Cashless society

[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. 

The society has no cash, I think this is unlikely. The blockchain attached to the technology. we have to implement a technological revolution around the world to have a society without cash. There are many countries in the world with poor technology.

Technology can be adapt, and sadly there are still many countries that not use any big technological let say upgrades.
Many still rely on the old fashion way of buying and paying, but most of the globe are using any type of cashless flow.
So this concept can be putted in motion but for realization it will take lot of time.

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[Jraf95]

Cashless society?
Maybe it's good for us specially theirs a lot of people who take the advatage when they seen a people who has a lot of money and then they hold it up or sometimes they kill for the money.

Thats why this will be good so that no people would do killing.

therefor sometimes this will have a bad in terms of network problem we can't do what we want if theirs a problem on net.

But i do believe that bitcoin will make a solution for that if this cashless society will applied

[PizzaBTC]

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 believe fiat relies on gold reserves and once government govern crypto currency or once someone govern it, it will ruin its main purpose of being decentralized.

In my opinion, till the time bitcoin will not be legalizes I think bitcoin will be having a very good era as it will remain independent till then. Once, the government declares it to be legal then things will be very much different like you said and then there will no more decentralized or tax free thing. It will be directly under the control of government and that is something alarming.

And for sure when it happens, then the charm and the fame bitcoin now have, will be just comes to end. Because the only thing that makes bitcoin is decentralization. And when government takes the lead and legalize it, then there will be a strong change in bitcoin features and that may not be accepted by the users.

[layoutph]

China, Korea, Russia has an upcoming digital currencies that we can trade along with our favorite coins. Probably we can trade it from Poloniex. And there is no doubt that these coins are centralized lols. Then expect coins to arrived from other countries.

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. 

[Fatanut]

Cashless society perhaps far from from actuality but it is attainable. When the assistance of the government will with the cryptocurrency then it will be attainable to have all transactions cashless.

As you can see, in first world countries it's almost a cashless society. Almost every store there is accepting card payments but they do accept fiat too. Most people enjoy paying with their cards because it's a lot easier and it seems more fashionable. On the other hand, third world countries barely have internet connections. In malls, you can use your card but sometimes the ATM machine itself is offline or the card reader of the store is broken. A lot of things have to be fixed first in order for the society to reach a truly cashless society. I think with the help of cryptocurrencies, this can be achieved. Every one owns a phone and if you integrate wallet to phones (which is what cryptocurrencies do) then people can transact easily with each other. This requires phones to have higher security and people have to take better care of their phones because it has their wallet in it. I think this is the only way to reach a cashless society because if you are going to transact with an individual, you can't use a card because goes around carrying a card reader (if that's what it's called).

[youdacapt]

Cashless society?
Maybe it's good for us specially theirs a lot of people who take the advatage when they seen a people who has a lot of money and then they hold it up or sometimes they kill for the money.

Thats why this will be good so that no people would do killing.

therefor sometimes this will have a bad in terms of network problem we can't do what we want if theirs a problem on net.

But i do believe that bitcoin will make a solution for that if this cashless society will applied

It takes hundreds of years to make it all, many manufacturing technologies can not be used by the rest of the world, if all are transferred to digital currency then we will see the game from the provider to raise the price higher. Cashless society are still fictitious.

[Dodoymabs]

Cashless society?
Maybe it's good for us specially theirs a lot of people who take the advatage when they seen a people who has a lot of money and then they hold it up or sometimes they kill for the money.

Thats why this will be good so that no people would do killing.

therefor sometimes this will have a bad in terms of network problem we can't do what we want if theirs a problem on net.

But i do believe that bitcoin will make a solution for that if this cashless society will applied

It takes hundreds of years to make it all, many manufacturing technologies can not be used by the rest of the world, if all are transferred to digital currency then we will see the game from the provider to raise the price higher. Cashless society are still fictitious.

Yeah cashless society needs a lot of things to be consider.Then many hackers will exist when this happen.Digital currency nowadays is really very helpful because of its fast transactions but we still need real money to roll.Cashless society for me still impossible.

[Flapjackz]

It will be difficult but i can see it coming alive in today's world.
Its good to have the best of both worlds however
Relying solely on digital payments would leave us vulnerable to
hacking or cyber theft or who knows what
We would need to revolutionize society and teach these kinds of things and have more awareness of this field for there to be widespread adoption

[Zenithar]

Cashless society?
Maybe it's good for us specially theirs a lot of people who take the advatage when they seen a people who has a lot of money and then they hold it up or sometimes they kill for the money.

Thats why this will be good so that no people would do killing.

therefor sometimes this will have a bad in terms of network problem we can't do what we want if theirs a problem on net.

But i do believe that bitcoin will make a solution for that if this cashless society will applied

It takes hundreds of years to make it all, many manufacturing technologies can not be used by the rest of the world, if all are transferred to digital currency then we will see the game from the provider to raise the price higher. Cashless society are still fictitious.

Yeah cashless society needs a lot of things to be consider.Then many hackers will exist when this happen.Digital currency nowadays is really very helpful because of its fast transactions but we still need real money to roll.Cashless society for me still impossible.

I think that in near future we even cannot think about cashles society, becasue cashless society can only be possible when all the people have good knowlege about online and digital currency and all the facilities that a fiat is providing us must also be present in cashless socienty which i think is not possible in present time.

[aardvark15]

The revolution of digimoney is already started it is growing day by day so max of cashless society it possible very near in future.

Do not confuse cash elimination with paper money elimination. Living in a society without paper money doesn't mean living without cash. Digital money is cash, Bitcoin is cash.

Living in a cashless society, on the other hand, means something else. It means living in a society without any of these possibilities.

It will be hard to go completely digital as long as there are people without computers or smartphones. One way to do it is to have your money linked to an identification card. Either way, it will take a while for us to go completely paperless. We are going in that direction though with credit and debit cards, PayPal, electronic payments from banks, etc. But it will be hard to completely transition to digital. It probably won't happen in our generation but it could happen in 50 years or so.

[e-coinomist]

It will be hard to go completely digital as long as there are people without computers or smartphones. One way to do it is to have your money linked to an identification card. Either way, it will take a while for us to go completely paperless. We are going in that direction though with credit and debit cards, PayPal, electronic payments from banks, etc. But it will be hard to completely transition to digital. It probably won't happen in our generation but it could happen in 50 years or so.

Earlier. Looking at china for example. But they got the wrong reasonings, and recently banned btc for that reason.

The real dream would be a society not only "Cashless" but without money. And paperless as in a sense without surveilance of expenditures and activities. Honestly we are on an errand regarding money in the best way possible. At least trying to free money from banking. But not people from money itself.

[batang_bitcoin]

Cashless society perhaps far from from actuality but it is attainable. When the assistance of the government will with the cryptocurrency then it will be attainable to have all transactions cashless.

We are heading there, microchip RFID's are now being tested and implanted to different types of people around the world. There are some in USA and in a company on Switzerland. Those microchips can be loaded with balance through bank accounts and by just simply scanning it we can transact conveniently and very quick with it. I'm guessing that bitcoin will be the modern currency and will be the money as the one world currency.

[stompix]

It takes hundreds of years to make it all, many manufacturing technologies can not be used by the rest of the world, if all are transferred to digital currency then we will see the game from the provider to raise the price higher. Cashless society are still fictitious.

So Sweden is a fictitious country, in a sf novel where only 2% of the transaction are made in cash?
Cashless counties are appearing one after other and soon all of the western europe will be cashless.

In my opinion, till the time bitcoin will not be legalizes I think bitcoin will be having a very good era as it will remain independent till then. Once, the government declares it to be legal then things will be very much different like you said and then there will no more decentralized or tax free thing. It will be directly under the control of government and that is something alarming.

And for sure when it happens, then the charm and the fame bitcoin now have, will be just comes to end. Because the only thing that makes bitcoin is decentralization. And when government takes the lead and legalize it, then there will be a strong change in bitcoin features and that may not be accepted by the users.

And users will move to the next thing, and the governments will have to move after them but it will take again 10 years for this.
And besides, when you say the government takes the lead...which government?
There is no world government (unless you are a conspiracy nut) and most of the times countries take years to agree on a trade deal, a control of a global currency would lead to talks that would span into the next century.

There is absolutely no way in which somebody can take control over a coin and control it and the users.
The moment they do this everyone is able to create it's own fork and the most used will become the next bitcoin.

[e-coinomist]

There is absolutely no way in which somebody can take control over a coin and control it and the users.
The moment they do this everyone is able to create it's own fork and the most used will become the next bitcoin.

Whooops! You just opened a can of worms there, since we experience that effect right now.
Bitfines offering chain split tokens, and stuff. Bitcoin "Gold" fork this month. A fork a month basically, exceeding Ethereum even.

Vitalik got that advantage above Satoshi of still beeing alive. I know BTC tanks whenever a Satoshi pops up in the news, but on the long run we need him back again.

[evgeniyosda]

Modern society with out money is a modern society without having independence, because you can only behave in accordance to the boundaries of the technique. If you wanna be minimal by technique rulers more than at any time, support the abolition of money, it's a main action.

[Livictere1958]

We need to diversify between a cashless modern society primarily based on decentralized crypto currencies or based mostly on government controlled strategies like Fiat cash credit history cards.A government managed cashless modern society would be a nightmare simply because the technique could totally manage almost absolutely everyone, although a decentralized crypto forex based cashless culture jointly with anything else bodily and worthwhile would be a aspiration for most individuals.

[_Dawid_]

I have wondered and I think that we have already part of that future in our lifes. A lot of people use debit card etc. It is only a certain peroid  of thime when they will start using digital cyrrency. The idea with digital fiat currencies powered by blockchains and managed by goverments is quiet possible, but more likely is that great companies will create their own coins.(like burger king tried in russia?)

[omega14]

yes. because some of the nation is implementing "radio frequency identification" on the forehead or right hand (RFID) for not using the money or not carrying the credit card. because all information is within the body. so I believe the cashless society will come.

[ausbit]

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. 

The society has no cash, I think this is unlikely. The blockchain attached to the technology. we have to implement a technological revolution around the world to have a society without cash. There are many countries in the world with poor technology.

This is possible in present world and in near future as well. A society that is totally dependent on using plastic money and digital currencies is possible. The maintenance of the cash needs a lot of arrangements. Printing money is another hectic tasks.

Too much money can make you a suspicious entity for the government and other agencies. Cashless society will be a blessing.

[AmXProX]

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 sounds like its going back to the past where people are using barter trades, no cash they are just trading goods for another goods that they want. no one is manipulating the trade no governing body is saying if the trade is fair or not.

It almost the same with crypto people who are involved are the one who is determining if the trade/exchanges are fair based on their trust or belief.