Cashless society

[Fretcy]

The increased use of digital currencies around the world and mass adoption of bitcoins and other crypto currencies will bring the world to a cashless society which is for the betterment of the people and the world as a whole, cashless society will help to curtail robbery, identity theft caused from credit and debit cards, one of  the biggest advantage of digital currency is duplication of digital currency is not possible unlike fiat currencies. Every day new user's are entering the bitcoin market which is one of the reasons for the booming of bitcoin price, mass adoption of the bitcoin and crypto currency technology will help people to travel all over the world with one digital currency without having to worry of taking huge amounts of money on hand. Now a days most of the central banking systems are adopting this blockchain technology which will bring more digital fiat currency to the world which is easy to use worldwide.

[elash]

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 our society is cashless there is no banks, lenders, investors and etc. and the growth of economy is unidentifiable because if the society is cashless therw is no circulation of money in one nation. Maybe if the society is cashless the society is in barter system which is exchanging the object to object and food to food or gold, silver and bronze to the anything they want as an exchange of it. This is our history when there is no cash this system is what they used.

[resty]

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 is really much comfortable for individual but for the ability of many people for doing this is just minimal this time. Hoping for the next twenty years all country would be pursuing to  make an effort to do the digitized  transaction for all  time.  

[azguard]

In the world of economic cashless represents paying with credit or debit card, with cheque or electronic methods rather than the use of cash. So with this statement we could say that we are in pretty much cashless world. If we count into this all the cryptos we could say that more then 50% if not more are being done cashless and there for we are in cashless society.

[hannahB4]

Seriously, this is where the economy is going to but when this is achievable I can't say. The advantages of having a cashless society is more than its disadvantages. For instance reducing theft and criminal acts.

[Sled]

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 is really much comfortable for individual but for the ability of many people for doing this is just minimal this time. Hoping for the next twenty years all country would be pursuing to  make an effort to do the digitized  transaction for all  time. 

Next twenty years will be enough for the countries to adjust their financial or payment system because i believe that in the future, cashless society will bring a lot of benefits to the people like ease of paying bills or purchasing things without bringing bags of money or thick wallet because you can go all out by just having smartphone in your pocket.

[gotya1]

In the world of economic cashless represents paying with credit or debit card, with cheque or electronic methods rather than the use of cash. So with this statement we could say that we are in pretty much cashless world. If we count into this all the cryptos we could say that more then 50% if not more are being done cashless and there for we are in cashless society.

That is true, but at the moment we still have cash and can use it just as easily as the other methods (assuming you're in person). At some point though that may not be the case, and that's what I'm worried about.

[Pasaway2701]

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 is really much comfortable for individual but for the ability of many people for doing this is just minimal this time. Hoping for the next twenty years all country would be pursuing to  make an effort to do the digitized  transaction for all  time.  

Cashless might be comfortable to use. No one notice how much you carry everywhere because it can only access only being a cashless society is hard. There are some location that do not have any internet access. What if there get a breakdown in the internet, people cannot leave without money. There are many advantages and disadvantages of being cashless society.

[nagatraju]

I think this would take lots of years and considerations by politics and bankers. This would be a new paradigm for everyone, so it has to be studied before moving to a cashless society. And with digital currency you get all the risks you have with the digital world.

[Altas]

Cashless society is possible, but for the same each and every people in a country needs to be educated. Because at present there are people who doesn't have any understanding as well haven't used a card. At this moment thinking of cashless society is something a tedious task.

[RenegadeMind]

Bitcoin is cash.

You either have it, or you don't.

[mylyn2327]

Cashless society sounds so good but i think it will run many years before it happens. It possible but i dont think everyone will not fully understand about it yet and also some people are afraid, like having cards because they think it will cause them harm. Especially nowadays there's alot of people who are into scam and doing bad against weak people. But Looking on its bright side it is hassle free, like how i use now i dont need to carry big amount of money to buy expensive thing, just using my card, i dont need to trouble myself. 😃😃😃

[azguard]

In the world of economic cashless represents paying with credit or debit card, with cheque or electronic methods rather than the use of cash. So with this statement we could say that we are in pretty much cashless world. If we count into this all the cryptos we could say that more then 50% if not more are being done cashless and there for we are in cashless society.

That is true, but at the moment we still have cash and can use it just as easily as the other methods (assuming you're in person). At some point though that may not be the case, and that's what I'm worried about.

Yes we always have cash, cuz we have stores that are still not accepting above mentioned payment methods. But if we look globaly we are more in cashless payment then real cash payment. Some research indicated that people buy more on credit card then on any other payment method, and we from time to time exchange bitcoin to real cash.

[helen28]

In the world of economic cashless represents paying with credit or debit card, with cheque or electronic methods rather than the use of cash. So with this statement we could say that we are in pretty much cashless world. If we count into this all the cryptos we could say that more then 50% if not more are being done cashless and there for we are in cashless society.

That is true, but at the moment we still have cash and can use it just as easily as the other methods (assuming you're in person). At some point though that may not be the case, and that's what I'm worried about.

Yes we always have cash, cuz we have stores that are still not accepting above mentioned payment methods. But if we look globaly we are more in cashless payment then real cash payment. Some research indicated that people buy more on credit card then on any other payment method, and we from time to time exchange bitcoin to real cash.

And it is a good thing for all of us our life has become more easier nowadays that we have some alternative to cash as use for payment etc. So it is not surprising anyway if we will have bitcoin as our future currency as we can see we are adapting cashless nowadays and it has been very helpful in our daily life and business.

[Awes0musMaximus]

So as to do this,  we must finish povery very first then alter the education about cash and finances. Not only that,  we have to force technology-illiterate individuals for doing things. As dreamy as it is, it can't finish well

[yusupjatigumilar]

Along with the advancement of time and payment technology in cash is now starting to decrease a lot of people have turned to payments based on electronic money technology more practical and safe, but this is not fully can be done optimally in my country there are only some methods of payment that must use the money electronics such as toll booths to speed up transactions and reduce congestion when queuing in tolls, in addition to electronic money can reduce the state budget in printing money and can be used for the construction of other facilities.

[portotoi]

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 in the future is a cashless society then it will be a great thing that will happen. Imagine that in every transactions has a record then all illegal transaction can be monitored and be identified and that helps the crime prevention and crime solution in this world.

[plaintiff77]

This idea would be great. Cashless society is very convenient though. Transactions can easily be accessed specially if you use bitcoin. Everything will then be done in a flash.

[vinz7229]

I cant see that in the near future, Bitcoin can access everywhere as long as you have internet connection, but the problem is even though you make all safety precaution just to protect all you store Bitcoin, still their is a tendency to hack your account and you cant do anything for that unlike in the bank you have the assurance that what ever happen you can still get your money because of some laws abide from it, so I think people rather use to access their money in cash than doing all their transaction online because it is so risky specially to those people who have limited knowledge in using internet.

[mifanmuzny]

This concept is not far from being a reality. Because so many people are accumulating and getting used to bitcoins now. Just think after they go mainstream like they said there will be a whole episode about bitcoins in big bang theory tv series. This is gonna be awesome.