Cashless society

[Abiky]

Creating a cashless society is simply a hard task, because right now very few countries have got majority of the people with good educational base. To create an entire system function on cashless manner education or people to be with knowledge is a must. So this is possible in selected first world countries.

You do have a point there mate. The only countries that may have access to a cashless society, are developed ones leaving third world countries out of the equation. Also, not every region of the world has access to the internet, so it will make it even harder nowadays for a cashless society to come into effect.

However, all of this may change if a solution for a worldwide internet comes into place, like Satellites which deliver the signal for the masses to get access to the same. In addition, manufacturers may decide to create special edition budget smartphones or a similar device for third world countries, which would allow them to get access to a cashless society.

Therefore, the possibilities are endless and it would only become a matter of time before worldwide governments decide to implement this system to increase efficiency, security, and protect the environment. Just my opinion.

[1715283725]

1715283725

[Pisrem29]

I agree with you, even it reminds me of Guardians of the galaxy movie, when they pay each other with an intagible currency. So you're not crazy at all, the problem is that i think for this to happen we still need much time.

[gabmen]

I agree with you, even it reminds me of Guardians of the galaxy movie, when they pay each other with an intagible currency. So you're not crazy at all, the problem is that i think for this to happen we still need much time.

Much much more time. Perhaps not even in our generation if we are to talk about going cashless entirely. The technology for using this probably is still at an early stage and the problem is how to impliment this to places gat are hard to reach.

[flower1024]

Creating a cashless society is simply a hard task, because right now very few countries have got majority of the people with good educational base. To create an entire system function on cashless manner education or people to be with knowledge is a must. So this is possible in selected first world countries.

You do have a point there mate. The only countries that may have access to a cashless society, are developed ones leaving third world countries out of the equation. Also, not every region of the world has access to the internet, so it will make it even harder nowadays for a cashless society to come into effect.

However, all of this may change if a solution for a worldwide internet comes into place, like Satellites which deliver the signal for the masses to get access to the same. In addition, manufacturers may decide to create special edition budget smartphones or a similar device for third world countries, which would allow them to get access to a cashless society.

Therefore, the possibilities are endless and it would only become a matter of time before worldwide governments decide to implement this system to increase efficiency, security, and protect the environment. Just my opinion.

Your point is right I agree that all are not educated and if the government implement this cashless method, they will suffer a lot. I have one point if we not implement now then it will never implement because in all generation we will see an uneducated people. If you wait for right time to implement that time will never come. So my suggestion is first to implement and when people will suffer to do a transaction they only learn how to do the cashless transaction. If you do not make strict rule, then we will never see cashless society. 

[hdclover]

bitcoin is cashless and the world will adopt it , keep your bank notes they will be rares in few years to come.

[trusturrazor62]

Some countries are prepared for this change, but that can't happen instantly. A long process is needed and not all people in different societies can afford a system like this.

[Dimelord]

Its very hard to turn the whole world into a cashless society.In most of countries,many people still don't have a bank account and they don't even have a debit or credit card.They don't know any thing about digital transactions.They only know the paper money as real money which they could see and feel.Even indian government tried to make people shift to digital transactions by devaluing high value currencies,but of no use people just felt comfort in using paper currency itself.So,its hardly impossible at this time to create a cashless society.

[Invester]

We are heading toward this age. A cashless society will be happening in the future. However, it might not really be in sight. The world is highly imbalance. Some are very high-tech and modern and developed while some cannot even find a way to look for a really potable water. A cashless society is a society of the future. Not this age however.

[Basspsalmer]

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. 

If the cryptocurrency or digital fiat currency dominate real money. It is possible to have that society that doesn't need physical money to transact with others. There is also advantages that it may lessen the criminal records on theft because cryptocurrency is not hand-held. It is easy to trade and do things.

[pitiflin]

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 is only possible in the next generation because many people don't believe that digital fiat exists and its just people trying to scam them and waste of time and list goes on and on and on... The normal people believe in what they see when it comes to their belongings i.e. they believe in cash and gold and other precious items because it is tangible , its worth a lot and cryptos are intangible which makes them think otherwise. But then cashless society is a interesting and sounds fascinating ,it would be even better when its implemented,and would love to see how people are gonna react.

[hashtag101]

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. 

If the cryptocurrency or digital fiat currency dominate real money. It is possible to have that society that doesn't need physical money to transact with others. There is also advantages that it may lessen the criminal records on theft because cryptocurrency is not hand-held. It is easy to trade and do things.

But this future can't become true soon. Maybe need 10-30 years for new age maturity, and the economic in most country are good can provide internet network coverage all the world's.

[basyang]

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. 

     In my opinion, it will be hard to implemented the cashless society even though bitcoin will have many advantages, it will be long debated to the government if cashless society will applied. Many people will disagree about it because they likely to use physical fiat rather than a digital fiat. Most of the people is likely to use cash because it is capable to use and it is easy for buying.

    Some people did not know bitcoin and it will hard to senior citizen to use a digital currency because of there age and there awareness about it. 

[Shamie1002]

I think  its not necessary.  Yes, bitcoin is digital currency and definitely a decentralized one. But if we will think about it, keeping currency in Crypto wallets is not as accessible as we think it is. Without Fiat money or tangible currency we can not but things in instant. It is electronic dependent.
Let us say there are ATMs now is some places but in order to buy something like a candy is hard especially to those who are in a soceity that markets do not accept bitcoin as payments.

[Abiky]

Your point is right I agree that all are not educated and if the government implement this cashless method, they will suffer a lot. I have one point if we not implement now then it will never implement because in all generation we will see an uneducated people. If you wait for right time to implement that time will never come. So my suggestion is first to implement and when people will suffer to do a transaction they only learn how to do the cashless transaction. If you do not make strict rule, then we will never see cashless society. 

Agree. We would need to implement this with the use of cryptocurrencies to educate as much people as possible, to help advance a cashless society in the future. Without proper education, people won't be aware of how cashless transaction works, and perhaps we may not experience a society that would become free of physical fiat currencies because of this matter.

But, as governments and banks work on exploring the blockchain, a cashless society may be prone to come in a couple of years from now. It may take quite some time as there are several regions of the world where there is no internet access, but I believe that a solution would come up for this to help a cashless society become a reality. Just my thoughts

bitcoin is cashless and the world will adopt it , keep your bank notes they will be rares in few years to come.

Agree. As Bitcoin's popularity is rising, it will become used in the mainstream world and a lot of people will adopt it. At some point in the future, there may only exist cryptocurrencies alongside with digital fiat currencies. So physical banknotes will become a thing of the past, and perhaps those who hold onto them now, might benefit in the future as they become a rare and valuable commodity.

[blue_dragon]

Abiky i believe a paper currency less society is possible but not in the recent future. First of all this will require universal free internet access which will not be possible until probably thirty years time that is even if the developed world is ready to make sacrifice to help the less endowed get to that le

True! In fact not everyone in this world have embraced this current digital age I think its kinda unfair if we do that, merging those currencies are like to happened not a cashless world, if that happened it will lessen thieves but increases hackers, it worsen the scenario.

[SacriFries11]

Have you ever wondered how would the world's economy be like in the future as a cashless society? After reading this question, I started to wonder. In my opinion, yes there could be a cashless society but not totally cashless.
Well there are ATMs, credit card that are now use to pay in groceries or in shopping malls. If there happens a cashless society, yes you have point that “it would radically transform our lives for the better”. But, “reducing criminal activities” will not be possible. Bad persons, like hackers will do everything just to get your money especially if it is a very big amount.

[santieevanz]

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. 

For now, i can say cashless society might happened for 30-40 yrs because some other people don't even know the existing digital fiat and if ever they know about bitcoins, some people might think of the bad possibilities that will happen to their account like being hacked. So i guess, cashless society is kinda awesome but still not adoptable today or even after 25 years.

[bs.glory]

Progress in financial economics theory has led to the creation of
new markets that trade dematerialised derivatives of traditional products such as
foreign exchange, interest rates or equity portfolios. Derivatives markets, futures,
options, swaps, etc. have dramatically expanded the notions of tradability and risk
management. They are growing more rapidly than cash markets in the underlying
instruments.
The financial markets explosion is information-driven. The globalisation of
the economy and the increasing variety of economic transactions create greater
uncertainty and thus generate a strong and continuous demand for information.
Financial markets are a web of conduits for displaying and exchanging such information.

[JoMarrah Iarim Dan]

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. 

Yes I wondered since I knew about bitcoin and other digital currencies. Before I only knew about paying using cards in shopping malls that I only watch in TV. Rich people easily adopt this. But for the cashless society, I think it is not possible for now, since much more goods and services are paid using cash. If cashless society happens, meaning there is a very big improvement to a country or worldwide. Yes it will transform our lives but I don’t think it is be all for the better.

[kupido14]

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 dont think so, for that to be implemented We must have free worldwide internet which too impossible for the future to happened probably because no one will sacrifice his million dollars just for the people worldwide to use free internet to access cashless transactions.