Cashless society

[hello_good_sir]

Perhaps one day we will be seeing a economy with no hard cash as the world is progressing. Here is the present top 15 cashless economy around the world for a ready reference:

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1-Singapore : 61% cashless transactions.
2-Netherlands : 60% cashless transactions.
3-France : 59% cashless transactions.
4-Sweden : 59% cashless transactions.
5-Canada : 57% cashless transactions.
6-Belgium : 56% cashless transactions.
7-United Kingdom : 52% cashless transactions.
8-USA : 45% cashless transactions.
9-Australia : 35% cashless transactions.
10-Germany : 33% cashless transactions.
11-South Korea : 29% cashless transactions.
12-Spain : 16% cashless transactions.
13-Brazil : 15% cashless transactions.
14-Japan : 14% cashless transactions.
15-China : 10% cashless transactions.

Sources :
https://en.wikipedia.org/wiki/Cashless_society
http://www.businesstoday.in/current/economy-politics/here-are-the-top-cashless-countries-in-the-world/story/241430.html

On a side note, the Indian government is eyeing cashless society but hesitating to adopt bitcoins. I guess this will be the stand of any country with respect to "cashless society" and "adopting bitcoins".
First governments will grab cashes from people and will emphasize the importance of going for cashless transactions and from that people will realize the importance of adopting bitcoins 

Excellent analysis and stats. However I think that this does not relate much to bitcoin at all because most of these transactions are conducted by a debit or credit card that is issued by a commercial bank anyways, so it doesn't really make anything better by using a card because your savings are still in a bank's hands.

However a country's willingness to adopt new technology is very important, whether or not it's bitcoin or just a new way to pay like Apple pay and this will ultimately decide who's the long term winner. Singapore, Canada etc. are all very liveable countries as well, so i think that there is a definite correlation between cashless society and the livebility of a country as well.

Hopefully we can in the near future see some stats relating to countries using bitcoin and percentages. I'd say that at least 5% of the world population will be using bitcoin in a decade's time.

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[MingLee]

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'm not sure why you're touting full transparency and implants on citizens as good things. Especially considering that it's just giving up privacy in lieu of combating various issues like crime and making audits something that are useful for anyone aside from the top echelons of society. Those are the people that need audits, if anyone.
None of these are a good thing since you just give up power to the government and essentially just become a drone in a society that doesn't care whether or not you're replaced as long as you oil the cogs of the debt machine and society. You just become a nameless number who will live a shitty life as wages are suppressed and less care is given to you, while everything goes up in value at the same time.

And some people just want to be left alone.

[Makka]

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. 

"Blockchains that are managed by governments themselves?" Blockchains are basically there to provide us full transparency and accountability. I wonder if any government would truly want full transparency and accountability. Or if it happens, I wonder what would happen to the transparent blockchains that we know now.

Here in my place, the Freedom of Information Bill, a proposed law mandating government agencies full disclosure of all public documents, took a very long time to hurdle all the obstacles in congress. After an entire administration has passed and another takes over, the proposed law remains to be a bill.

I hope I conveyed my point well enough.

[Sadlife]

One in the best example is india, they're country has into a cashless one then ran into crypto currency as a source of income and to buy goods and services but their government prevented them from using it.  I think a cashless society will not be possible in the next 20 years governments and bankers will stick with their cold hard cash as long as people need it and it is an easy way for these business man to make profit. Unless bitcoin becomes widely known people might consider using and try to learn it some countries wouldn't to accept it because they fear of its volatility.

[Moh ian]

Menurut saya bukan masalah kalo manusia tanpa uang, contohnya jaman dulu waktu belum ada mata uang sama sekali, manusia juga masih hidup dan berkembangbiak, mereka masih bisa hidup lewat pertukaran barang.

[KnightElite]

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. 

The block chain technology is really very awesome. I imagined that in the future most of the people are now using bitcoin as world digital fiat that can use in our daily lives. I'm sure that in the near future it will really happen.

[Kyraishi]

One in the best example is india, they're country has into a cashless one then ran into crypto currency as a source of income and to buy goods and services but their government prevented them from using it.  I think a cashless society will not be possible in the next 20 years governments and bankers will stick with their cold hard cash as long as people need it and it is an easy way for these business man to make profit. Unless bitcoin becomes widely known people might consider using and try to learn it some countries wouldn't to accept it because they fear of its volatility.

Agreed. If the Indian government did not have capital restrictions then bitcoin would certainly be reigning right now in India. I think that the main reason that PayTM was successful because the government was supporting it. The cash crunch that was experienced in India was probably a great opportunity to bitcoin or any other altcoin to step up.

Moving towards cashless for a lot of countries is already happening but for others is still a very very hard task to do. For example China is still very cash dominant even though there is Alipay and Wechat pay. In other asian countries like Vietnam and Cambodia there is virtually no one using any sort of instant payment service, every single transaction is cash.

What it would look like would in my opinion pretty much be the same as what it would look like now. Unless people start using cryptocurrencies, moving towards cardless apps like apple pay does nothing to solve the problem of centralization.

[hendra1988]

Actually there is also a point we can assume that in the future is rarely found money in the form of physical. But we also need to note if there is no physical money then we will also be confused, because we must be online for 24 hours nonstop and we continue to watch our smart phone also to conduct transactions, you can imagine we have to bring a battery that can supply smart phone or gadget We continue to flame, of course it can be troublesome us.
On the other hand see in terms of geography of each country is different. This regulation creates some gaps as well as the lack of electricity or internet that is still not / difficult to find in this area. On the other hand we also notice from the pattern / lifestyle of each society is also different. Like a middle-aged person who still does not know what bitcoin and function. Still difficult to teach them.
Therefore there is a positive and negative form if we follow the trend that no longer found the form of physical money.

[oktana]

Actually there is also a point we can assume that in the future is rarely found money in the form of physical. But we also need to note if there is no physical money then we will also be confused, because we must be online for 24 hours nonstop and we continue to watch our smart phone also to conduct transactions, you can imagine we have to bring a battery that can supply smart phone or gadget We continue to flame, of course it can be troublesome us.
On the other hand see in terms of geography of each country is different. This regulation creates some gaps as well as the lack of electricity or internet that is still not / difficult to find in this area. On the other hand we also notice from the pattern / lifestyle of each society is also different. Like a middle-aged person who still does not know what bitcoin and function. Still difficult to teach them.
Therefore there is a positive and negative form if we follow the trend that no longer found the form of physical money.

Bitcoin can only be applied slowly, if we think about instant deployment may never find the solution, just like the smartphone you have today, this technology is able to control the world even though there are still many who can not access it, and they finally fall into the category of lagging group .

Our future possibilities will only use the digital currency is true, but still will not eliminate the physical currency, demand deposits, and important documents. In this case developed countries are always at the forefront.

[Amph]

i'm not very sure about the possibility of reducing criminal activity, if anythign with bitcoin criminal activity are increasing, but other than that the thing that are certain, with full adoption, is that bitcoin would allow for less cost overall

One major financial problems we have in all our society is criminality and greedy. Bitcoin and others crytocurrency can resolve this problem by using this great technology to reduce crime and criminality. Cashless society do reduce physical attach on attempt to get fiat from the owner.

Cashless society will be more controlled by the government. It's bad. If people would speak out against the government is enough to turn off the Internet and people will not be able to even buy food. The more non-cash the greater the demand will be for gold.

not if you use bitcoin, which is the reason of this topic, and the government can't turn off the internet, it doesn't work like that, there are law that are above what the government can do, unless you live in a dictatorial regime country

[azguard]

Bitcoin cn be used for this cashless socieaty, but we are far from it and we stll need lot of thing that need to be done. We are starting to use more and more cashless transaction but we will need lot more for this (to be like in star trek movies  ).

[deisik]

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

I guess you should first explain why governments would ever want that in the first place

If the question is about a centralized currency, governments already have fiat and they don't need blockchain to create new money. In fact, the way in which new fiat money is created nowadays is by far more efficient and economically reasonable than any blockchain technology could ever be. If the question is about a decentralized currency, how government is going to control it and how would it be different from a pile of altcoins we already have?

[pecson134]

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. 

This would be one of the best thing the could ever happen and I would like to be implemented.They should do a card type or a internet based payment which can be use to pay any kinds of transaction. But I think this is not that possible on the current market status since there were still establishment(small ones) that are not yet using computers as a sort of payment and still on the traditional method such as paper cash or items in exchange.

[matuson]

Bitcoin cn be used for this cashless socieaty, but we are far from it and we stll need lot of thing that need to be done. We are starting to use more and more cashless transaction but we will need lot more for this (to be like in star trek movies  ).

Until bitcoin is not recognized currency at the official level of the transaction with bitcoins cannot be considered as non-cash settlements. This exchange transaction. I like it. It turns out it is an offshore zone for Internet users.

[hatshepsut93]

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. 

Why would governments need to put their fiat currencies on blockchain? It's very inefficient, the whole point of blockchain technology is immutability, which is the opposite of what government wants - control and regulation. In my vision of the future, digitalization of currencies will lead to increased control over population, right now governments can't easily track your cash spendings, which is why cash is used by criminals, black markets, bribes, etc. But in a cashless world it will be impossible to do any non-monitored transactions, unless you are using crypto. Which leads to a thinking, that crypto will be outlawed as "criminal money".

[deisik]

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.  

Why would governments need to put their fiat currencies on blockchain? It's very inefficient, the whole point of blockchain technology is immutability, which is the opposite of what government wants - control and regulation. In my vision of the future, digitalization of currencies will lead to increased control over population, right now governments can't easily track your cash spendings, which is why cash is used by criminals, black markets, bribes, etc. But in a cashless world it will be impossible to do any non-monitored transactions, unless you are using crypto. Which leads to a thinking, that crypto will be outlawed as "criminal money"

That's an unlikely event

Even if we assume that there are no cryptocurrencies and governments outlawed (abandoned) cash completely, that wouldn't stop all that criminal activity (black markets, bribes, drugs, etc) from going on. If there were no cash, criminals would use gold, silver, diamonds and whatnot as a means of transferring value. That's basically why it makes no particular sense to get rid of cash money just because of the fact that cash is so widely used by criminals of all shades and colors

[cpfreeplz]

  lol I've been cashless for the past 10 years by choice. Who caries around $100 bills to walmart in 2017?! I'd love it if they'd just accept bitcoins but they have their walmart to walmart payments to try and compete with bitcoins so they won't be accepting them anytime soon.

If there is no cash anywhere (which let's be honest, some people will hang onto cash or silver or gold or whatever to trade with other deadbeats on craigslist) people will just start to use more anonymous currencies like Monero,Dash, Bytecoin, BlackBytes etc. There are so many to choose from already that there will be some obvious currencies in the future that you would use to purchase illegal things or do your shady criminal activities.

[Xester]

It is exciting to think of how a cashless society would be like.  No fear of getting robbed or lose your cash if all the money will be processed online.  But the problem would be the stability of internet connection.  And what if a calamity strikes, electricity gone. That would be a chaos knowing that no one can buy and sell and no way to transact.

[ActiveP]

It could work if nationally backed blockchain  networks similar to bitcoins becomes the norm. I don't trust banks or any kind of third party entities that can freeze funds. It is imperative that individuals control their own money in a cashless society.

If you've ever had a charge declined on both of your credit cards and your debit card you become acutely aware that it isn't quite your money. You're sort of sharing it with the bank.

Yes, I've always been able to prove who I am but it is not too hard to imagine a more pervasive identity theft situation where the bank doesn't believe you. What then? Your life is effectively over.

I like the idea of a cash free society but the practical problems of implementing it are really daunting.

[xFiber]

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 that in the future we will see a blockchain based crytocurrency (hopefully bitcoin if the scaling works out and we can implement instant transactions over time). Maybe we will be able to pay with our fingers or even our iris (fingerprint would be more convenient).