Cashless society

[Fatanut]

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.

Money is not equal cash. Money can be in different forms. It can be in digital form. I think the 'cash' being discussed here is the fiat money that we have. It's the physical one. So if you are using credit or debit card to pay for something, you are not using fiat money at all and you are part of the cashless society. The population of people using card is growing because it's a lot more convenient. Sometimes if you pay with cash, some money slips off, you miscount the money, and end up paying more than what you have to. Of course not all cashiers are honest enough to give back the exceeding amount of money especially if the cashier is the store owner himself.

Cryptocurrency can also be considered as money (since it's a currency). So people are not necessarily going to trade a cow for a pig. No medieval stuff like barter trade at all.

[illicit]

 it’s fun to imagine a world without cash. Liberated from the burden of physical currency, we could make purchases from the convenience of a mobile device or simply by using credit or debit cards.

A few countries in the world have started adopting this new way of life, mostly European countries. In our country, some of our daily financial transactions are also beginning to conform to the new way of doing business, similar to a cashless society, such as the use of credit cards, e-banking, online payments and others.

[coynedterm]

it’s fun to imagine a world without cash. Liberated from the burden of physical currency, we could make purchases from the convenience of a mobile device or simply by using credit or debit cards.

A few countries in the world have started adopting this new way of life, mostly European countries. In our country, some of our daily financial transactions are also beginning to conform to the new way of doing business, similar to a cashless society, such as the use of credit cards, e-banking, online payments and others.

I think this is going on already in the current time where people are using online payment directly .
Here is myself is using every payment online because of the ease of access and also here is am making the use of every payment system .But here a big problem is that I can't use the bitcoin or another cryptocurrency Because all these are just a matter of stupid systematic mind of the old thinking people . I didn't found any people in my city where anyone can accept Bitcoin like another cryptocurrency as a payment .
So here I think it will be a better future in the incoming days where we will get many things to make buy and sell without the conversion of one currency into another one .

[usorin]

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. 

That is true, our lifes would be radically changed. Regarding the criminality, in wont be less, it will take an other form, let's say that there will be more hackers outhere. There are a lot of advantages of a cashless world like, no more printing, no safe deposits, even the wallet will become smaller so there are a lot of industries to be affected (paper/plastic and printing industry, security and constructions, taylors and the list goes on) so i suppose that in this configuration there will be a lot of unemployment. You never know how it's best for all.

[KEPLER99]

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.

Cashless society is very much difficult to happen. In my opinion, bitcoin has its own place in the world and paper money has its own place. There is no way that all the people living in the world start using bitcoin and stop using paper money. There will remain so many who will find it very much convenient to use paper money as compared to that of bitcoin.

[TheGreatPython]

Today we cannot imagine how much it will effect our society.
1. crime:
there might not be the traditional crime we are used to because robbing a bank would be useless. It would change into an other sort of crime like robbing people directly. in fact everyone has all their savings at home, unless something else gets developed.

2. economy:
If bitcoin gets the new all-around-the-world currency alot of people would lose their jobs but on the other hand maybe even more jobs get created by the new economy system

3. convenience:
i think people would get more lazy because everything would be more automated and you can do everything without moving your a** off the couch. It is bad today but i guess it could get even worse.

Yes it is true. Many people neither can nor suffer cashless society because they need very less money for their day to day necessities and to pass their time respectfully. While cashless society means all the paper currency has converted to digital currency and the approach may be not so easy to buy and use digital currency in this day and in the near future. Therefore I think it will be very difficult to handle cashless society.

[meliodas]

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. 

A cashless society is possible because right now, we are using internet to buy some things that we want. So, it is not impossible that in the future cash will no longer be used to any transactions. Just like what we do in bitcoins.

[cramcram21]

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. 

For me I would definitely be happy to see it,
But I think it could never really happen and maybe if it does maybe there would another be a crypto currency that would surpass bitcoin,

[KennyR]

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. 

A cashless society is possible because right now, we are using internet to buy some things that we want. So, it is not impossible that in the future cash will no longer be used to any transactions. Just like what we do in bitcoins.

More possibilities are available for a cashless society. As a beginning now more applications were getting used for payments and other forms of transactions. Little by little bitcoin might get used to make cashless society more effectively functional.

[Bohxz M4p4gm4h4l25]

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.

Well I dont think so, due to the fact that bitxoin is so volatile we cannot have a 100% assurance that it will be the same price as it is, it is good if it raise but what will happen if it dumped? Probably all of the goods will frequently change its price and additional hassle for us, and most of the saying it will never be a good proposal worldwide, the loss will occur in each everyone of us.

[adiksau0414]

Well, now its possible because as of Dubai news, they are going to the World's first blockchain government. Thats a really good start for cashless society. Hoping that other progressive coutry would follow Dubai's footstep

[tylerderden]

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. 

bitcoin is a new substitute of cashless money.
Cashless society is still looks like a dream.  But we can't deny from its benefits.
In a Cashless society,  a person can not need to carry cash always with them they can go Cashless and whenever need to payment they can pay by bitscoins or any other crypto currencies.
Cashless has its own benefits.  As banks give different discounts on Cashless payments.  And on using atm and debit card.
Cashless society will delete the fake and robbery attempts.
Cashless society will eliminate the corruption and helps in economy.  Economic development will help to raise the standard of any country's.
Anyone can go anywhere and don't need to carry that country currency.
It will radically transform the meaning of economy and development.  It will be a finest step towards the upliftment of society.

[Sythyn]

"The decision on which is the best cryptocurrency token is best requires doing a bit of homework. If somebody is offering cryptocurrency tokens to raise capital for a business that trains firefly’s to dance the Mambo, you probably want to look elsewhere."

Read the full article about RISK, on Blockchain economy, on https://medium.com/@silentnotary

[Asawakobana2017]

Cashless society using bitcoins. It is good to know that we live in the world of technology now.

A cashless society is still far from happening, if you can notice it right now, bitcoin is just accepted by some countries, cash or fiats are still circulating in our societies and it will be circulating our societies for another hundred years before the digital currencies became a threat to fiats.

It will be hard to implement new things especially when it been part of the culture and daily lifes, adjustment will took too long and will be impossible since most often there are more who countries that are not avanced unlike other countries.

Your right. A cashless society? Their is a possibility to implement it. But it will take many time or year to make it possible and its up to the people. People have there own opinion and choose were they like to live in a cashless world or not. Because At the beginning we been using cash for too long history and it been part to daily life and culture.

[West0813]

I don't think this will happen. We need gadget in order to make transaction to others. But how can the poorest of the poor can buy a gadget to use if they cannot even buy their foods.

[The Alchemlst]

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 wish this would happen, imagine a cashless society that uses only cryptocurrency and how internet would be everyone's basic commodities or maybe free all throughout since it has to adapt to online payment system everyday. I think paying market and services would be seamless that time. 

[Theb]

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.

Well I dont think so, due to the fact that bitxoin is so volatile we cannot have a 100% assurance that it will be the same price as it is, it is good if it raise but what will happen if it dumped? Probably all of the goods will frequently change its price and additional hassle for us, and most of the saying it will never be a good proposal worldwide, the loss will occur in each everyone of us.

I don't think so there are things that should remain where it is until now, and that is Fiat currency we should not look for other alternatives for it being replaces. Right now a criminal doesn't need to hold a gun and rob a bank or a person, what they are holding now are keyboards and computer and has a high chance of getting away with it. By being a cashless society we cannot avoid that from happening as everything will go on an online transaction now, everything will be virtual everything will be easier on their part.

[gyu22]

I have imagined the world's economy as a cashless society and I agree it will be possible in the foreable future, but I do not share your thoughts about the advantages in reducing crime. Crime will find other means to abuse people. On the other hand, the absolute control by of digital fiat currencies manages by governments makes me scared, especially if citizens have to bear implants. Hopefully, if digital fiat emerges people will use altcoins to try to be free and trade honestly.

[Fatanut]

I don't think this will happen. We need gadget in order to make transaction to others. But how can the poorest of the poor can buy a gadget to use if they cannot even buy their foods.

I don't think you have to think about them at all. In every upgrade in the trend, there will be people lagging behind. They can't buy foods, then they have to work on that first before they buy a smartphone, right? Right now, we all have iPhones or some flagship Samsung phones, but if you take a look around, there are still people using fake phones from China or a basic phone that has a keypad and don't even have a camera. Even if they can afford food, they probably are not going to spend money on a smartphone just so they can join the cashless society. But that's just in third world countries. In first world countries, even homeless people have smartphones. It's only a normal thing to them to have a good smartphone because of their economy. They already evolved a lot more than other countries. I think that cashless society will happen first in first world countries and then the world will become 100% cashless once the third world people arrive to the point when standard phones aren't used by people anymore.

[crazykill182]

I think that it will be possible but theres some poor society which cant afford this kind of evolution.
As current flat currency dont change its value within a society its better for them to used it and it can also use it to pay for some small payments. While also using a digital currency can be good to process without having a physical money, nobody knows how much you have except if they saw the current amount you have,  you are much less target for robbery.