Cashless society

[azguard]

That is true. From old ages cash is something that is more form of wealth but we are living in modern age now and we have increase use of internet or online paying and purchasing for this year and last year. We see that many dont want to stand in line in bank or ATMs and they want to do most paying from home. This is start for cashless society but still it will take lot of time for whole world go into this phase. Like you said people love to have cash in pocket rather then in some plastic.

Yeah. There are still many people in the world today, which are used to using physical cash rather than relying on credit cards or even use cryptocurrencies. As cash is easy to use and understand, it makes the top choice for anyone in the world for transacting unlike cryptocurrencies. However, I believe that if people get properly educated about the benefits of using cryptocurrencies, then many will make the switch, slowly contributing towards a cashless society in the future.

Nowadays, it is only the beginning as Bitcoin and other cryptocurrencies start to mature. The moment Bitcoin and the rest of altcoins start to scale for the masses, it will be such where a cashless society will gain traction and governments will have no choice but to start implementing their own digital currencies for their citizens to use.

Nevertheless, only time will tell if people will be able to adapt a cashless society or not. Just my thoughts

Yeah you have a good point. All of the people in the world are still prefer cash than cryptocurrencies or credit card but I think if the cryptocurrency will become more popular, there is a chance that the cashless society that are you saying will happen

That is human nature, no matter who we want to change our habits it is still hard, i use both from time to time but prefer to pay bils online no one in line
Kidding, we will come one point to this but when is another questing we have more really on plastic in every purchase so we can expect that in some point in future we have fully cashless society.

[cipher-x_09]

I don't think this one will come true why? because since many people are not fond of technoverse society, especially the elder one and people at the lower level. Also if we will base on a realistic approach people in the office still use papers

[Theb]

combine that with  a no more useless jobs society  and a fairer distribution of "wealth and earthly possessions". World Population might have to decline for that.
It would be great if you could work for fun without having to worry about paying basic bills (house/food/electricity) .
 

You are basically saying that you want to live in a free world which is even a worst idea than a cashless society. As living in a world with no expenses seems to be impossible enough because with the world we live in which if we don't have the ability to produce ourselves we have no choice but to pay.

[yohan09]

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. 

If this thing may happen in the future , its the most efficient and greatest achievement of mankind that comes so far in the field of trading, investing and transferring currency.  This will enable us to work effortless and timeless doing transactions.

[Aganythe]

Cashless modern society implies, almost everything is accomplished electronically. For now its not achievable, but may possibly be in the future.Its dangerous being aware of that there are heaps of hackers close to you. Snatchers and robbers will lower but on the internet hackers might increase.

[Milo_Kidd]

Cashless modern society implies, almost everything is accomplished electronically. For now its not achievable, but may possibly be in the future.Its dangerous being aware of that there are heaps of hackers close to you. Snatchers and robbers will lower but on the internet hackers might increase.

Yes that's possible but for me it's much better than before if it will be successfuly implemented world wide. But for it is easy lifeliving. Your labor, income, paying, transacting, selling and etc. is through bitcoin. I prefer cashless society.

[gamalzour]

That might happen if the governments are involved, but I'm sure it won't it might lessen the income possibility of business as goverments collecting taxes for each transaction in their bockchain being made and every businesses being involved with governments are what Chinese people hate, in the other hand its still pretty much impossible for now because there will be too much people to having a transaction every munite so basically there are so much things to work on for this being able to happen.

The government has to create their own platform like ETH so we can transact under the government chain. But who would trust the government?
Its not like you can do something whenever they will try to edit things which are suppose to be immutable.

People support bitcoin because the government can't control it.

Everybody that doesn't live in a third world country must have noticed that we already use e-money.We are paid with money that we can't see,we are trading without cash money(POS for example),we are using atm,paysafecards,paypal etc.
There is obviously more easy to transfer money, but I think there are still problems suchs us criminality,interest rates, and generally the feeling of insecurity.

This is becoming more common especially in first world countries, however even in those societies I think it is a bad idea to not have cash, what is going to happen if the lights go off for a significant amount of time? No one is going to be able to trade products since there is not a medium of exchange.

Friends, now we are live in millenium century which the advance of technology is grow so quickly. People are smart enough to confert wind, water flow, coal and even sun light to become electricity and deliver it to anywhere around the world. There are some advantages to become cashless society such as reduced handling and transport costs, increased security and a drop in attempts to steal cash. Bitcoin is the best currency for cashless society because it is not controlled by anyone and no inflation in it.

bitcoin still have some pros. Maybe we will have some upgrade on blockchain with new coin. this will be an end of era for cash

Yes, it might be the end of an era of paper money but I think it is nearly an impossible sort of thing to see a society without paper money. Paper money has its own value and importance. This cannot be entirely vanished from the society no matter what the circumstances are.

[The_Dark_Knight]

Everybody that doesn't live in a third world country must have noticed that we already use e-money.We are paid with money that we can't see,we are trading without cash money(POS for example),we are using atm,paysafecards,paypal etc.
There is obviously more easy to transfer money, but I think there are still problems suchs us criminality,interest rates, and generally the feeling of insecurity.

This is becoming more common especially in first world countries, however even in those societies I think it is a bad idea to not have cash, what is going to happen if the lights go off for a significant amount of time? No one is going to be able to trade products since there is not a medium of exchange.

Friends, now we are live in millenium century which the advance of technology is grow so quickly. People are smart enough to confert wind, water flow, coal and even sun light to become electricity and deliver it to anywhere around the world. There are some advantages to become cashless society such as reduced handling and transport costs, increased security and a drop in attempts to steal cash. Bitcoin is the best currency for cashless society because it is not controlled by anyone and no inflation in it.

I’m not saying it is bad, I’m saying there are risk inherent to becoming completely dependent on credit cards or bitcoin, you need to have some cash around so if something like that happens you can still survive for some time, while some people will think that something like that is impossible, the possibility is there and you need to be prepared for it.

[richkellj]

I will not consider that income will totally be changed with cryptocurrencies in long term simply since crypto don't function offline. Crypto is largely for the educated course who know how to use Net and cannot be utilised by every person so i will not believe cashless society is achievable.

It is not only you who does not believe on cashless society, but there are many more as well including me who thinks the same. I think it is nearly impossible to wipe out paper money completely from this world.

This is possible that the number of users using paper money may decrease but even then there will be many believers of paper money.

You are correct. I believe that both the digital currency and the paper money are entirely different things. They are not directly related to one other. Both of them have their own users and investors. We can see a little decrease in the number of users of paper money but we can never experience this cashless society ever.

[Tubig]

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.  

To think on the future cashless?For me it's impossible, maybe they first must have asolution to poverty before you think on cashless society, and also the facilities or machines/computers that will be used for the credits or any transaction.

[julius caesar]

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 still dont think so for as long not every people in the world is aware and willing to use bitcoin there would be no cashless society in the sense than people is used to transact using paper money in which easier in trading unlike in bitcoin world must acquire the most reliable and fast kind of Wifi for everyone to use it for payments.

[Anndrianno]

Certainly the theory "holds water", however there are several important issues, which have to be settled before governments will be able to introduce crypto currrencies and provide the general public with full ability to use it:

1) Control.
The government requires full control of cryptocurrency, which includes the issue, additional issue and verification.

2) Security.
We always here about some unknown hackers steeling cryptos. Governments cannot afford it.

3) Transparency.
 This "Advantage" is a lot more a "distadvantage" as authorities have to pay their spies, assassins, Feds. Accept bribes, fake budget and so on so force. All those transactions would become visible and known to the general public as a result of the blockchain technology implication.

[Abiky]

Yeah you have a good point. All of the people in the world are still prefer cash than cryptocurrencies or credit card but I think if the cryptocurrency will become more popular, there is a chance that the cashless society that are you saying will happen

Well, it is only a matter of time before people get used to cryptocurrencies or keep using cash. It will be up to Bitcoin and other altcoins to deliver proper education and user friendliness to speed up the adoption in the mainstream world. Therefore, if this is not taken into consideration then a cashless society will only be just a dream instead of a reality.

Nevertheless, there is one critical point towards helping achieve a cashless society and that is global internet access. If we cannot count with this, then some areas in the world won't be able to get access to cryptocurrencies, further limiting their use in the mainstream world. Just my thoughts

[Bestwishes745]

Cashless modern society implies, almost everything is accomplished electronically. For now its not achievable, but may possibly be in the future.Its dangerous being aware of that there are heaps of hackers close to you. Snatchers and robbers will lower but on the internet hackers might increase.

Yes that's possible but for me it's much better than before if it will be successfuly implemented world wide. But for it is easy lifeliving. Your labor, income, paying, transacting, selling and etc. is through bitcoin. I prefer cashless society.

Yeah I too prefer a cashless society because I feel very uncomfortable while carrying cash with me. Bitcoins will soon become a major cause of cashless society because of the global acceptance of bitcoins for all online transactions, payment of utility bills, and sale/purchase of various products online.

[poldanmig]

More modern world, and  financial system continues to innovate. Cashless society increasing as mobility is very high. Even where i live, have little cash for necessities that sometimes cann't be replaced with creditcards.

[d1ceplayer]

I will not consider that income will totally be changed with cryptocurrencies in long term simply since crypto don't function offline. Crypto is largely for the educated course who know how to use Net and cannot be utilised by every person so i will not believe cashless society is achievable.

It is not only you who does not believe on cashless society, but there are many more as well including me who thinks the same. I think it is nearly impossible to wipe out paper money completely from this world.

This is possible that the number of users using paper money may decrease but even then there will be many believers of paper money.

That’s true! We can’t just remove paper money from world economy forever by digital currencies because a lot many people are still not comfortable with digital currencies, besides paper money does not need internet access or other accessories to be used for making transactions etc but all this is needed in case of digital currencies.

[ekoice]

I think in today's situation,its highly impossible to create a cashless society.We could see that there are still more senior citizens as well as illiterate people in under developed countries who still don't have a debit or credit card and they don't know about digital transactions.They think that only the paper money as a real money which they could feel in their hands.In india too,the government tried to create a cashless society by banning high value notes.But people refused to turn to cashless transactions and they just continued to use paper money despite facing lots of difficulties.That was a huge drawback for indian government.So,in today's condition,it seems highly impossible.

[djsugar]

Cashless monetary system is indeed a reality of future and cryptocurrencies will definitely be an important part of such society. But governments and Central banks who are already in the process of creating their own cryptocurrencies in various countries won't let other decentralised currencies to dominate the market. They will definitely try to curb their growth. But that will be in distant future. Right now the world isn't in the situation of going cashless nor it would be possible in next 20-30 years.

[JohnSWinger]

You will be in the hands of dev. A negative interaction rate and your wealth I risk our money in btc is likely it will really pumping and we can earn by having more ways than it is in the actual fiat that there is. Society without cash is not a good thing by itself, but if it is done with btc then it, when the economy becomes decentralized. thank you

[Monnt]

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. 

If this thing may happen in the future , its the most efficient and greatest achievement of mankind that comes so far in the field of trading, investing and transferring currency.  This will enable us to work effortless and timeless doing transactions.

Yes. It would be the remarkable achievements of the mankind and obviously things will be done more efficiently without any errors. But we should also keep in mind the other side of picture, going totally digital is going to raise some new problems for example, we won’t be able to afford power loss then even for a while etc.