Cashless society

[NathanJB]

However governments focus on digital growth​ cashless society is simply an impossible task. The reason why I made this statement is that even now people avoid using cards just because of the increased fee that's been levied as well few people haven't gained the required knowledge to use it.

Yes it is, and I dont see it happening soon , well since every country has its fiat I think governments will not allow bitcoin to rule over it, they will not allow a decentralized system be ahead which they cannot control just like that and just think about using bitcoin in buying icecream hassle isnt it? Unlike if we have still paper money , simple transaction.

A cashless society is really not all about Bitcoin and decentralized systems and I doubt more than a handful governments would want to incorporate that in their cashless policies. It should be made bare here that going digital or cashless does not necessarily mean transparency would follow. Bitcoin was only able to accomplish that much by way of the introduction and use of the blockchain and hashing algorithm.

Correct. Cashless is not just bitcoin or any other other crypto coin at all. We use cards any type or card where transaction is cashless. Everyone pays at least once with card so this is cashless transaction, person didnt pay with cash.

So anything that is purchases by credit card or electronic funds transferral rather than with cash or checks is cashless.

Yes, when talking about cashless society we are not only referring to cryptocurrencies and digital currencies. We are growing cashless as a whole but crypto is not the only major player in this sense. We have competition between fiat-based cashless transactions and crypto-based.

[PedroLinh]

A common measure of how close to a "cashless society" a country is becoming is some measure of the number of cashless payments or person to person transactions are done in that country. But cash can also function as a "store of value" just like commodities like diamonds, gold, silver, and platinum or real estate and antiques. Levels of cash in circulation can widely differ among two countries with similar measure of cashless transactions. South Korea has made the decision to end coins as legal tender by 2020. So if you conduct an all cash transaction you must forego any change in amounts of less than the value of the smallest banknote, ₩1000, or slightly less than US$1. This change will undoubtedly greatly increase the number of electronic transactions in the country, but the wide circulation of the ₩50,000 bill, the largest denomination banknote, will mean that citizens can still easily use cash as a convenient store of value.

[bubblebit]

The thing about security on us with bitcoin is that we should be careful of the phishers, they are making almost the same name of wallets that we are using and it's interface are really look alike. So if fiat has robbers then bitcoin does have it's hackers and robbers too but this is an easy thing if you are aware of those people, they can't really make you a victim of it.

I do get what you mean, but those things is avoidable and not life threatening. Criminals in real world uses force and even violence that is something can be dangerous to you and those you cared about. I imagined a bank teller with the bad intentions who knows your assets will give your information to a criminal syndicates, yes it is possible. But having a wallet that you and only you knows how much you have is what bitcoin really means. Phishing only needs awareness to detect but being robbed you need prayer to stay alive.

[BitcoinDefender]

Hope the cashless society will care about all those who are excluded from technolgy.    No change anymore. This will have consequences.

[Emem29]

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. 

it is not possible at least for next 10 years from now no matter how easy cryptocurrencies made the finance but still its scope limited to internet, Paying our bills through digital money or specific with bitcoin is less hassle.

[musharaf]

To bring change in society its take decades to happen that changes into real.
Cashless society will cause many problems in society and which can’t be handled. Still and still paper money will be needed.

[voztata]

This is possible, but this would be implemented by the governments.  This would result into fiat currency being converted to electronic currency. Generally, I think this will not result to the governments using cryptocurrency as most of those are decentralized. Something the governments don't want.

Mayne it is possible but we should consider the fact that before a cashless society roam all over countries , every state must acquire a fast and reliable internet connection in each every street of a certain place for bitcoin pay!ents and transaction will going to be happened cause I think it will not be successful if we cannot it simce bitcoin is a digital currency in which digital system is one of the fastest way to used it, and I thi k it will not be successful in the sense that who will finance it? And how about of those people who will stand for the fact that they will not used bitcoin in their lives, I mean theyre nkot into it?

It seems like most of you here don’t even know what cash means, and you’re just commenting whatever that comes to your mind. Cash is the physical form of whatever currency you’re using; even the world decided to Bitcoin, there must be a physical form of it. So it’s not possible for a cashless society.

[Potato Chips]

To bring change in society its take decades to happen that changes into real.
Cashless society will cause many problems in society and which can’t be handled. Still and still paper money will be needed.

yah it will take longer as the world and the people needs to change. they will just switch to cashless or electronic money to be more precise if it becomes a necessity? ii think it'll

become one if all countries technology improves to the point where almost everyone owns a certain gadegt, almost all living needs depends on it and of course a world wide free

internet. and in my opinion its too far from now. regarding criminal activities that op mentioned, for them to monitor our money, the coin needs to be centralized so maybe

bitcoin is not an option anymore?

[salihno71]

This would be utopia. Unfortunately, utopia can only function in a literature or in imagination. There is an essential need in (some of the) humans to be above the next man. Lately there is a lot of discussion about the universal basic income as the way to overcome bad effects of automation. This approach has several things common with the cashless society. We will soon see what are the effects of several experiments currently running.

[gotya1]

I hate the idea of a Cashless society. It's only an excuse for the government to spy on their people and control their money.

[Xylber]

cashless does not means moneyless, take care, the goverments knows everything you buy or sell, and can freeze your digital money at anytime. A dictatorship will be at hand, and you don't have weapons to defend yourself.

[jvdp]

I hate the idea of a Cashless society. It's only an excuse for the government to spy on their people and control their money.

But cashless society is made only by the Bitcoin raise not by the government and all.Actually give want cash society to dominate the People Economy. If the cashless society is made by bitcoin so,you are free from the government and it's rules. You will live like a free bird.

[megynacuna]

I hate the idea of a Cashless society. It's only an excuse for the government to spy on their people and control their money.

But cashless society is made only by the Bitcoin raise not by the government and all.Actually give want cash society to dominate the People Economy. If the cashless society is made by bitcoin so,you are free from the government and it's rules. You will live like a free bird.

Sure that will be the real breath of freedom but i doubt if the governments will give in so cheaply and so whatever be the case we should save enogh bitcoin to cater for any eventualities.

[tabas]

cashless does not means moneyless, take care, the goverments knows everything you buy or sell, and can freeze your digital money at anytime. A dictatorship will be at hand, and you don't have weapons to defend yourself.

It's not money less since you still have money in terms of digital thing or sort of microchip(RFID) where you can have all the information you need. And there's no way for other people to withdraw your fund unless you have some authorization to anyone that wants to withdraw your money. This is happening and this is the start of the conspiracies since 1970's and now it's for real.

[batang_bitcoin]

The thing about security on us with bitcoin is that we should be careful of the phishers, they are making almost the same name of wallets that we are using and it's interface are really look alike. So if fiat has robbers then bitcoin does have it's hackers and robbers too but this is an easy thing if you are aware of those people, they can't really make you a victim of it.

I do get what you mean, but those things is avoidable and not life threatening. Criminals in real world uses force and even violence that is something can be dangerous to you and those you cared about. I imagined a bank teller with the bad intentions who knows your assets will give your information to a criminal syndicates, yes it is possible. But having a wallet that you and only you knows how much you have is what bitcoin really means. Phishing only needs awareness to detect but being robbed you need prayer to stay alive.

Yes that inside job is really happening, since those tellers that are working in a bank are just receiving a fix rate of salary and what if they are in need and with those single information that they can sell to whomever will be his/her mate. But there are workers that are not into these actions as they have code of conducts and professionalism that is holding on their reputation. I'm pointing those hackers that really can breach the whole system of any company that holds your bitcoin.

[The_Dark_Knight]

Paper money and electronic payments existing simultaneously is a decentralized format. Paper fiat and electronic transactions compete which brings a type of balance.

Eliminating paper money so that only electronic payments exist would be a big step towards centralization.

Centralized formats go hand in hand with monopolies.

Monopolies tend to be exploitive and abusive towards consumers.

It could be a negative consequential chain of cause and effect.

I hope people think twice before committing to a cashless society.

But governments already have a monopoly on printing currency, in the past this was not the case, if you had gold you could create your own gold coins, but then the governments decided those minters of coins were not trustable and they will do that exclusively, and look at what they have done, casinos in the past began creating their own coins for their games because the government banned the use of their money for gambling and then when they realized what casinos were doing there was some persecution but eventually the casinos won and minted their own coins to be used there, and now bitcoin has appeared and it is going to give the right of creating currencies to everyone and take it away from the governments.

[Sled]

I think a cashless society is needed for a better world. Also not many trees will be cut down

What is the connection of the trees and a cashless society? The paper moneys are not from the tree that has been cut down, they are using special kind of papers that are only made for the paper money in our world. Cashless society is not a good thing to start right now because we still have poverty that is needed to be solved first.

[szpalata]

I think a cashless society is needed for a better world. Also not many trees will be cut down

What is the connection of the trees and a cashless society? The paper moneys are not from the tree that has been cut down, they are using special kind of papers that are only made for the paper money in our world. Cashless society is not a good thing to start right now because we still have poverty that is needed to be solved first.

Well I think he's referring to paper money being made from wood. I also think the rich and advanced countries can start ahead of the third world countries who still have poverty and unemployment issues to deal with so the cashless society wouldn't start in an instance globally but a gradual process in our communities.

[katrimans]

I think if humans without money for now can not be realized because not all over the world using the means of payment without money for example small shop stall that many spread on the edge of the highway, but in the future it could be a community without money so effectively and efficiently.

In my view, both the paper money and digital money are equally important in fact the worth and usage of paper money is far more than digital money. I don’t think so that this thing will ever happen. People still believe in paper money and they will never accept this concept of cashless society. This is possible that the number of people using paper money gets low in the future.

[bubblebit]

I think a cashless society is needed for a better world. Also not many trees will be cut down

That a good thinking right there, yes it can help to environment as well. Maybe some will argue about it but it’s reality and may also be prevented if we used cashless other than paper money.

What is the connection of the trees and a cashless society? The paper moneys are not from the tree that has been cut down, they are using special kind of papers that are only made for the paper money in our world. Cashless society is not a good thing to start right now because we still have poverty that is needed to be solved first.

I think you don’t know what your talking about, paper came from trees so don’t make a statement without thinking before posting. His reply have sense and it only shows how he give importance to our nature. Only close minded person will not agree to him. Poverty can’t be solve by any means because of rapid population rate.