Cashless society

[deppil]

I don't think that's a good idea. First of all not all people has access  the internet, secondly cryptocurrency takes some skills to know how to handle it and do your transfers online so it's gonna be hard for old people and those who are not into technology to learn about. "Cashless Society" is a great idea, but unfortunately it's really hard to have it  in the real world.

Cashless society is a good idea to apply but it will not be implemented in the current era. Many people are still technologically blind and even they do not know how to use credit cards. So I think cashless society will definitely happen someday but not in the near future

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[jonosutio]

If society does not have money then its future will be destroyed, what if people have digital currency then the future will come well, so the beginning is needed to access with universal free internet, when it is held.

[Forbiddenone]

I don't think that's a good idea. First of all not all people has access  the internet, secondly cryptocurrency takes some skills to know how to handle it and do your transfers online so it's gonna be hard for old people and those who are not into technology to learn about. "Cashless Society" is a great idea, but unfortunately it's really hard to have it  in the real world.

Cashless society is a good idea to apply but it will not be implemented in the current era. Many people are still technologically blind and even they do not know how to use credit cards. So I think cashless society will definitely happen someday but not in the near future

cashless society not only mean cryptocurrency,other digital payment is widely accepted,cryptocurrrency is virtual investment asset ,do not confuse it with normal digital currency.digital currency which have stable can be accepted widely by everyone but not cryptocurrency,only some big mnc company or associated company can take it.

[iram1011]

Cashless society is indeed a future but far away from where we are. For that we need 100% internet connectivity and people need to be educated enough to use it. Regarding cryptocurrency being the major part of it, I believe till that time banks would have launched their own digital currencies. Cryptocurrencies will be there but wouldn't be that famous. Might be some other payment system come into existence.

[Dudeperfect]

Yes, governments will definitely put their efforts in implementing a digital form of fiat currencies but still I don't think that there are any possible threats to the Bitcoin because the core fundamental principle on which we trust is not the digital form, it is no interference of any third party so even if governments are promoting the digital fiat currencies, still it will be their control on it and thus people would prefer Bitcoin or altcoins in my opinion.

[albertvert]

Yes, governments will definitely put their efforts in implementing a digital form of fiat currencies but still I don't think that there are any possible threats to the Bitcoin because the core fundamental principle on which we trust is not the digital form, it is no interference of any third party so even if governments are promoting the digital fiat currencies, still it will be their control on it and thus people would prefer Bitcoin or altcoins in my opinion.

Cashless society means the transactions will be made by digital currency .For that to happen, bitcoin should replace dollar first. Later the paper currency and atlast entire cash system.For this to happen ,people must aware of digital currency like bitcoin .We can use social media to spread the knowledge about bitcoin. Once all the People in world come to know about bitcoin or digital currency means,cashless society will be possible.

[SushiMonster]

In the next years I think it will become possible - cashless transactions
But I don't think that it's possible for our world to be cashless.

[Lumada]

In the next years I think it will become possible - cashless transactions
But I don't think that it's possible for our world to be cashless.

it will be hard to implement especially for the elderly and those young people. Some elders now haven't know yet how to use internet and ATMs ,maybe both can still be applied like now,btc and caah aa it is.

[User365]

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 in 10 years there will be like nearly no cash.

I really hope BTC has been adopted well till than, otherwise the banks will rule everything.

[Theb]

In the next years I think it will become possible - cashless transactions
But I don't think that it's possible for our world to be cashless.

it will be hard to implement especially for the elderly and those young people. Some elders now haven't know yet how to use internet and ATMs ,maybe both can still be applied like now,btc and caah aa it is.

Well do you think our world would be better if we live a world without any fiat currency? I don't think so because we are not ready for that kind of transition yet, think of it this way our country's assets won't physically exist but only exist in the net which makes it more vulnerable as hackers right now are so powerful and intelligent in which they can do anything with their computers. Also you are right not all people are technically inclined especially the elderly in which we need to consider them first.

[azguard]

Cashless society seems to be a good concept.But there are lots of obstacles in implying it.There are more people who are still illiterate and they don't know any thing about digital transactions.Most of them don't own a bank account,don't even have a credit or debit card.Cashless transactions was even tried in india by devaluing high value notes.but it failed.People found comfort in using paper money itself.So,in today's situation,i think its highly impossible to make a cashless society.

For every big implementation there are big problems. Like you said concept is good maybe far good on paper then how it will be when and if this come to life. If we look at some point of view it is good we will eliminate paper money meaning we will gave more trees on out planet. From this perspective it is good concept but this process can be done over night and be implementation today for tomorrow. Lot of work is needed and lot of time to. Paper money is something that everyone loves, even we exchange some amount of bitcoin for paper one when we need this. So i would not say impossible but maybe in some quite long time 100 years maybe.

[trecore4]

I think there will not be a lot change to what we are seeing in today's economy. Crypto currencies however will be traded on higher prices than the current one. But implementing them in real world (other than virtual) would be difficult. In simple words, fiat will still lead the world while crypto's still be traded on the virtual data centre.

[Abiky]

I don't think that's a good idea. First of all not all people has access  the internet, secondly cryptocurrency takes some skills to know how to handle it and do your transfers online so it's gonna be hard for old people and those who are not into technology to learn about. "Cashless Society" is a great idea, but unfortunately it's really hard to have it  in the real world.

You have a point there, mate. In current times, it's rather difficult for a cashless society to emerge given the fact that not everyone has access to the internet, and have proper knowledge of how to use cryptocurrencies.

However, I believe that slowly but steady, a cashless society will be introduced by solving the issues mentioned earlier, allowing anyone to access the internet via a global satellite, and strengthening education about cryptocurrency usage for the masses.

When all of the limitations become surpassed, then a cashless society will come into effect, changing the ways we transact with anyone, and eliminating the use of physical fiat currencies once and for all. Just my thoughts

[azguard]

I don't think that's a good idea. First of all not all people has access  the internet, secondly cryptocurrency takes some skills to know how to handle it and do your transfers online so it's gonna be hard for old people and those who are not into technology to learn about. "Cashless Society" is a great idea, but unfortunately it's really hard to have it  in the real world.

You have a point there, mate. In current times, it's rather difficult for a cashless society to emerge given the fact that not everyone has access to the internet, and have proper knowledge of how to use cryptocurrencies.

However, I believe that slowly but steady, a cashless society will be introduced by solving the issues mentioned earlier, allowing anyone to access the internet via a global satellite, and strengthening education about cryptocurrency usage for the masses.

When all of the limitations become surpassed, then a cashless society will come into effect, changing the ways we transact with anyone, and eliminating the use of physical fiat currencies once and for all. Just my thoughts

This not need to be case in cryptocurrencies at all. Without internet you can pay nothing even with credit card or some other sort of card for payment. For solution nothing can come over night slow and steady like you mentioned is the best possible way. IF all see this is good and acceptable then they can start changing the way of people payment. Not to mentioned to all use cards for payment especially old people, they like more papers then plastic. This could be big problem.

[Kronos21]

Old people who do not accept plastic cards gradually die, and a new generation use Bank cards without problems. The costs of printing, delivery and service of Fiat is very high and therefore the state will certainly move to full clearing. I think it would be a period of 10-20 years.

[skinomanl]

I do not think that in the future everyone will switch to non-cash payment. In many countries there is no Internet for the smooth operation of this system and for the alternative they will always use paper money.

[Gaff]

Old people who do not accept plastic cards gradually die, and a new generation use Bank cards without problems. The costs of printing, delivery and service of Fiat is very high and therefore the state will certainly move to full clearing. I think it would be a period of 10-20 years.

I guess so. It has a nice effect if it will happen someday because many people are always cautious in getting their money when they are in the streets or public places when buying something especially those places that are new to them. We can't trust anyone in the place and getting money like paper bills or coins are too heavy in the pocket or in bags. I already experienced that and it's inconvenient.

[Himanshu111]

I don't think that cash will completely be replaced with cryptocurrencies in future simply because crypto don't work offline. Crypto is mainly for the educated class who know how to use Internet and can't be used by everyone so i don't think cashless society is possible.

[logicgate]

I do not think that in the future everyone will switch to non-cash payment. In many countries there is no Internet for the smooth operation of this system and for the alternative they will always use paper money.

I think in the world there are very less countries that who don't have internet and remaining countries have Internet, and now the advance of technology in modern world I hope the techlogy of internet spread in all over the world, and due to this there are more of chances for development of digital currency and everyone it will use as a payment of paper money.

[Hydrogen]

A cashless society would give banks a monopoly over financial transactions.

Relationships where one party wields full authority in a monopoly & everyone must abide by rules they set are abusive relationships via default.

Financial transactions being decentralized, split between fiat and electronic transactions is a better format.