Cashless society

[rhamzter]

Being a cashless society is simply hard, but if it's created then the ease in tracking and all other things happen and each and every user will be under the eyes of the government which is a major flaw in cashless society. Also this suits the less populated countries rather than the densely populated nation, because to go cashless everyone needs certain amount of knowledge. With little population somehow they can be taught which is quiet impossible with the highly populated nations.

Cashless society is a huge dreams of many peoples. Because if it is happen I think the possibility of criminal activities will be lessen. Moreover, all transactions will be more easier and faster due to improvement of technology. Also digital currency like bitcoin will become famous in any side of the world.

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[John777]

I think that in the future everything will not be completely non-cash, because sometimes it's nice to feel paper money in your hands. In addition, the government wants to control the whole process.

[warrior333]

You yourself refute. Governments want to control people and the easiest way to do this with non-cash money. The world will gradually go away in the direction of cashless payments, but bitcoin provides an alternative to government control.

[ethtraderdude]

imo in addition to it being traceless there is one property that will make cash very hard to replace: it works offline!!

[gabmen]

imo in addition to it being traceless there is one property that will make cash very hard to replace: it works offline!!

Exactly. One thing that will always be in favor of the current system is that its not held back by online connection. Though we're now at the hey time for progress and internet is easily available in most areas, that still doesn't change the fact that there are many people who would still prefer doing in manually

[stompix]

Cashless society is possible but not in totality in the sense that in order to activate full cashless society the are so many sacrifice to be made eg full Internet service all over the world, 24/7 power supply and so much more.
Now the question is are the developed countries ready to help the less developed country to achieve this and the answer is yes, when is cashless society going to be achieve. I really going to take a long time not now.

It has already been posted here a thousand times.
Check Sweden.
Or better, go to localbitcoins and try to get a cash>bitcoin>cash deal there.
You will only find payments gateways and bank transfers.

A cashless society is there for years but some people really, really badly need to check the news (from 5 years ago.

[exstasie]

Cashless society is possible but not in totality in the sense that in order to activate full cashless society the are so many sacrifice to be made eg full Internet service all over the world, 24/7 power supply and so much more.
Now the question is are the developed countries ready to help the less developed country to achieve this and the answer is yes, when is cashless society going to be achieve. I really going to take a long time not now.

It has already been posted here a thousand times.
Check Sweden.
Or better, go to localbitcoins and try to get a cash>bitcoin>cash deal there.
You will only find payments gateways and bank transfers.

A cashless society is there for years but some people really, really badly need to check the news (from 5 years ago.

Sure, Sweden is certainly a pioneer in the move towards a cashless society. When do you see countries like the USA following suit? Currently, I move back and forth between the Toronto area and Los Angeles. In both places, even as smart phones have becomes so ubiquitous (let alone credit cards), cash still seems incredibly established.

I'm always surprised, but I constantly still see people pulling out cash, particularly at restaurants and bars. When driving in rural areas in California, I've still seen cash discounts at gas stations as recently as last year. It just feels like we are so far away from this dystopian reality people invoke by saying, "Sweden."

[Igebotz]

it will happen if all people are using bitcoin or cryptocurrency i think that our future. and its now starting many apps on ISO and Android building program or apps  and government will create a law for it. if this is happen for 1 county other will follow.

[qwertyup23]

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. 

We are moving towards that direction but I do not think it is ever going to be achieved, there are too many impediments, many people like me do not like the idea of a completely cashless society, also that movement is lead to try to control you more effectively but now that bitcoin has appeared that system of control is going to be a lost less effective.

It might works on some big country like USA, Korea and Japan but i'm not sure for other countries. Cashless society is our future and we can't deny it, especially our technology is always upgrade and our life will follow it, maybe our next generation will start using cashless society.

Exactly! Half of the world's population are in poverty and due to bitcoin's nature being available in the internet, I doubt that they will have constant access at this point in time. We are advancing into a technological age wherein developed and some developing countries are innovating methods to develop infrastructure that will soon benefit their economy. The problem is, the rich nowadays are becoming richer and poor are becoming poorer. This leads to an imbalance that would result to chaos in poor countries due to their priorities, focusing first on their livelihood and not the internet.

[Absentis]

it will happen if all people are using bitcoin or cryptocurrency i think that our future. and its now starting many apps on ISO and Android building program or apps  and government will create a law for it. if this is happen for 1 county other will follow.

Well I guess it was just a worst day of digital currency if govenment will take control of it's regulation, since the freedom of bitcoin that we have now is very independent from government system. So if ever there is an implementation of cashless society, I might hope that it's not that bitcoin basis but fiat currency itself being digitized. With regards to that type of diversion bitcoin currency will not be affected by the possible law over power.

[azguard]

Being a cashless society is simply hard, but if it's created then the ease in tracking and all other things happen and each and every user will be under the eyes of the government which is a major flaw in cashless society. Also this suits the less populated countries rather than the densely populated nation, because to go cashless everyone needs certain amount of knowledge. With little population somehow they can be taught which is quiet impossible with the highly populated nations.

Yes this could be flaw so called big eye in some lines that i have read. This could be another thing to track how much you earn on yearly bases, how much you spend, why you spend more then you earn and tons of this kind a question. But this is still hard to accomplish even on paper, cuz many still really on the paper money as paying. We have increase in use of payment card yes, but this wont bring us any motion to this happening sooner.

[coin_1122]

I think that in the future everything will not be completely non-cash, because sometimes it's nice to feel paper money in your hands. In addition, the government wants to control the whole process.

Yes, you are right because sometimes it is not possible for the government to control the paper money because many people are creating a lot of fake notes and circulating in the market. That's why they want to move to cashless transaction and government can easily control economic growth.

[Hamphser]

Being a cashless society is simply hard, but if it's created then the ease in tracking and all other things happen and each and every user will be under the eyes of the government which is a major flaw in cashless society. Also this suits the less populated countries rather than the densely populated nation, because to go cashless everyone needs certain amount of knowledge. With little population somehow they can be taught which is quiet impossible with the highly populated nations.

Yes this could be flaw so called big eye in some lines that i have read. This could be another thing to track how much you earn on yearly bases, how much you spend, why you spend more then you earn and tons of this kind a question. But this is still hard to accomplish even on paper, cuz many still really on the paper money as paying. We have increase in use of payment card yes, but this wont bring us any motion to this happening sooner.

Cashless society would really be hard to be implemented and as being said not all people on the world do have knowledge on online things which would really be a hard thing. Tracking on your transactions regarding on spending and earnings would really be more strict since government could really able to see such activities which do really suck at all and it somehow shows our privacy to them.

[ajmapalo22]

I think that is impossible unless bitcoin will have a physical token that will circulate the market...we cannot expect those lower member of the society to be able to use bitcoin they cannot afford to have computer or other gadget to operate for payment thru bitcoin..it will be a very long process before they can permanently removed paper money circulating in the market unless government will support that

[stompix]

Cashless society is possible but not in totality in the sense that in order to activate full cashless society the are so many sacrifice to be made eg full Internet service all over the world, 24/7 power supply and so much more.
Now the question is are the developed countries ready to help the less developed country to achieve this and the answer is yes, when is cashless society going to be achieve. I really going to take a long time not now.

It has already been posted here a thousand times.
Check Sweden.
Or better, go to localbitcoins and try to get a cash>bitcoin>cash deal there.
You will only find payments gateways and bank transfers.

A cashless society is there for years but some people really, really badly need to check the news (from 5 years ago.

Sure, Sweden is certainly a pioneer in the move towards a cashless society. When do you see countries like the USA following suit? Currently, I move back and forth between the Toronto area and Los Angeles. In both places, even as smart phones have becomes so ubiquitous (let alone credit cards), cash still seems incredibly established.

I'm always surprised, but I constantly still see people pulling out cash, particularly at restaurants and bars. When driving in rural areas in California, I've still seen cash discounts at gas stations as recently as last year. It just feels like we are so far away from this dystopian reality people invoke by saying, "Sweden."

It's not only Sweden, Norway and Israel are going full speed ahead.
And in terms of the US , that's one hell of a particular situation.

The best example would be your cc cards compared to those in Europe.Just like your internet connection compared to the Baltic states.
Although technology comes from the US and the most advance systems are built and pioneered there you lag so much behind others when implementing it it is really amazing.

[Abiky]

For technology this is correct every day we have something new and unique and in some way something that will ease our life in future years. Watches some documentary on discovery channel and they predict that by year 2020 we will have one thing for everything to be our smart solution. One device that will be our phone, PC, TV and car navigation.

So who know what will we expect in this 3 years from now. Maybe will be paying with our mind.

It would be amazing to have an all in one device like you said, in order to make our life easier. As technology is advancing at a fast pace, everything is possible here.

I believe that at some point in the future, internet access would spread at a global scale, allowing even third world countries to get a grasp of this technology. When this comes in, a cashless society may come into effect, as every device around the world will become empowered by the Internet of Value, allowing anyone to pay for services, in a quick and convenient way.

As for paying with our minds, this may not be far from becoming a reality within a few years from now. The whole world will change for the better with these technologies, as everything would be fully automated and autonomous, from drones to bots, and smart contract powered driverless cars. With a cashless society, all these things will become possible. Just my opinion

[exstasie]

Cashless society is possible but not in totality in the sense that in order to activate full cashless society the are so many sacrifice to be made eg full Internet service all over the world, 24/7 power supply and so much more.
Now the question is are the developed countries ready to help the less developed country to achieve this and the answer is yes, when is cashless society going to be achieve. I really going to take a long time not now.

It has already been posted here a thousand times.
Check Sweden.
Or better, go to localbitcoins and try to get a cash>bitcoin>cash deal there.
You will only find payments gateways and bank transfers.

A cashless society is there for years but some people really, really badly need to check the news (from 5 years ago.

Sure, Sweden is certainly a pioneer in the move towards a cashless society. When do you see countries like the USA following suit? Currently, I move back and forth between the Toronto area and Los Angeles. In both places, even as smart phones have becomes so ubiquitous (let alone credit cards), cash still seems incredibly established.

I'm always surprised, but I constantly still see people pulling out cash, particularly at restaurants and bars. When driving in rural areas in California, I've still seen cash discounts at gas stations as recently as last year. It just feels like we are so far away from this dystopian reality people invoke by saying, "Sweden."

It's not only Sweden, Norway and Israel are going full speed ahead.
And in terms of the US , that's one hell of a particular situation.

The best example would be your cc cards compared to those in Europe.Just like your internet connection compared to the Baltic states.
Although technology comes from the US and the most advance systems are built and pioneered there you lag so much behind others when implementing it it is really amazing.

That's why I bring up the situation in the USA. In many respects (particularly regarding infrastructure-related technology roll-out), the US indeed lags behind others. You bring up internet speeds: this makes sense considering the immense cost of rolling out fiber-optic infrastructure vs. the sheer size of the US. Population density is much lower here than in Europe, so such massive projects are much slower to roll out. Telephone and water piping infrastructure is also quickly deteriorating in the US....

[no0dlepunk]

I like it going cashless because I hate having coins in my pocket. I guess it would be an awesome experience to just having your android phone and pay all the bills with it. As soon as blockchain becomes widely accepted, this MR ROBOT idea would surely come to life. cheers!

[stompix]

That's why I bring up the situation in the USA. In many respects (particularly regarding infrastructure-related technology roll-out), the US indeed lags behind others. You bring up internet speeds: this makes sense considering the immense cost of rolling out fiber-optic infrastructure vs. the sheer size of the US. Population density is much lower here than in Europe, so such massive projects are much slower to roll out. Telephone and water piping infrastructure is also quickly deteriorating in the US....

Sorry but population density makes no sense.
Take for example Romania which is one of the poorest in Europe, they have one large city and then nothing, low density, low wages yet you can still have 500Mbps for 10$. And they do have fiber optic cables even if they don;t have running water in some villages.

New York should have the highest speeds in the world because of density and purchasing power, yet....

As I said, it's something peculiar about Americans and their cash.
Even Chinese are far more open minded than you when it comes to electronic payments.

[exstasie]

That's why I bring up the situation in the USA. In many respects (particularly regarding infrastructure-related technology roll-out), the US indeed lags behind others. You bring up internet speeds: this makes sense considering the immense cost of rolling out fiber-optic infrastructure vs. the sheer size of the US. Population density is much lower here than in Europe, so such massive projects are much slower to roll out. Telephone and water piping infrastructure is also quickly deteriorating in the US....

Sorry but population density makes no sense.
Take for example Romania which is one of the poorest in Europe, they have one large city and then nothing, low density, low wages yet you can still have 500Mbps for 10$. And they do have fiber optic cables even if they don;t have running water in some villages.

New York should have the highest speeds in the world because of density and purchasing power, yet....

As I said, it's something peculiar about Americans and their cash.
Even Chinese are far more open minded than you when it comes to electronic payments.

Maybe you are right. It was just based on my gut reaction (judging by the costs to roll out fiber optic nationwide). Here is what I am talking about:

United States population: 324,070,000 = 33 per km2
Israel population: 7,697,600 = 371 per km2
Netherlands population: 17,210,000 = 414 per km2
https://simple.wikipedia.org/wiki/List_of_countries_by_population_density

The cost to deploy new fiber optic infrastructure to extremely dense EU countries is nothing compared to that of the sparsely-populated USA:

How outrageous? Well, a new report from Goldman Sachs that talks about the possibility of Google building out a cable system says it would cost over $140 billion to cover the whole country.

http://www.businessinsider.com/how-much-it-would-cost-google-to-build-a-cable-network-2012-12

The real problem is that the US government chooses not to invest into telecom infrastructure (and it continues to allow other aspects of vital infrastructure to crumble as well). Instead, it expects private industry to pay all the costs. So, what do private companies do? They continue milking customers for massive profits while rolling out quality broadband infrastructure at a snail's pace.

Maybe the real problem is the monopolistic position of companies like AT&T and Verizon. With more competition, there might be a greater push in the private sector to advance fiber optic roll-out. But regarding the deployment, due to population density, I am quite sure that the midwestern US will receive service improvements many years later than metro centers like New York City and Los Angeles.