard. People would trade items off worth with each other and lend stuff out for something else. I don't see much wrong with that it happens in some countries already.

That is not so possible we can even do that in fiat alone right? But still there were unlucky people who still suffer. How much more for a cashless society? That we became very dependent of the technology

I dont think it would happen a cashless society. If you balance the situation not all people would adopt this bitcoin as fiat is already exists. And it willstil exists for more more years. Although this technology help to ease people lives but fiat still being use in the future.

Tho i am really a big fan of cashless society i would to agree with you that as of now it is really far from possible. Even in the future that the technology is more advanced i am still pretty sure that fiat still exists

Well, we still need money though. Even thought people ignore that money is the same as cash, I still think that they are just the same form and you can not run from the reality that money is a big part of our world and we can never remove it.

You are right however i am not just talking about just money here because obviously bitcoin is a pure evidence of money as well in other case tho. Cash can be removed by yeah money does not

[Ctn]

Have you seen Mr. Robot? You reminded me of it.

Well coming to real world, it is not possible at least for next 20 years. No matter how easy cryptocurrencies made the finance but still its scope limited to internet. We need liquid flow of internet to transfer BTC and other coins from one person to other. But if we see current situation, internet is not the bite of every individual. Lots of technical jargon stops the way of utopian society of CRYPTOCURRENCIES.

There is one more problem with cashless society that is we are not really connected with the internet throughout the globe. International transaction are not allowed in every country via use of internet. That is few countries will always be in restricted list of that country so internet won't allow you to do easy e-transaction.