Cashless society

[suvo05]

Maybe it is not possible that the whole world will go cashless but it is quite certain that there are lot of society, which we can say are less-cash society. And that is good for economy I think. Our government is also concerned to build a less cash society and have taken some bold and good steps for that.

[sindikat]

Cashless society maybe far from from reality but it is possible. When the support of the government will with the cryptocurrency then it will be possible to have all transactions cashless.

A cashless society does not need to be crypto currency-based one hence cashless society will be possible even government will not approve them. I mean to say cashless society are already happening based on other cashless methods.

You're right, a cashless society goes beyond cryptocurrency and the internet. As a matter of fact, such societies are already here with us. When we use our debit/credit cards, checks, cryptocurrencies and just about any medium of payment that bypasses physical cash, we're already one leg in and eventually it would evolve into more refined ways and means.

The governments however are going to be at the forefront of it, because it is sure to give them, the power and control they crave for and would also benefit the economies by greatly reducing the cost of printing cash and minting coins.

In some classes of society certainly cashless is widely used, for example most upper class people prefer to use credit card or debit card to shop rather than using cash money. It proves that cashless society has already occurred in some classes of society. But this cashless has not been widely used by lower class society, that's the fact

In my country now all the people receive a salary or pension on the card. There were only minor private offices, shops and cafes which accept cash and they paid wages. It's not a big percentage of the economy therefore the government is the last step and the economy is cashless. They don't do it consciously. So it is more beneficial to someone upstairs.

[superplus]

In my country now all the people receive a salary or pension on the card. There were only minor private offices, shops and cafes which accept cash and they paid wages. It's not a big percentage of the economy therefore the government is the last step and the economy is cashless. They don't do it consciously. So it is more beneficial to someone upstairs.

But not all levels of society using credit cards or debit cards because it is such cards are used only in large cities only right?

[Buttercup123]

An ideal cashless society is far from the reality, in India atleast. People have trouble getting good internet connections, many haven't used a computer in their lives too. When I try convincing some people to adopt BTC, they just shrug it off saying its just some HYIP/ponzi scheme. People have started using debit/credit cards/  netbanking to pay for stuff, but ideal cashless society is equipped with cryptocurrency, where the majority of the people of that society adopt cryptocurrencies, and that isn't happening anytime soon in India.

I don't think that those who support cashless society care whether its feasible or efficient. They esteem ideology over human concerns or standard of living.

Even in the united states many homeless or poor might be unable to buy or sell basic necessities like food if they were unable to afford a cell phone equipped with digital transaction/internet.

Many could starve or die if cashless society were adopted.

Yup, i don't want my life spending in a cashless society, even though it has good parts, but majority will not agree, kids at early age cannot buy simple foods like candies, for they don't have a smart phone as early as 5 yrs. old, and thinking about our grandparents or our elders, those who don't know how to use Internet cannot buy for their own.

[warwar]

Well it is nice idea a cashless society but i think it wont really happen, there are a ton of rich or a influential people that will hinder that improvement or that thing because first they cant earn from it, they think that all of people on that time is equal and they dont like it and last is they business is all about currencies though we as a middle class or the poor one is really advantage to us but mostly those rich one dont agree.

[Ctn]

Why not, bitcoin is rigid currency and it will have versatile use by the time whole world becomes cashless society.

wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.

There are more chances of happening this, because without working together neither fiat will work properly or bitcoin might not exists without the help of fiat currency. Today, bitcoin  has not come to real world yet, its not fully operational at the doorsteps neither in the industries nor into government facilities! It has to go through more difficult tests yet to come to existence in reality. Bitcoin will need regulations to work with cashless society and it will have to work with fiat currency regulation to stay as usable currency. Without this it may not survive as people may fear of loosing money over bitcoin due to unregulated instances. 

[justdimin]

An ideal cashless society is far from the reality, in India atleast. People have trouble getting good internet connections, many haven't used a computer in their lives too. When I try convincing some people to adopt BTC, they just shrug it off saying its just some HYIP/ponzi scheme. People have started using debit/credit cards/  netbanking to pay for stuff, but ideal cashless society is equipped with cryptocurrency, where the majority of the people of that society adopt cryptocurrencies, and that isn't happening anytime soon in India.

Not only India but almost in all third world countries, the condition is same. Many people are still not aware of online banking in these states, under such circumstances it would be really ludicrous to even imagine a cashless society. Even in the developed countries, cashless society is not possible for at least half century.

[Skillboard]

Eventually it will come down to this. As of 2017, approximately 1 in 5 people in Europe rarely carry cash anymore. I personally hardly ever carry cash anymore, only my debit-/creditcard. It will take some time, cash is in retreat, not dead.

[Kevondo]

Without a doubt and I'm 100% very sure that cashless society will be coming soon. If I'm not mistaken it's already being done in Switzerland and in US. People have microchips on their hands and they are happily transacting in bars paying their bills. And in Switzerland, there's a company, I just forgot the name of it, their employees are required with it.

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. 

[KourtneyK]

I have thought about this before, having a cashless society and even wondered if crime rates such as stealing would be minimized when all would apply to have cashless. There are actually benefits and downsides while having a cashless society. It could be practiced slowly and people would get used to it, very futuristic indeed. But what about those living in the 3rd world country, would they be able to keep up with having no cash at all?

[Tsuloid]

Obviously in the near future, countries and different economic systems, as well as financial systems, will take into account technologies that guarantee the exact accounting of national and foreign currencies, which presents a dark mantle today, due to the impossibility of locating each Active currency in a given time. It is interesting that the film industry treated the subject with futuristic vision in the film "In Time" of
20th Century Fox stars as Amanda Seyfried, Justin Timberlake, in this movie the Time has become the universal currency, and can be transferred between people or "time capsules". 

Credits: https://en.wikipedia.org/wiki/In_Time

[ladydark]

cashless society is a good concept to hear but its very hard to implement.The reason for this is that there are still large number of illiterate people all over the world who don't know about digital transactions,don't have a credit or debit card.they believe only the paper money as true money which they could feel in their hands.Recently,indian government also tried to convert people to cashless transactions,but it failed.

[stompix]

An ideal cashless society is far from the reality, in India atleast. People have trouble getting good internet connections, many haven't used a computer in their lives too. When I try convincing some people to adopt BTC, they just shrug it off saying its just some HYIP/ponzi scheme. People have started using debit/credit cards/  netbanking to pay for stuff, but ideal cashless society is equipped with cryptocurrency, where the majority of the people of that society adopt cryptocurrencies, and that isn't happening anytime soon in India.

I don't think that those who support cashless society care whether its feasible or efficient. They esteem ideology over human concerns or standard of living.

Even in the united states many homeless or poor might be unable to buy or sell basic necessities like food if they were unable to afford a cell phone equipped with digital transaction/internet.

Many could starve or die if cashless society were adopted.

Are people starving to death in Sweden?
Last time I heard news about them they were probably the best country to live in in terms of freedom and social welfare.

And for god sake people.
STOP saying it's IMPOSSIBLE for a cashless society to exist.

When you say things like this you really look like the ones that burned Bruno because he said the earth was spinning around the Sun or like the guys that said it's impossible for a thing heavier than the air to fly.

I will give you one damn example why is so good to have a cashless society.
After the fall of communism my country was a total mess. Violence and robberies were common and it was something like... meh.. another one.

You know what old people switching to have their pension paid on a card did?
A huge almost 99% decrease attacks on postal workers and old people at the day of the payments.
I don't give a damn right now if somebody steals my wallet. Except for the actual wallet everything there is useless and I can replace it in 24 hours almost free.

So again, when you think about a cashless society, give a thought about countries that are not from the 3rd world witch have trouble providing sewers for the population.
India, Pakistan, Philippines are not the ones you should base your judgement.

Think more Sweden,Norway, Japan or Netherlands.

[matchi2011]

cashless society is a good concept to hear but its very hard to implement.The reason for this is that there are still large number of illiterate people all over the world who don't know about digital transactions,don't have a credit or debit card.they believe only the paper money as true money which they could feel in their hands.Recently,indian government also tried to convert people to cashless transactions,but it failed.

I agree dude, it's a good concept but too good to be effectively implimented in today's society. Imagine the comvenience ot wpuldngive us for transactions if we don't have to physically bring in money. But i think that's still far from happeming. Although right now we have cashless transactions, it would be almost impossible to go exclusively cashless.

[DevilSlayer]

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 know that the cashless society that you are talking about will soon to happen. You can see that many countries are now accepting the bitcoin as their daily payment. Maybe 5 years from now, we can see the cashless society that you are talking about.

[pardede]

With digital money will facilitate us in any case and accelerate the transaction process

[mharz]

cashless society is a good concept to hear but its very hard to implement.The reason for this is that there are still large number of illiterate people all over the world who don't know about digital transactions,don't have a credit or debit card.they believe only the paper money as true money which they could feel in their hands.Recently,indian government also tried to convert people to cashless transactions,but it failed.

I agree dude, it's a good concept but too good to be effectively implimented in today's society. Imagine the comvenience ot wpuldngive us for transactions if we don't have to physically bring in money. But i think that's still far from happeming. Although right now we have cashless transactions, it would be almost impossible to go exclusively cashless.

Definitely I wasn't agree in cashless society, due to issue of legality of bitcoin in different part of the world. Moreover it was hardly to accept but most of the people was not educated regarding electronic devices. So if we hug the cashless society how about the others, they can't know how to use digital currency. Maybe cashless society will happen if 90% of the whole world population are using bitcoin.

[Janation]

With digital money will facilitate us in any case and accelerate the transaction process

I think so, the more the user, the more the transactions will be. It will be like a road being added a lot of car owners. The tendency is to have a lot of traffic in the transaction because a lot of people will be transacting bitcoin.
So I think it will not accelerate unless the developers didn't improve these.

[btcjocan]

cashless society is a good concept to hear but its very hard to implement.The reason for this is that there are still large number of illiterate people all over the world who don't know about digital transactions,don't have a credit or debit card.they believe only the paper money as true money which they could feel in their hands.Recently,indian government also tried to convert people to cashless transactions,but it failed.

I agree dude, it's a good concept but too good to be effectively implimented in today's society. Imagine the comvenience ot wpuldngive us for transactions if we don't have to physically bring in money. But i think that's still far from happeming. Although right now we have cashless transactions, it would be almost impossible to go exclusively cashless.

Definitely I wasn't agree in cashless society, due to issue of legality of bitcoin in different part of the world. Moreover it was hardly to accept but most of the people was not educated regarding electronic devices. So if we hug the cashless society how about the others, they can't know how to use digital currency. Maybe cashless society will happen if 90% of the whole world population are using bitcoin.

How come will you don't agree about that progress when it's purpose is better improvement to the society. If there is a fear of possible problem to occur, well it can be handled by our government authorities that cashless society will be implemented. As I had observed with the latest technology that we have right now all were being into digital transactions specially the online payment system online, and as per everyone's feedback and reviews I see it an advantage although there's some glitches but everything went through smooth signs that we are near at cashless society adoption and bitcoin is the answer to that.

[GrayFullbuster]

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 know that the cashless society that you are talking about will soon to happen. You can see that many countries are now accepting the bitcoin as their daily payment. Maybe 5 years from now, we can see the cashless society that you are talking about.

You have a good point bro. Maybe in the near future the cashless society will happen. I know even normal citizen will use bitcoin as their daily payment in the near future.