Cashless society

[Malaya]

Cahsless society is quite impressive and exciting to happened in the future. However people needs to develop more stable internet connection in countries that has low connectivity for it to work. Transactions are online and it will be more convenient for everybody. I'm very good at it.

[1714823401]

1714823401

[mattermaster]

The day bitcoin gets completely decentralized and the government starts tracking blockchain activities, it will become worthless in less time.
I am very happy to interact with its anonymity and decentralization  I don't wanna any changes in it.

[inanilujimi]

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 think people without money will never succeed
Because a lot of negative impact in my opinion
Such as drug transactions with ease, where corruption and so on.

[eli77]

Yes. I love Cashless Society. I spend most of my time studying and researching about Digital Currency because I wanna learn the basics of handling my crypto coins. This is in preparation for Cashless Economic System.
This is the best season to be educated and promote the advocacy of Digital Money. We must share our learnings to the people even to the Government System of our country. The President must be aware of the benefits of Cashless system.

[gregory51gosh]

There is a great book on cashless society and what may go wrong or what may go right. It was like the author predicted tokenization in 80's. It is called "limes inferior".
In general not to spoil: society bases on digital currency (points: gold, silver and brown). Everyone has access to brown, which gives basic life. While anything beyond the needs of sustaining requires the silver and gold.

https://en.wikipedia.org/wiki/Limes_inferior

I think future may be related in such way to tokens, cyrpto and fiat money. While 90% of the society will suffer from the lack of resources, early adopters will benefit form the creation of such system.
But it would take the independency.

[Valzzz005]

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 think that would be awesome with our society being cashless, no more lost cash because we dropped it. No more wallet snatched because we will have digital wallets. But among those advantages there will aways be a disadvantages like hackers will try to easily hacked all our money and steal all our investment and savings but I know there will always be a way to avoid that thing lets just not thing about that future, let that future come to us.

[Blamsud]

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 think that would be awesome with our society being cashless, no more lost cash because we dropped it. No more wallet snatched because we will have digital wallets. But among those advantages there will aways be a disadvantages like hackers will try to easily hacked all our money and steal all our investment and savings but I know there will always be a way to avoid that thing lets just not thing about that future, let that future come to us.

Indeed, since we are now in technology era everything is possible, we can now pay just tapping or swiping our cards so its also possible in btc soon. Many were using some btc apps now for transactions in buying some stuffs so we can already see thay it can happen soon.

[azguard]

This is actually a good idea, a cashless society means less hassle more convenience to all of us. Imagine a world without worrying about your money in your wallet, that it may get stolen from you. Cryptocurrency also helps us with its security, we do not need to be bothered by storing our money in the bank or at a safe, the online wallets do that job for us. A cashless society is the most convenient way to live our lives carefree.

Stealing can be made with cryptos to, hard but possible. Anyway it would be good not to worry all the time about cash in wallet sometimes can be very frustrating.  Most keep coins on secure wallet but this could be good if someday comes to reality. Still in some point we are in cashless society but for complete we will need much more. Who knows maybe in some near future it will be cashless but it wont be with cryptos maybe with something else.

[exstasie]

This is actually a good idea, a cashless society means less hassle more convenience to all of us. Imagine a world without worrying about your money in your wallet, that it may get stolen from you. Cryptocurrency also helps us with its security, we do not need to be bothered by storing our money in the bank or at a safe, the online wallets do that job for us. A cashless society is the most convenient way to live our lives carefree.

Stealing can be made with cryptos to, hard but possible.

It becomes much easier when you entrust your private keys to third parties. Take the example of banks: in the future, they will be offering bitcoin banking services. Because average folks don't understand Bitcoin and don't want to deal with securing their keys, they'll pay banks to do it for them. If banks "lose" the bitcoins to hacks, they might be insured up to a certain amount, but it will only be like FDIC insurance, denominated in USD. That's the nature of fiat money; it must be accepted by law for the payment of debts.

So it will be important to remember in the future, even as Bitcoin is mainstream and all the major banks offer supposedly secure storage services, to hold your private keys personally. Regulated entities will only be required to pay USD value up to the insured amount.

[BeGoods]

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 think that would be awesome with our society being cashless, no more lost cash because we dropped it. No more wallet snatched because we will have digital wallets. But among those advantages there will aways be a disadvantages like hackers will try to easily hacked all our money and steal all our investment and savings but I know there will always be a way to avoid that thing lets just not thing about that future, let that future come to us.

Indeed, since we are now in technology era everything is possible, we can now pay just tapping or swiping our cards so its also possible in btc soon. Many were using some btc apps now for transactions in buying some stuffs so we can already see thay it can happen soon.

Can you see the gap economics that happened in the society dude? I think if you live in a developing country you will see a very real gap going on where the rich may very easily use cashless like credit cards, debit cards, etc. While in the country there are also many poor people who can not have the ability to use electronics, they are technologically blind. So I think cashless will not happen soon

[UsernameBitcoin]

A cashless society would not be possible for at least 100 years. Funny enough the last BTC will be mined in 2021 so maybe that is a sign?

[Qunenin]

There's been a lot of discussion about this lately. And it all comes down to the same thing, there is some hold that paper money has over people that they're unwilling to let go of it this time. It has nothing to do with cryptocurrency, the transition could have been made with debit cards, services like Google pay, Pay Pal, and other services like that. There is simply something that people refuse to let go of when it comes to paper currency and until we figure out what that is then there's not going to be any replacing it.

[panju1]

A cashless society would not be possible for at least 100 years. Funny enough the last BTC will be mined in 2021 so maybe that is a sign?

Actually, the mining of the last BTC has no significance. It only ensures that miners have to look at transaction fees rather than block reward for their profits.
We don't need a full cashless society. Even if less than 1% of transactions are done through cash, it would serve the government's purpose.

[djgtr]

A cashless society would not be possible for at least 100 years. Funny enough the last BTC will be mined in 2021 so maybe that is a sign?

Actually, the mining of the last BTC has no significance. It only ensures that miners have to look at transaction fees rather than block reward for their profits.
We don't need a full cashless society. Even if less than 1% of transactions are done through cash, it would serve the government's purpose.

yes i really dont believe that cashless society would exist.maybe 10 percent of the society will use cashless such as cridet card ATM card etc. For buying things but in other payment process it is really hard.

[speedy963]

A cashless society would not be possible for at least 100 years. Funny enough the last BTC will be mined in 2021 so maybe that is a sign?

Actually, the mining of the last BTC has no significance. It only ensures that miners have to look at transaction fees rather than block reward for their profits.
We don't need a full cashless society. Even if less than 1% of transactions are done through cash, it would serve the government's purpose.

yes i really dont believe that cashless society would exist.maybe 10 percent of the society will use cashless such as cridet card ATM card etc. For buying things but in other payment process it is really hard.

Well maybe in a long run or in the future it could probably happen, but when we say we could witness in our own eyes or experience cashless society, i don't think it is possible, since as of now it is not yet been decided or even talked by the government, ther are atill big conflicts and problems in our society that needs more focused, and in bitcoi also there still problems currently and its not yet stable.

[rodskee]

there's nothing impossible in the world the technology of the new era are very faster to new development, thats the reason the cryptocurrency goes to use in any transaction use by the whole world become a cashless society, maybe 20 t 30 years the become a cashless society using the cryptocurrencies in the decentralized volatile.

[Sled]

there's nothing impossible in the world the technology of the new era are very faster to new development, thats the reason the cryptocurrency goes to use in any transaction use by the whole world become a cashless society, maybe 20 t 30 years the become a cashless society using the cryptocurrencies in the decentralized volatile.

We can be only a cashless society with cryptocurrencies if there will be a cryptocurrency that is unlimited... unlimited supply because that is the only answer for the possible demand of the people in the world so after 20 to 30 years of waiting we can have a cashless and smooth society with a cryptocurrency.

[Stingray1970]

I do not want to be under control of a government and for that reason I don't want cash to be abolished.

[gabmen]

I do not want to be under control of a government and for that reason I don't want cash to be abolished.

I think its quite the opposite dude. A cashless society run through crypto cannot be controlled by either governments or banks. The current fiat system is centralized and controlled so what youbwould want here is a system run through cryptocurrencies

[Palmerson]

I do not want to be under control of a government and for that reason I don't want cash to be abolished.

I think its quite the opposite dude. A cashless society run through crypto cannot be controlled by either governments or banks. The current fiat system is centralized and controlled so what youbwould want here is a system run through cryptocurrencies

So it must be in the ideal case. In fact, we see a completely different picture. People have turned bitcoin into a means of accumulation. It can kill any currency and if the situation does not change then we will see the collapse of the bubble in bitcoin which is converted.