Cashless society

[Harbal]

Cashless modern society seems to be a excellent principle.But there are tons of road blocks in implying it.There are a lot more folks who are nevertheless illiterate and they don't know any thing about electronic transactions.Most of them never very own a bank account,do not even have a credit history or debit card.Cashless transactions was even tried out in india by devaluing higher price notes.but it unsuccessful.Men and women identified ease and comfort in making use of paper funds by itself.So,in modern predicament,i believe its very unattainable to make a cashless society.

[Creas1986]

If modern society does not have funds then its future will be wrecked, what if people have digital currency then the long term will occur nicely, so the commencing is needed to access with common free web, when it is held.

[Beparanf]

If modern society does not have funds then its future will be wrecked, what if people have digital currency then the long term will occur nicely, so the commencing is needed to access with common free web, when it is held.

It can happened soon but not fully. We can't delete in just one snap everything. Cash is been the traditional mode of payment. When systems and internet crash all we need ia to have cash to survive since we were not able to use cards.

[azguard]

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 the future but not going to happen anytime soon. The society will have to go through a long reform process and the main bottleneck to that process is the politicians. They would not want anything that will make their property and cash visible to the public. They will prefer cash hordes instead of depositing it in to their bank account.

However, if the blockchain technology gets adopted by the government and creates a public ledger, it will go against the corrupt groups and have their black money reveled. It's easier said than done.

I think we already are. When we hear the word "Cashless" I assume that we are thinking about Bitcoin payments only. But credit cards, debit cards, and Paypal are all considered cashless payments in our day long before Bitcoin was even created. I really think that we are living in a cashless society right now but not all of us prefer to use cards and internet due to many reasons.

If we look at that then this can be said that we are in cashless society in any point taken. True that before bitcoin we have used all sort of plactic payment or some other (paypal for example). How ever this is something hard to compare. There are some that cannot be used in some part this is for all mentioned above, some cant use paypal other banned bitcoin, this is process that will be in motion for long time.

For word cashless dont need to be just that it can be good if someday this becomes reality.

[minizi99]

To realize a cashless society, it takes a very long time since there is not always an opportunity to pay without cash and not everyone knows how to use e-currency.

[doomloop]

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 the future but not going to happen anytime soon. The society will have to go through a long reform process and the main bottleneck to that process is the politicians. They would not want anything that will make their property and cash visible to the public. They will prefer cash hordes instead of depositing it in to their bank account.

However, if the blockchain technology gets adopted by the government and creates a public ledger, it will go against the corrupt groups and have their black money reveled. It's easier said than done.

I think we already are. When we hear the word "Cashless" I assume that we are thinking about Bitcoin payments only. But credit cards, debit cards, and Paypal are all considered cashless payments in our day long before Bitcoin was even created. I really think that we are living in a cashless society right now but not all of us prefer to use cards and internet due to many reasons.

Indeed! We are already using plastic money. We are having all those facilities that can be attributed to a cashless society. Cashless society if here is referring to a society where there is not even a slightest mark of paper money, than it is only possible in dream world. People are never ever going to quit cash forever.

[Cazkys]

I once watched a documentary of people who lives on far flung places that they thought the president was still the funny old man that got impeached because of his gambling of tax funds more than a decade ago.

My point being...there will be a cashless society…for the places and people that are technologically advanced and have got into the modern times. But there will always be places that will use cash. Digital currency and fiat will go hand in hand as long as there are poor people in poor towns and in poor countries. Bitcoin is something out of reach for them because their country, much less their technology, has yet to advance.

Bitcoin is fantastic advanced system that sometimes we take it for granted whereas people in different places see it as some sci-fi shit of the future. It has to go through a really long process before a country turns into a cashless society but for that to happen, technology and the country should advance together.

[FLoving]

If modern society does not have funds then its future will be wrecked, what if people have digital currency then the long term will occur nicely, so the commencing is needed to access with common free web, when it is held.

It can happened soon but not fully. We can't delete in just one snap everything. Cash is been the traditional mode of payment. When systems and internet crash all we need ia to have cash to survive since we were not able to use cards.

It is really very hard for us to leave cash forever. Many people don’t consider digital currencies even currencies at all. What exactly they want is to use both type of currencies side by side according their needs. Digital currencies have somehow edge over fiat but they still can’t replace fiat forever. 

[Abiky]

The fact is that using the banking system, And in the future the Internet system, we become dependent on something. The fact is that if we assume that in the distant future there will be some problem with electricity or access to the Internet, then what to do with our money in the crypto currency? It seems to me that in ancient times, when they were calculated for services with the help of gold or silver coins, it was much easier.

That is certainly true, mate. The greatest limitations of such a system to become a reality, would be the access to the internet itself. Because, if by any means access to the same becomes limited, then how would it be possible to transact in a cashless world?

As you said earlier, in the before time, it was much easier to pay with Gold or Silver as they were safe haven assets that tend to appreciate in value over time, and were free from inflation (unlike fiat currency). However, I believe that as technology matures over time, many underlying issues regarding the accessibility of the internet would become solved, allowing anyone to perform cashless payments, even if the internet goes down by any reason.

Perhaps, an off-chain solution for offline payments will do the trick, allowing anyone to transact in a cashless society, without limitations. The way I see it, looks like the financial system will be heading towards becoming cashless in the future, as governments and banks start rolling their own digital currencies powered by the blockchain. Exciting times are ahead towards a fully automated, and autonomous cashless society. Just my opinion

[Kevin13]

I wonder it will be happening right now or maybe worldwide in the future, I am optimistic that because of the advancements and advantages right now of the current technology this speculation might happen or it will be implemented. I hope no one will be hindered in the way that it will be implemented. A cashless society is a good idea, I hope government and the blockchain society would agree to each other.

[rtinedal]

it is good to have a digital currency that is good for the country's economy because physical crime can be reduced like holdups and so on. But if the physical money loss will affect the banks and remittances they can lose their profits. Nowadays, physical money and digital money should be just as good today as it may be in the garden as it is being studied by governments of different countries.

[MidKnight]

I'm sure fiat will still exist in the future. Not every people in this world has the money to buy a cellphone and they will buy food instead.

[eleah24]

I was just wondering, if our society became cashless, would it stop thiefs from stealing money from other people? Would our economy prosper? Would it be more efficient for works to be more less hassle?

[batang_bitcoin]

I was just wondering, if our society became cashless, would it stop thiefs from stealing money from other people?

I will say yes and no. No, as thieves are everywhere whether we have cashless society or not. When our financial system is now cashless, hackers are there and they can still hack anonymously but it all depends on the security of the system that will implement cashless society. And yes, all transactions are being monitored by the government and only if they will not use crypto currency with it which they won't rely on crypto's.

[SirLancelot]

If modern society does not have funds then its future will be wrecked, what if people have digital currency then the long term will occur nicely, so the commencing is needed to access with common free web, when it is held.

You might be right. But the future of society will be wrecked if Bitcoin will not be accepted everywhere all over the world. What I think is that it is very much possible that we come across a society which does not have any cash but Bitcoins and digital currencies only.

[datodota002]

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 really hope cashless society happen as soon as possible because it will decrease crime rate , but i think there's 1 little problem because the blockchain technology using internet to run, and not every country have a good internet connection. so until everyone in the world get access to internet. cashless society will be hard to achieve.

[rhamzter]

I was just wondering, if our society became cashless, would it stop thiefs from stealing money from other people? Would our economy prosper? Would it be more efficient for works to be more less hassle?

Yeah all transactions will become much easier compared to the society using cash, but I don't think so if it is happen because some people had less knowledge regarding technology also in bitcoin. However I'm looking forward that it happen in the future.

[Dudeperfect]

I'm sure fiat will still exist in the future. Not every people in this world has the money to buy a cellphone and they will buy food instead.

Yes, fiat will exist for sure but over the time we will head towards a cashless society and it might take a few decades from now. At any given point, not everyone will use digital modes of payment but the number of users using digital form would be a majority.

Here are some examples:

* Beggar with swiping machine.

* Another one.

I am sure some beggars will accept Bitcoin too within next 5 years. 

[stompix]

That picture screams so loud fake Photoshop I had to turn my volume down.
Also that clip is probably staged.

But there are real examples of of how a cashless society is affecting the lifee of poeple who rely on change.

This was four years ago:

http://www.independent.co.uk/news/world/europe/stockholm-homeless-accept-credit-cards-as-cash-king-no-more-8910867.html
 
http://www.zerohedge.com/news/2017-05-16/sweden-inches-closer-cashless-society-churches-and-homeless-now-accept-plastic

[seattletu]

In spite of the fact that it has almost no inherent value and was initially worth pennies on the dollar, there is real enthusiasm for its fundamental blockchain innovation because of its decentralized and pseudonymous nature.

Current social orders depend completely on enormous go-betweens, for example, banks, to build up confide in their economies. Generally speaking, they have made a decent showing with regards to satisfying their capacity. Notwithstanding, there are issues that come from old plans of action conflicting with new innovation. Innate to the old model is centralization, which is clasping under its own particular weight.