Cashless society

[bitctrimor1]

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. 

Great point and topic. I think that it could be possible to reach such a state. However, I think there should be a lot of advancements first technology-wise. Also, before people to fully embrace such future, governments or other institutions that would carry such digital currencies would have to provide for a near perfect safeguard for people to be convinced to transition from using cash to e-currencies. It will surely be transformative if that happens; however, the aspect of criminality would always find a way to take advantage of people. Hackers and online swindlers may proliferate since money is basically stored only in digital banks or wallets. I don't want to be negative but there will always be people, who would try to push their luck and use any means to have it easy. Having said, I think the possibility of cash and digital currency to co-exist is much more possible that a total cashless means of dealing.

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[Bonakid]

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 we exist the cashless society now maybe there are some criminals activities that can avoid like using mobile phones by digital currency no paper money in our pocket just our mobile phone.As we encourage others for digital currency I think it can avoid corruption and other dirty hands from the  government if we implement this.But for some reason we need an internet connection in everywhere we go to use the digital currency worldwide.

[GreenBits]

I think there will always be a use for currency pretty much, but i can see paper money going away in the near future, just like paper itself for the most part. Everything, almost everything, will be digital and done on computers.

Tons of research (look in Google scholar by searching the word “pain of payment”) has shown that people behave sensibly when parting with cash. However, while paying with card, this pain is reduced since the notional amount of money is transferred and not actual currency. In such situation, people tend to overspend and can get into hellla debt very quickly. This is the primary reason all debt counselling services recommend using cash only methods. 

[stompix]

A cashless society is possible because of bitcoin. We have to accept the fact that we can already pay anything with the use of internet. So, due to the fact that internet is another world we can definitely generate a policy that involves bitcoin as payment.

A cashless society is possible even without bitcoin.
I'm getting tired of mentioning that we already have a live example in Sweden where less than 2% of all transactions are made in cash.

Great point and topic. I think that it could be possible to reach such a state. However, I think there should be a lot of advancements first technology-wise. Also, before people to fully embrace such future, governments or other institutions that would carry such digital currencies would have to provide for a near perfect safeguard for people to be convinced to transition from using cash to e-currencies. It will surely be transformative if that happens; however, the aspect of criminality would always find a way to take advantage of people. Hackers and online swindlers may proliferate since money is basically stored only in digital banks or wallets. I don't want to be negative but there will always be people, who would try to push their luck and use any means to have it easy. Having said, I think the possibility of cash and digital currency to co-exist is much more possible that a total cashless means of dealing.

As I said before.
The western countries have everything that is needed for a cashless society.
And all those fears of hackers have proven to be a myth, there was no growth in hacking but instead there was a huge drop in robberies especially wallets.
Nobody is going to try stealing you credit card when with a simple call you can block it.
Besides there is no point stealing one as in Sweden you can't get cash from it in most location, and going to a store and showing your face with a stolen cc is not a bright idea.

[doraegun]

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. 

Well, we cannot deny the fact that there is a time when all our paper money will replace with digital currency. Everything will adapt to the needs and changes in our society so do our currency; but in this situation, we must consider some possible problems that we can encounter. We need a faster internet, there are some countries that has slow internet and this can be a serious issue that is very important to solve as soon as possible.

[Freshmen]

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 of bitcoin. We have to accept the fact that we can already pay anything with the use of internet. So, due to the fact that internet is another world we can definitely generate a policy that involves bitcoin as payment.

I don’t think so that will ever going to happen not even after a long period of time. Paper money has its own value and importance and there is no way that we can deny the worth of paper money. There will always remain number of people who will keep on using paper money and will no switch over to digital money. Digital money has its own importance but it cannot eliminate paper money.

[KEPLER99]

I think there will always be a use for currency pretty much, but i can see paper money going away in the near future, just like paper itself for the most part. Everything, almost everything, will be digital and done on computers.

I don’t think so that it will ever going to happen. There will always remain so many amongst us who will not be having any kind of awareness about digital money. Moreover, this paper money is being used across the globe since centuries and there is no way that we can experience a cashless society. In addition to this, paper money will remain at its very own place no matter what the circumstances are.

[gabmen]

I think there will always be a use for currency pretty much, but i can see paper money going away in the near future, just like paper itself for the most part. Everything, almost everything, will be digital and done on computers.

I don’t think so that it will ever going to happen. There will always remain so many amongst us who will not be having any kind of awareness about digital money. Moreover, this paper money is being used across the globe since centuries and there is no way that we can experience a cashless society. In addition to this, paper money will remain at its very own place no matter what the circumstances are.

Right. It would be nice though to see a future where cash isn't rrally required. The convenience of most transactions, the ease and the quickness. But i doubt that it's ever going to happen. Even with all of cash's flaws, it's still very important and there are situations where you won't be able to use digital

[polymerbatt]

I think there will always be a use for currency pretty much, but i can see paper money going away in the near future, just like paper itself for the most part. Everything, almost everything, will be digital and done on computers.

I don’t think so that it will ever going to happen. There will always remain so many amongst us who will not be having any kind of awareness about digital money. Moreover, this paper money is being used across the globe since centuries and there is no way that we can experience a cashless society. In addition to this, paper money will remain at its very own place no matter what the circumstances are.

Right. It would be nice though to see a future where cash isn't rrally required. The convenience of most transactions, the ease and the quickness. But i doubt that it's ever going to happen. Even with all of cash's flaws, it's still very important and there are situations where you won't be able to use digital

It will happen in the future, there will be a day when people will not use paper money again and using a card or a QR code on their phone or something else for their transaction. The problem is it will takes time for "3rd world country" to apply cashless society in their country.

[Text]

Nothing is impossible indeed. We are now high-tech and modernized, because of technology innovation we can create system to make things easier, faster and more convenient. So cashless society can happen in the future, it will be replaced totally by ATM cards and digital currencies.

[eann014]

It is also good but I think a big adjustment for us since we are all used to have cash in our pocket. I think if we will have a cashless society it would be going to be hard time for those who doesn't have an internet connection since bitcoin and other alt coins needs to have an internet connection before we use it. Maybe it is also not a good idea for everybody in the world since in our country, internet connection has a slow connection and we cannot access free internet connection outside.

[drm]

Cashless society sounds good but will never be a reality, how else will governments suppress their people. 

[dancingnancy]

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 does have it's perks, but in the long run cash money will always be more preferred. Take a real paper map and GPS as an example, if there's no network you can still rely on the paper map or in this context money. Digital currency is very useful, but only if the access is to everyone.

[fabrizoc]

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 of bitcoin. We have to accept the fact that we can already pay anything with the use of internet. So, due to the fact that internet is another world we can definitely generate a policy that involves bitcoin as payment.

I don’t think so that will ever going to happen not even after a long period of time. Paper money has its own value and importance and there is no way that we can deny the worth of paper money. There will always remain number of people who will keep on using paper money and will no switch over to digital money. Digital money has its own importance but it cannot eliminate paper money.

We all know this thing that future is quite uncertain. You can expect anything to happen in the future. Anything can happen in the coming days. In my opinion, there are likely chances of this thing to happen. You can experience a cashless society but it will not happen in a year or two. It will in fact a long period of time for the people to accept this new currency. You can always hope for the best.

[ChiIIBouIder]

Blockchain technologies are a break through  revolution for digital money, yes

[HeyYouNotYouYou]

Cashless culture is really a great idea so that the particular government authorities could take control of their economy and citizens money transactions.But actually,it seems impractical to apply for atleast now.Many are illiterate all over the world.They're found in all nations.They have no understanding of digital transactions.Nor there is a bank account,nor there is a charge card or bank card.All they know is only the paper cash that they could hold within their hands physically.In indian,recently the federal government tried to ban quality value notes and using this method,it tried to turn individuals to cashless dealings.But individuals even endured with out paper cash,but majority of individuals didn't change to cashless dealings.It was a big failing in india.Other countries aren't any much more different from india.So,it might be not practical to try to produce a cashless culture.

[nagatraju]

I think it's too early to say that the society will completely give up cash, because many in poor countries don't know how to use electronic money yet and even afraid of them.

[monoculture]

There will need to be a lot more architecture and infrastructure in place before a complete transition can happen, but resistance to the concept of a cashless society might not be as difficult as it seems. While it varies between cultures, where some countries still very much require individuals to carry cash around with them at all times, there are many places now where you can get around each day just fine with a credit card. Though the implementation and back-end is quite different in this analogy, the actual daily use and experience of swiping a card (or even using your smartphone) will function identically for the most part given a fully cashless society.

[ruslango]

I even now feel cashless society is like an world wide web with no neutrality.The next ISP's are in a position to self control, they'll likely use their monopoly place to increase costs, boost expenses, throttle bandwidth and engage in other profiteering actions knowing total effectively they can get absent with it. ISP's obtaining full handle in excess of the telecom industry and its regulation is a negative factor.The second banking companies have their cashless society, they're likely to employ their monopoly to do extremely equivalent factors.

[Charisse1229]

I think it is possible because our society now is become a bigger improvement, i think in the year 3000 no one can have a cash. there are many places now where you can get around each day just fine with a credit card there are likely chances of this thing to happen