Cashless society

[mrfreezeh]

I do not want to be under control of a government and for that reason I don't want cash to be abolished.

I think its quite the opposite dude. A cashless society run through crypto cannot be controlled by either governments or banks. The current fiat system is centralized and controlled so what youbwould want here is a system run through cryptocurrencies

So it must be in the ideal case. In fact, we see a completely different picture. People have turned bitcoin into a means of accumulation. It can kill any currency and if the situation does not change then we will see the collapse of the bubble in bitcoin which is converted.

Actually, in this year, most new investor in Bitcoin market are speculator and they will create new trend for people have a lot of money putting their money to Bitcoin just for holding and get rich. But this definition is wrong and they don't understand do that just make the time breakdown bubble growth Bitcoin soon.

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[Abiky]

Now a day’s a lot of countries are beginning to apply cashless now a day’s earning money is difficult and very expensive to make paper money so several countries implements cashless society, I agree with the word cashless but I think bitcoin can solve the problem of ceaselessness because the cashless society is actually a bit coinless society so every cashless society needs to know bitcoin first. 

Agree. Bitcoin is the principle for a cashless society to go into effect into the world of tomorrow. For this to become a reality, people would need to gain proper knowledge about the use of Bitcoin and other cryptocurrencies, before governments could start rolling in their digital fiat currencies for mainstream usage.

But, as Bitcoin and other cryptocurrencies gain traction, the more people and businesses would join, leaving no choice but for governments to start exploring the technology towards making a blockchain based digital fiat currency of their own. Once internet access becomes global, then the chances of a cashless society to become a reality, will be higher opening up new possibilties towards changing our life for the better. Just my thoughts

[The_Dark_Knight]

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.

How exactly bitcoin can reduce crime rate and make society less greedy? Bitcoin is a hot topic in the mainstream media and it is presented as new tool criminals are using.
Bitcoin is not perfect remedy created to battle crime, reduce poverty or make people less greedy. It simply won't work.
Cashless society = digital fiat when your every step is recorded and tracked by government, it is not about decentralized cryptocurrency.

Yes, decentralization might lead to ultimate centralization.... irony.

I think that at the moment we are at a crucial point in the history, two massive forces are clashing in one side we have all kind of services and governments that want to centralize the information and as such the power and in the other we have other forces like the internet, bittorrent and bitcoin struggling for the opposite, which side wins will shape humanity forever.

It partly depends what you mean by "win." If BTC becomes highly regulated, with ETFs and banks offering bitcoin banking services and KYC every which way, have the forces of centralization won?

It seems like this is the direction we are heading, and I'm torn regarding what it means. How will the world react if we start pushing forward with things like confidential transactions and other privacy-enhancing features? Could inputs that have participated in these practices be blacklisted by regulated exchanges and banks someday?

Obviously that will not be a win for the decentralization forces, however one of the great advantages that we have is that is easier encrypt than is to decrypt at some point encryption is going to be so powerful that not even using all the energy of the universe will be enough to decrypt something without the key, at that point encryption at that level may become illegal and then people will begin to hide the fact they encrypted anything.

[Stingray1970]

I do not want to be under control of a government and for that reason I don't want cash to be abolished.

I think its quite the opposite dude. A cashless society run through crypto cannot be controlled by either governments or banks. The current fiat system is centralized and controlled so what youbwould want here is a system run through cryptocurrencies

No it's not the opposite. For coins like Bitcoin yes (until the govs rule them out in one way or another), but on the level of fiats going totally digital, this is a serious danger. For example :
- you smoke, the govs are of the opinion that smoking is bad for your health, the do not let you pay anymore for it with your money which they can easily do in a cashless society.
- you want to save and the govs don't want you to save, so they raise negative interests in order to make you spend. Right now, you can always convert  your money to cash.
....

Bad idea.

[azguard]

I do not want to be under control of a government and for that reason I don't want cash to be abolished.

I think its quite the opposite dude. A cashless society run through crypto cannot be controlled by either governments or banks. The current fiat system is centralized and controlled so what youbwould want here is a system run through cryptocurrencies

So it must be in the ideal case. In fact, we see a completely different picture. People have turned bitcoin into a means of accumulation. It can kill any currency and if the situation does not change then we will see the collapse of the bubble in bitcoin which is converted.

Actually, in this year, most new investor in Bitcoin market are speculator and they will create new trend for people have a lot of money putting their money to Bitcoin just for holding and get rich. But this definition is wrong and they don't understand do that just make the time breakdown bubble growth Bitcoin soon.

Yes but isn't new trend its here from the begging and constantly growing every year little by little. Bitcoin is good in any way and as such better is to keep it like it is. Everyone wants to get rich with bitcoin that is no doubt that bitcoin will get everyone who invested little bigger richer.

[justspare]

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.

How exactly bitcoin can reduce crime rate and make society less greedy? Bitcoin is a hot topic in the mainstream media and it is presented as new tool criminals are using.
Bitcoin is not perfect remedy created to battle crime, reduce poverty or make people less greedy. It simply won't work.
Cashless society = digital fiat when your every step is recorded and tracked by government, it is not about decentralized cryptocurrency.

Yes, decentralization might lead to ultimate centralization.... irony.

I think that at the moment we are at a crucial point in the history, two massive forces are clashing in one side we have all kind of services and governments that want to centralize the information and as such the power and in the other we have other forces like the internet, bittorrent and bitcoin struggling for the opposite, which side wins will shape humanity forever.

It partly depends what you mean by "win." If BTC becomes highly regulated, with ETFs and banks offering bitcoin banking services and KYC every which way, have the forces of centralization won?

It seems like this is the direction we are heading, and I'm torn regarding what it means. How will the world react if we start pushing forward with things like confidential transactions and other privacy-enhancing features? Could inputs that have participated in these practices be blacklisted by regulated exchanges and banks someday?

Some day will be in they way like this, but for now this is good concept and there are things that need to be done if this is what they want to be success.
Off course every change has to  be well prepared but this is partially semi done. We are doing most of the things in bank and like someone mentioned here it more digital now there is no way that in the world there is that amount of money printed.

Yes, it is true that the world is gradually moving towards cashless society because now the use of plastic money, online transactions etc are very common. But definitely to bring this big change, we need some more improvements and time to make digital systems flawless. I can see the digital future easily.

[WatchMaker]

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. 

Bitcoin is digital which makes it best option for the cashless economy. Bitcoin is decentralized and faster in terms of transaction online.

[azguard]

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.

How exactly bitcoin can reduce crime rate and make society less greedy? Bitcoin is a hot topic in the mainstream media and it is presented as new tool criminals are using.
Bitcoin is not perfect remedy created to battle crime, reduce poverty or make people less greedy. It simply won't work.
Cashless society = digital fiat when your every step is recorded and tracked by government, it is not about decentralized cryptocurrency.

Yes, decentralization might lead to ultimate centralization.... irony.

I think that at the moment we are at a crucial point in the history, two massive forces are clashing in one side we have all kind of services and governments that want to centralize the information and as such the power and in the other we have other forces like the internet, bittorrent and bitcoin struggling for the opposite, which side wins will shape humanity forever.

It partly depends what you mean by "win." If BTC becomes highly regulated, with ETFs and banks offering bitcoin banking services and KYC every which way, have the forces of centralization won?

It seems like this is the direction we are heading, and I'm torn regarding what it means. How will the world react if we start pushing forward with things like confidential transactions and other privacy-enhancing features? Could inputs that have participated in these practices be blacklisted by regulated exchanges and banks someday?

Some day will be in they way like this, but for now this is good concept and there are things that need to be done if this is what they want to be success.
Off course every change has to  be well prepared but this is partially semi done. We are doing most of the things in bank and like someone mentioned here it more digital now there is no way that in the world there is that amount of money printed.

Yes, it is true that the world is gradually moving towards cashless society because now the use of plastic money, online transactions etc are very common. But definitely to bring this big change, we need some more improvements and time to make digital systems flawless. I can see the digital future easily.

To think that it look easy is something else but that kind of future is far from becoming reality at any point in some upcoming period. Hard it will be for all government to accept bitcoin just as bitcoin and not to mentioned the technology. We need to be one step at the time never rush things always end up with the disaster. Think that most government are afraid cuz this might happen.

[richmcrich]

There have been a lot of people who have been pioneers of the cashless society issue, but the cashless society though helps its also helping to enrich some people who are on top of the matrix, for every transaction made you get to pay transaction fees always

[jostorres]

I do not want to be under control of a government and for that reason I don't want cash to be abolished.

I think its quite the opposite dude. A cashless society run through crypto cannot be controlled by either governments or banks. The current fiat system is centralized and controlled so what youbwould want here is a system run through cryptocurrencies

So it must be in the ideal case. In fact, we see a completely different picture. People have turned bitcoin into a means of accumulation. It can kill any currency and if the situation does not change then we will see the collapse of the bubble in bitcoin which is converted.

Yes, this is the latest trend in the crypto market that people have started treating bitcoins as lifetime assets than as a currency which is very much unfair with newcomers. Bitcoins should be used in trading so that they keep circulating and people don’t lose interest in bitcoins.

[SirLancelot]

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. 

Bitcoin is digital which makes it best option for the cashless economy. Bitcoin is decentralized and faster in terms of transaction online.

Bitcoins are ideal for the cashless society again that is only possible in ideal world. Looking at things with realistic approach, we come to know that there are 3rd world countries and they are part of our society. Cashless society can be created only in the developed countries.

[filharvey]

Cashless society is very hard to implement.It was already tried in india and it failed to deliver the expected results.Instead,it ruined the indian economy and its GDP rate fell from 7% to 6.1%.There are still lots of illiterate people who don't know about digital transactions and also internet is needed to make digital  transactions.Internet is not widely available every where.Even advanced countries like US still have not completely changed to cashless economy.So,it could not be made.

[cryptojac17]

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. 

Bitcoin is digital which makes it best option for the cashless economy. Bitcoin is decentralized and faster in terms of transaction online.

Bitcoins are ideal for the cashless society again that is only possible in ideal world. Looking at things with realistic approach, we come to know that there are 3rd world countries and they are part of our society. Cashless society can be created only in the developed countries.

Cashless society as we speak today is still hard to implement totally because transformation of this is lot of thing to do like how to educate people who live in the rural areas were internet is not accessible those people are also belong to the market place, the infrastructure and the system that we should build for these purpose and lastly security measures that we should implement to secure the system from hacker. But we are transforming toward these kind of society like the credit card company in which digital transaction being use, the disadvantages for these is only those company would be benefited in these scheme because of high charges.

[Pattart]

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 would be awesome with our society being cashless, no more lost cash because we dropped it. No more wallet snatched because we will have digital wallets. But among those advantages there will aways be a disadvantages like hackers will try to easily hacked all our money and steal all our investment and savings but I know there will always be a way to avoid that thing lets just not thing about that future, let that future come to us.

Indeed, since we are now in technology era everything is possible, we can now pay just tapping or swiping our cards so its also possible in btc soon. Many were using some btc apps now for transactions in buying some stuffs so we can already see thay it can happen soon.

Of course cashless society may occur, would be very easy to make transactions when cashless really happened. But I do not think that will happen in the near future. Maybe you can see a lot of people who already use digital currency like bitcoin, or you've seen many people who use cashless like credit cards. But you should know that there are still so many even hundreds of millions of people in the world still classified as poor and they are technologically blind. Of course they would not agree if cashless society occurs

[bubblebit]

In the future, as I believe there won't be bitcoin when we're talking about 50 years or so from now. New cryptocurrency will emerge and replace bitcoin in its place but the Blockchain teachnology will remain. Why? When we point on generation as the big factor for every gen has tendency of being in satisfied for old ones. But don't worry much, as that generation will make a new one with more stable and with unlimited source not like bitcoin.

It will be introduced soon and the government of each country adapt to it more faster. Those cashless transactions will be possible at that phase of modern day living. Let just put this as my own predictions and opinion.

[futuret]

In the future, as I believe there won't be bitcoin when we're talking about 50 years or so from now. New cryptocurrency will emerge and replace bitcoin in its place but the Blockchain teachnology will remain. Why? When we point on generation as the big factor for every gen has tendency of being in satisfied for old ones. But don't worry much, as that generation will make a new one with more stable and with unlimited source not like bitcoin.

It will be introduced soon and the government of each country adapt to it more faster. Those cashless transactions will be possible at that phase of modern day living. Let just put this as my own predictions and opinion.

bitcoin uses is increase and soon bitcoin will make the world cashless. Soon the every well developed countries will become the cashless society in the world because the advantages of the bitcoin is more higher than the cash it is more secure and it has a lot of profit for the users. A lot of cash investors are now afraid of the bitcoin. Soon bitcoin will become more popular ant they will also become bitcoiner.

[panju1]

Cashless society is very hard to implement.It was already tried in india and it failed to deliver the expected results.Instead,it ruined the indian economy and its GDP rate fell from 7% to 6.1%.There are still lots of illiterate people who don't know about digital transactions and also internet is needed to make digital  transactions.Internet is not widely available every where.Even advanced countries like US still have not completely changed to cashless economy.So,it could not be made.

A cashless society will have to be implemented in a country with high levels to technology penetration Trying to implement it in a country like India where even literacy is low is a recipe for disaster.

[Ilegendph]

Well, recently the US began exploring the potential of blockchain technology, which may exist a possibility of the dollar having its own private blockchain in the future.

Besides US many other countries are developing or they are in process of developing private blockchains for there own currencies. This is bad in my opinion, cuz we already have good and working blockchain. I dont see anything that will trigger this to be in some bigger motion. Maybe they are trying to create cuz they can control it, cuz current one they can not, I mean on all governments on this.

They will stick with the current system, blockchain also have its disadvantages especially the scalability problem. I can say that if the whole US forced to use dollars based on blockchain system, there'll be many issue.
As you can see yourself to what happened to ETH and BTC after these traffics are on its peak.

The problem with a blockchain system is that it uses chronological system. You cannot transact simultaneously. Just try to imagine how many transaction are occuring everyday and your system is in chronological. It would take time before the last transaction would be encode in the ledger. You would need a very large hash power to achieve this kind of system in a country.

[Rebisco]

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 the cashless society that we are imagining is will become true. We all know that the bitcoin has really potential and for sure most of the people in our society will accept the bitcoin as our daily payment.

[emezh10]

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. 

Probably, the creation of digital fiats can happen if and only if the technological factors affecting the type of currency will be put up into a higher level enabling many people to have a wide access to online fiat which can be in terms of cryptocurrency. What I mean is if the world with the collaboration of the national government will increase the capacity and capability of internet everyone can have an easy access if they will create digital fiat. But I think it will take time and too much work for the innovation of transforming the society into a cashless society because there are lots of issues to be cater than paying attention of putting the world into that innovative and advance world.