Cashless society

[Pattart]

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.

Therefore cashless society will not happen in the near term mate, it will probably take several decades again, perhaps until the present era now, has become an old age in the future tomprrowa and when that happens, maybe all transactions will be online and digital, maybe I've been a old man in that year lol

[rohn]

Cashless society may happen but it will take decades or even century for that to happen. Some people are not used in using digital fiat currency and stick to cash as payment. And also there are region which don't have internet connection. It would be too hard for them to transact with the use of cashless payment.

[thend1949]

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.

Well the convenience that we will be experiencing with that type of implementation in the future will really bring a lot of advantages to the society. Even the authorities will have some eliminations of those crimes related to physical crimes like robbery and stealing of cash from one person to another. Paper money production will lessen, and maybe paper money will become and optional type of currency in the future and bitcoin will dominate the whole worlds's spending methods, well maybe it will really takes 10-20 years of development.

[Hydrogen]

Its surprising to me how many of you support cash bans.

I'm guessing many of you smoke weed or do other drugs.

Tell me. If there's a cash ban, what currency will you use to buy weed/illegal drugs?

Something as simple as buying weed would become more difficult under a cash ban.

A cash ban would diminish freedom and rights.

It would make payment systems more inflexible, rigid and less efficient.

Economy would suffer as a result.

[fanbeila]

Its very easy to say that cashless society would be good,but its very hard to make it.More people are still illiterate in some countries.They don't even have a bank account and don't know to use credit or debit cards.All they know is the paper money which they think as the real money.In india too,government tried to create a cashless society,but it failed to make as people found comfortable in using paper currencies.

[Theb]

Its surprising to me how many of you support cash bans.

I'm guessing many of you smoke weed or do other drugs.

Tell me. If there's a cash ban, what currency will you use to buy weed/illegal drugs?

Something as simple as buying weed would become more difficult under a cash ban.

A cash ban would diminish freedom and rights.

It would make payment systems more inflexible, rigid and less efficient.

Economy would suffer as a result.

But what they are supporting is not even possible. Why will you ban on your own country's currency? It is totally impossible it is like removing the wealth of your country. The funny thing is I see no benefit on transacting on a cashless basis, do you think we can buy something if there is a massive power outage with no internet? Of course not because everything is wireless which means your credit cards and Bitcoins don't exist as for that moment. Fiat currency will be there and it won't disappear.

[Rufsilf]

Cashless society is very possible because the technology are one that are leading us toward to that future because we all know that people and technology are evolving and seeing a cashless society and always depending on the internet is a very huge advantage because we can access our money within our smartphone without worrying.

[Rostadom]

Its surprising to me how many of you support cash bans.

I'm guessing many of you smoke weed or do other drugs.

Tell me. If there's a cash ban, what currency will you use to buy weed/illegal drugs?

Something as simple as buying weed would become more difficult under a cash ban.

A cash ban would diminish freedom and rights.

It would make payment systems more inflexible, rigid and less efficient.

Economy would suffer as a result.

These people have figured out how to get away from doing such illegal things, I'm pretty sure they would find a way to go around the new society in no time. Everything has its flaws and even a cashless society. You can avoid having "shady" transactions by having legally a job that pays a lot. Your transactions from shady stuffs will be covered up because you would have a paper that the money came from a company as a salary even though it's truly not. Things are so simple. They can also do dummy accounts on cards. There's not only one company that offers a bank account out there so having dummy accounts isn't really hard to make. They will just hire a person to do it for them.

I don't encourage such things but all I'm saying is that if I can figure out things this easily, then the thugs and all the mafias out there will also figure it out by themselves. Probably a more concrete and realistic way than mine, though.

[deppil]

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.

Yeah is still a lot of poor countries in the world and many of these countries do not have a good internet connection even the people are not too familiar with internet and blind technology, and that is why cashless society will not happen in this era. It may take a very long time for this to happen

[Buttercup123]

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

I agree with you, it's possible to happen but not on this era, truly online transactions will require Internet Globally and without delay. In addition, nowadays, our world  still have third level of country (not as rich as the first level country like America), there are still parts of the world that has slow Internet connection and are very primitive. Some still can't use technology well and it will take much more time for them to cope up what they have just missed regarding technology.

[aoihs00]

Yeah I have. Norway wants all cash gone by 2025, this is a huge step in the wrong direction. The banks will have total control over the economy on the country, everyone is forced to make payments by card. Lending a few dollars to a friend? Nah sorry cash is worthless.


I think bitcoin would make a difference if this ever happens, let's just hope a transaction won't cost 2$ by then.

Wow that's huge step by Norway but yeah going all by centralised means which only tells one thing, banks are devils. If this really happens then charges of transaction will increase because demand has increased. To work with increased demand one needs more people handling it behind the scenes and ultimately banks will recover those charges from us.


Bitcoin would make heroic entry if so this happens, as it is more cheap as compared to traditional banking and at that time it will be even cheaper.

[L00n3y]

A cashless world is inevitable and Cryptocurrency started it. It has been accepted by the world but there can be a BIG pros and cons. Pros are the things you can easily transact to things and cons are if people are unaware and not that knowledgeable to the digital world leading to hacking.

The same goes for the fiat system. Terms like if we're not careful is just an excuse. Yup I get the point that the digital world is more prone to hacking or to data stealing and imitations, but even if we want this or not this is where the future is leading and we must be literate in this kind of language. The cashless society have been implemnted and being implemented in different countries and we're not stopping it.

[fanbeila]

Cashless society is very difficult to create.Even now,there are more people who don't have debit or credit cards and don't know antything about digital transactions.In india,recently the government tried to create a cashless society by banning high valued notes but still it failed to deliver the expected results.

[Lieldoryn]

Cashless society is very difficult to create.Even now,there are more people who don't have debit or credit cards and don't know antything about digital transactions.In india,recently the government tried to create a cashless society by banning high valued notes but still it failed to deliver the expected results.

Action by all governments, aims to gradually move to cashless payments. This does not happen in one day, but look at what they are doing now. Limit the maximum amount for cash payments, businesses are forced to pay wages only a credit card. Use of cash ends.

[Klausi]

Cashless society is very difficult to create.Even now,there are more people who don't have debit or credit cards and don't know antything about digital transactions.In india,recently the government tried to create a cashless society by banning high valued notes but still it failed to deliver the expected results.

Action by all governments, aims to gradually move to cashless payments. This does not happen in one day, but look at what they are doing now. Limit the maximum amount for cash payments, businesses are forced to pay wages only a credit card. Use of cash ends.

Really? Did it happen already in your country? Just if it happens in my country, I think it's cool and convenient at the same time because I can purchase my items without bringing loads of paper bills or coins in my purse. Sometimes it would be hard to count on if I have extra needs or wants to buy for. I like this idea to have a cashless society.

[joseafonso123az]

I think this would take lots of years and considerations by politics and bankers. This would be a new paradigm for everyone, so it has to be studied before moving to a cashless society. And with digital currency you get all the risks you have with the digital world.

[Abiky]

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.

Yeah. The big issue here would be worldwide acceptance of a new cashless society, and the introduction of a global internet which anyone can get ahold of. As for old people, they're going to have a hard time getting used to making payments in a cashless way, as like you said earlier, they're more familiar with using physical fiat currencies.

But, I believe that we will get there someday with the introduction of cashless payments every step of the way. One thing for sure is that if proper steps are taken to ensure a great level of education for people to start adopting cashless payments, then a completely cashless society would come into effect in the future.

The most interesting part of a cashless society would be automation, as it would open up a world of new possibilities never before seen with physical fiat such as borderless payments, fast settlement, and the ability to self-fund bots and drones that would make most of the stuff we do nowadays.

If we combine the blockchain with smart contracts, IoT, and AI, we'll be able to see a world where anything could be funded with cashless payments in what we call an Internet of Value. Just my thoughts

[BeGoods]

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.

Not just old people, but many people in different parts of the world where the internet is still rare and technology is not so popular in the country, maybe in many poor countries they are not too familiar with the plastics card let alone non-cash currency. Of course they will not be able to accept cashless at this time

[freeyourmind]

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.

Not just old people, but many people in different parts of the world where the internet is still rare and technology is not so popular in the country, maybe in many poor countries they are not too familiar with the plastics card let alone non-cash currency. Of course they will not be able to accept cashless at this time

The cost of printing fiat is less than a cent for the paper and ink required, yet once it's finished, it's worth say $100.  It's probably the lowest cost possible to get $100 out of thin air.

For less tech savvy people, or older people who don't want change, there will just need to be a user interface that is super easy to use.  The same way that old people have gotten off dial up internet, or rotary phones.  What can be easier than tapping a card or phone on a scanner and having the payment go through.  Once it's part of everyday life for the tech savvy and younger crowd, it will be more trusted and adopted by the rest.

[batang_bitcoin]

I think this would take lots of years and considerations by politics and bankers. This would be a new paradigm for everyone, so it has to be studied before moving to a cashless society. And with digital currency you get all the risks you have with the digital world.

I have watched on news on social media today that there's a company in USA with 50 employees that are implanted with a microchip. That chip has their money, they don't have to swipe or withdraw cash on their banks. This is now the start of this technology sooner or later this will be implemented through all the countries.