Cashless society

[ekoice]

I think that cashless society is far away from reality.Even most developed countries like US has not implemented it and still allow paper currencies in circulation.Unless,illiterate people are there,cashless society is not possible.Even the older generation people too face difficulties in using digital transactions.Cashless society could not be brought in to action in countries where internet is not widely available.

Even in india,it was tried by the present government to bring cashless society and it just failed and also,it totally made indian economy to collapse.Even the GDP rate has gone down from 7% to just 5.6%.It has become a great lesson for other countries.

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[Shenzou]

We are already in a cashless society, i mean practicly all people use credit card now and all poeple use online transaction wether for shopping work  or even food, we don't have the need to put paper money in our wallet again every thing has become digital, but what this has to do with bitcoin is that it is an alternative way for the same thing but more practical and more safer to use, so now when you use your money or bitcoin to buy stuff on any site you don't have to be afraid that you are going to get hacked or none of the security probelms, in fact some of the main stream sites are already adding bitcoin to thier payment methods, and this encourages more and more poeple to get involved in bitcoin and thus making the worl more and more cashless.

[d.mas]

A cashless society describes an economic state whereby financial transactions are not conducted with money in the form of physical banknotes or coins, but rather through the transfer of digital information (usually an electronic representation of money) between the transacting parties

Usage of Bitcoins will lead to a cashless society in the near future and it will be the greatest part of the cashless society

[Geeta1207]

I do believe that cryptocurrency will coexist with that of the digital currency but I cannot see this happening in the near future as so kany people don't even know about cryptocurrencies at the moment.

[kimochidesh]

I don't think there would totally cashless society for at least 2050. A lot of people who are still not aware of banking facilities and don't know how to use these banking services. Backward countries don't have internet facilities so being cashless is totally meaningless for them.
Cashless and BITCOIN are a totally different concept as one is centralized and other is decentralized. People are using BTC not just being digital but due to features like the privacy of transaction.

[santino11]

this will happen sooner or later ! we can feel the process anow and in just few years more this will be on 100% true and nothing can stop it ! FIAT will be FIAt but the  main cuurrency will be crypto

[swetka]

this will happen sooner or later ! we can feel the process anow and in just few years more this will be on 100% true and nothing can stop it ! FIAT will be FIAt but the  main cuurrency will be crypto

in relation to the fact that the main currency will be a crypto currency, you can argue a little, because most people will not be able to use the digital currency. The fact is that this requires not only knowledge but also education. And also you understand that the lack of availability of certain technical means, carries the difficulty for using crypto currency. Therefore, bitcoin or other alternative coins will be used only in certain circles and in a certain sphere, while the fiat will be in its place.

[Deathgamer]

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. 

Cashless society,in my own point of view its bettee to habe a cashless society because it will lessen the crime in hold up and other criminal cases that involves money.in a cashless society i think all your bills can be paid to online or through credit or debit cards and i think it is really better than bringing money for shopping because it is more convenient for me.

[pendekar cinta]

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. 

may be at any time will be realized it but some residents will accept it including people who know about bitcoin transaction systems  while the layman must have specifications to keep using official money from a country in conducting a series of transaction activities.

[stackholio]

We are still a long ways away from a cashless society (minimum 10 years in the United States, much much longer globally) in my opinion. We are well on our way but many many industries still rely on cash (the service industry especially). There needs to be an incredibly strong initiative to pay digitally/with crypto and the ability to acquire digital cash should be seamless. TenX is a good start to this but there's a lot more work to be done in terms of onboarding.

[SixOfFive]

It is not feasible to make society totally cashless. There are large ratio of people around the world who are totally handicap towards technology as they illiterate and don't know how to use gadgets or Internet. Moreover INTERNET services are not expanded to remote areas of the world.

[Allan Ramanda]

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. 

may be at any time will be realized it but some residents will accept it including people who know about bitcoin transaction systems  while the layman must have specifications to keep using official money from a country in conducting a series of transaction activities.

I agree with you, everything can happen, but it takes a very long time, because not all people who understand the digital world, coupled with the government that can not control bitcoin completely

[izumaki]

this would be a very promising move if our society evolved to a stage and situation where we can no longer depend on physical cash to do any form of transactions, the problem is if we Are already evolved into that phase in our lives.

[Pixyoxx]

I think the theory of co-existence will work in future. Governments will also have their own digital platforms, along with pre-existing ones. Bitcoins wont be ignored because it has large user base which cannot be set aside. Thus digital currency will co exist in association to decentralized as well as public owned currencies.

[pieppiep]

Even if people are not using bitcoins or not aware about bitcoins we are heading towards cashless society where people prefer to pay with debit/credit cards at a moment and when they will come to know about bitcoins I am sure many people will start using bitcoins for making payments.

[stomachgrowls]

Even if people are not using bitcoins or not aware about bitcoins we are heading towards cashless society where people prefer to pay with debit/credit cards at a moment and when they will come to know about bitcoins I am sure many people will start using bitcoins for making payments.

Theres a possibility since we are evolving when it comes into technology when there would really be a point on where theres a proposal for such cashless society which would decide up to make things digitalized specially on monetary system. People will surely be forced to adopt it because government do really require but i would say this kind of adjustment would really takes time since not all people do really have the knowledge on such digitalize things.

[frmracc]

Even if people are not using bitcoins or not aware about bitcoins we are heading towards cashless society where people prefer to pay with debit/credit cards at a moment and when they will come to know about bitcoins I am sure many people will start using bitcoins for making payments.

Theres a possibility since we are evolving when it comes into technology when there would really be a point on where theres a proposal for such cashless society which would decide up to make things digitalized specially on monetary system. People will surely be forced to adopt it because government do really require but i would say this kind of adjustment would really takes time since not all people do really have the knowledge on such digitalize things.

We are go to that era though, cashless society. Maybe it will takes 5-20 more years to become cashless society. Big country like japan and south korea who have a good technology will become the first country that not use any paper/coin money and USA too of course.

[pitham1]

Even if people are not using bitcoins or not aware about bitcoins we are heading towards cashless society where people prefer to pay with debit/credit cards at a moment and when they will come to know about bitcoins I am sure many people will start using bitcoins for making payments.

Theres a possibility since we are evolving when it comes into technology when there would really be a point on where theres a proposal for such cashless society which would decide up to make things digitalized specially on monetary system. People will surely be forced to adopt it because government do really require but i would say this kind of adjustment would really takes time since not all people do really have the knowledge on such digitalize things.

We are go to that era though, cashless society. Maybe it will takes 5-20 more years to become cashless society. Big country like japan and south korea who have a good technology will become the first country that not use any paper/coin money and USA too of course.

It is not just technology. It is the attitude of the people. In a country like Germany, which is highly technologically advanced, there is a greater preference for cash. People value the privacy that cash affords them.

[cmacwiz]

Today's society is modern society. Everyone choose easy and reliable way to live their lives. Like this in the matter of money they choose same way. So todays world moving forward with the cashless method. Although it is easy to use and trustable. People use debit card, credit card, visa card, paypal account for their money transaction. Many people using bitcoin as a source of online transition. You can access it anytime anywhere and in any device. Country  like Japan doesn't use a single paper money for trading, buying  goods. In case of America  they almost usinv cashless method. But in case of developing countries like India, Pakistan, Bangladesh etc. They need time to create a cashless society.

[ripti]

Many preconditions for cashless society have already been fulfilled but still it's not easy to transfer our finances just like that. However governments focus on digital growth​ cashless society is simply an impossible tax. This is possible, but this would be implemented by the governments.