Cashless society

[coinweez]

This  can be possible but not in the near future and the government cannot be sidelined that easily one way or the other they might look for a way to manipulate the digital fiat currency

[Kuya Kim]

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 think this can happen in the future specially now that bitcoin is gaining much popularity and reputation which may lead it on becoming the world currency in the future. I cashless society will surely be different but all of us will surely adopt on this big change. It may cause convenience to us but it can still cause detrimental outcomes for many. We don't know yet but let us hope that when that time comes, everything will be fine.

[Rrtt]

We are in the process of converting to a cashless society. We already have ATM cards which we can use shopping is one example.

[izzabel]

It can be possible if there are no good/samart government to handle our country nice

[warawolf19]

A cashless society describes by tushar Raghav an economic state whereby financial transactions are not conducted with money in the form of physical banknotes or coins, but rather through the transfer of digital information (usually an electronic representation of money) between the transacting parties.Cashless societies have existed, based on barter and other methods of exchange, and cashless transactions have also become possible using digital currencies such as bitcoin. However this article discusses and focuses on the term "cashless society" in the sense of a move towards, and implications of, a society where cash is replaced by its digital equivalent - in other words, legal tender (money) exists, is recorded, and is exchanged only in electronic digital form.

[Pattart]

I agree if the digital money system can not be manipulated. My concern is oversupply because the demand for digital money is so cheap.

I guess one thing about digital currencies is, it is decentralized and the way I see it, it will be hard to control digital currencies except if they have sufficient technology for it. In a certain country there will always be the low class society on which they can't afford to have the technologies we need to fully implement a cashless society.

First digital currency is not just bitcoin or cryptocurrency dude. I think digital currency is easily controlled because the government will be easy to monitor the transactions made by their community and besides that I agree with you that every country must have lower class society and they will not understand with technology? how can cashless be implemented throughout the community if many people do not understand about technology?

[johnalyn]

I think I also agree with that if the government acpet that deal with no more cash to use but for now I always use a cash to buy things here because here in my country doesn't have yet a bitcoin shops.

[Shint]

It could be a great thing that will happen if everyone could accept these changes but it is not possible right now because our current technology is not that yet advanced and some people doesn't really know how to use computers, so it will be down to a huge debate.

[douhancan58]

China's alipay has been advertising all over the world, and many countries have supported alipay in many countries. Mobile payments are everywhere in China, and you can see small booths with qr code mobile payments! I hope that bitcoin will be legalized in China sooner, so that mobile payment will have more choices, and the cashless society will become a reality!

[lutfi-hasan]

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 think people without paper money will greatly affect people from small people in the presence of digital currency, but people should be able to accept it because it must follow the times. then people should understand the change because they understand the previous thing about the currency from barter, coins, banknotes, plastic money or debit cards. Therefore people should receive or understand digital money in the future.

[Granxis]

Digital currency really accelerate the development of no cash, in China, due to various quick mobile payment, mobile payment development soon, go out with no cash, with a mobile phone can completely meet the requirements of payment. The hope is that digital currency will be legal in China, so mobile payment will be more convenient!

I do not believe Bitcoin can be spent directly, even if the debit card and Bitcoin payment systems are developed, it will not be used as a payment method due to Bitcoin's transfer fee, and it takes at least 15 minutes to get at least 3 confirms.

[Omega Weapon]

I think this is a sad thing. The current economic gap between countries is very high, in developed countries ordinary people spend $ 1000 per day while in developing countries people spend no more than $ 10 per day.

This is an exaggeration even in first world countries, people cannot spend 1000 dollars a day, only a few people like doctors and businessman can earn that amount of money, every one else is earning way less than that and there are many people surviving with that amount of money for a full month so before thinking that everyone in the first world is rich stop and think because that is not the case.

[bechay20]

Yes of course. I already wondered hwhat will going to happen on our economy id there's no cash. Well, negatively speaking, there are some who thinks that we might not survive. Yes it's true, definitely true. But, positively speaking, come to think of it, when time comes that there will be no cash, we might attain our desired unity. Yes, because of unity, we will be able to survive. By sahring good, to one another, good for free that could make another products that we can also see in our present time. You don't to worry. Let's just work as one, and believe me, there'd be no chaos at all.

[binting]

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 may happen when the reign of a society is corrupt. Be able to do the appraisal. People experience excessive hardship and Super hungry. Be difficult for youth the next genaration because they shoot so much poverty.

[Arz26]

A cashless society is a long long process we should have the electronics for the credit card, cheques and etc.  In every society the government should be well planned on how to impose for cashless society.

[todiefor17]

I'm not advocating that money is passed in non-cash form. I am a supporter to cash back in those days when the government could not print more money than he has in the presence of gold and any Bank had to change them for gold. Maybe someday we will see gold bitcoin. Then it will be the strongest currency in the world.

Yes, I used to think that if a social day does not have cash then what will happen, Cash is known to people around the world as a common currency to trade popularly, but now money Virtual is the trend of the new age. and Bitcoin is the strongest

[Abiky]

Yea keeping something on device can be good thing. We all have smart phones and this can be good for anyone to take this seriosly, but most important is to government to accept this and to try to implement this technology in every day usage.

This could be good for all if this someday comes to life, and like you said printing for fiat wont be necessary anymore we would keep green enviroment.

Yeah. It will be something convenient, and it would save a lot of costs (not to mention that digital money is environment friendly). If all the people around the world get used to cashless payments, then governments would've started rolling in digital currencies at a faster rate than what it is right now. All that is needed is the proper education, to introduce as much people as possible into cashless payment methods such as cryptocurrencies, to pave the way towards a cashless society in the future.

With this system, you can store any amount of "digital money" into your device without having to carry bulky stacks of banknotes all around you. With cashless payments, you get security, convenience, and portability allowing you to travel to different places in the world and access your money easily.

I hope that with the advent of DAOs, DACs, smart contracts, and digital fiat currencies in the mainstream world, we could achieve a cashless society that would greatly improve the economy of the world.

It's transparent in the sense that everyone and anyone has the ability to see the ledger and verify that transactions have taken place or that certain addresses hold the funds they maintain they do, and that proof of ownership or control can be published and independently verified. Also that the source code is open source and verifiable. Transparent doesn't mean that anyone can see who is making transactions at all times, which is also true of cash, which is anonymous in nature, so there's no real change there. In theory then, Bitcoin is an improvement from cash because it is more transparent in how it is created and who controls the creation of it, and there is no discernible difference in the anonymous nature of the transactions than there is from cash.

True. The transparency of the blockchain allows any external entity to verify the authenticity of the transactions, the balances associated with an address, and more. This kind of system could prove useful for governments in establishing a cashless society as it gives them the power to track over any transaction occurred within their blockchain. It will greatly reduce criminal activity such as money laundering, as every single transaction made on the digital fiat currency's ledger would be visible and trackable by the government.

Because of this reason, I believe that a cashless society is bound to happen soon. It has already been introducing itself with the advent of cryptocurrencies, and it will slowly transform our world as it integrates itself into central banks and governments alike. Just my opinion

[surgical_duude]

Abiky i believe a paper currency less society is possible but not in the recent future. First of all this will require universal free internet access which will not be possible until probably thirty years time that is even if the developed world is ready to make sacrifice to help the less endowed get to that le

Yes, certainly this will happen in the future, but cash is currently the most popular currency in many countries, but virtual currency is growing and gradually makes little use of paper money, I think not long There will be no more paper money

[vanlaya]

điều đó không phải là không thể. nhưng Cryptocurrency cần được chính phủ của tất cả các nước đón nhận và thêm nữa là vấn đề sử dụng internet cần được miễn phí để mở rộng được ra các tầng lớp nghèo  vì chuyển nhận btc không phải cần có internet sao

[Chikitita2004]

it is possible, but it will be hard. Countries with advance technology can afford to make it a reality but in poor countries where most people can't even afford to buy gadgets and don't have any access in internet, it will be impossible for them to make it happen, especially that there are lots of corrupt government in these country where they don't want their transactions to be tracked.

It is true in first world countries there is a big possibility for them to provide a cashless society because they have the right amount of technology for it and their poverty rate is low unlike in third world countries where in their technology isn't always updated because they can't afford it. They also has a high rate of poverty where it it will be hard for them to have a cashless society.

Well, nothing is impossible. If crypto can make multi-millionaires in some of those third world countries, it is not far they be upgraded also in their technologies and be one of the cashless societies. As i see them i am so full of awe that the former poorest of poors are now multi-millionaires.