Cashless society

[intoy_victor]

It would be nice a cashless society and secure. It could reduce crimes like culprit. And all people who use digital wallet are confident because they are secured. And it will be happened in near future. Hope so government agree with but I know it is to risky because of many hackers around the world.

[Lasvista]

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 would be nice though and I think it will lessen the crime all over the world , but it's kinda scared though in my opinion some say the implants used or a demon work it have an sign though. It's have disadvantage and advantage of it , well maybe it will help us mostly our world becoming modern and modern these days. So my opinion is neutral

[pogiparin]

I think it will increase web-based criminal activities. Companies would invest more on online security to guarantee that the money will flow in the right order. More importantly, eradication of cash would help the environment since no money would be printed.

[Cryptophorus Columbus]

A cashless society is very possible, it existed along all history and there are still some tribes that use barter to do trades.
In a modern sense, I mean a society using only electronic money, it would be a good idea only if would be a decentralized one, based on cryptocurrency.
Otherwise, a centralized society with no cash would be just an Orwellian/Stalinist nightmare, with total control from a central authority.

[youdacapt]

I think it will increase web-based criminal activities. Companies would invest more on online security to guarantee that the money will flow in the right order. More importantly, eradication of cash would help the environment since no money would be printed.

All can be facilitated by official regulation, cashless is very important in the present life and many urban societies do not use physical currency in real life, and even their wallets only contain credit cards!

I can not imagine how many bank employees will be fired if all have switched to digital currency.

[Abiky]

Maybe it will happen in the next 20 years i guess because we can't change paper money and switch on to digital currency in just a wink there a lot of processing to consider especially on poor countries who are not yet familiar with modern technologies and also we can't have transactions without internet.

Yeah. Progress has been quite slow in third world countries to adopt new technologies. It may take quite some time before cashless payments are introduced to those people and make them get used to this new system. Since there are many poor countries in the world where people don't have accessibility to computers, or internet, a cashless society would take a couple of years from now before it becomes a reality.

I think that once the internet becomes over distributed over satellites around the world, people in countries where internet didn't reach before will do so by then. This will bring accessibility towards people using cashless payments limited by their ability to educate themselves about the same. Perhaps, in the future, when governments start rolling in their digital fiat currencies, they would contribute to the cause by giving their citizens the tools and education they need to make cashless payments.

It is only a matter of time before cashless payments like cryptocurrencies become a huge success in the future, or not. One thing for sure is that banks and governments have payed close attention to this new economy, thus making a cashless society possible in the long term. Just my thoughts

[Shikaina]

I think it will increase web-based criminal activities. Companies would invest more on online security to guarantee that the money will flow in the right order. More importantly, eradication of cash would help the environment since no money would be printed.

All can be facilitated by official regulation, cashless is very important in the present life and many urban societies do not use physical currency in real life, and even their wallets only contain credit cards!

I can not imagine how many bank employees will be fired if all have switched to digital currency.

Ya. Here too but the idea of a cashless society wherein the only currency in circulation will be cryptocurrencies. No more fiat or local money. This idea is not far from happening since it is laready started. Well, i can percieved this could also lead to one currency/one government world.

[anakkampung17]

people without money I think will be a big problem in the world. Where they will be confused how to buy and sell with real in the real world or everyday life. And maybe investing in coins will not work effectively because exchange rates like money do not exist. Basically humans in the world have not all felt sophistication in today's technological era. And bitcoin will no longer be effective for investment.

[hoangtujuda]

If it is true, it will indeed be a great revolution in the economy as well as with the flow of money flowing into the market. But first of all we need to address the security issues as well as the broad spectrum of technology to everyone.. I believe Crytopia and BTC are strong enough to carry that mission. This is my idea.

[ghost424]

A Cashless Society would mean that one specific society agreed on something that has become a basis of their barter system. If this happens, they would be knowledgeable about how cryptocurrency works and how would it affect their daily lives and how many times will they use it in a day will be the same on how they are using cash to buy something. These would take a lot of time and a lot of studying before we can implement this kinds of rules and regulations.

[zkgirl]

Not sure I still be alive to see this. There are too many people of my generation (and even the next one) who are afraid of technology and will hold as much as they can to their habits.

As for the impact on criminality, it was my understanding that bitcoin is already used hugely in some shady business... no ?

[speem28]

A cashless society is very possible, it existed along all history and there are still some tribes that use barter to do trades.
In a modern sense, I mean a society using only electronic money, it would be a good idea only if would be a decentralized one, based on cryptocurrency.
Otherwise, a centralized society with no cash would be just an Orwellian/Stalinist nightmare, with total control from a central authority.

Yes and the sole purpose of using digital currencies is that we could be free of the controlling government and banks. So a cashless society that will also be centralized will just be all for nothing. The only thing that will change is the fact that we are using electronic money instead of fiat that we had been using for ages. Though, in my opinion, a cashless society would be not possible considering the high transaction fees that it has, so it is not feasible.

[boruto99]

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. 

like you said. everything is happening right now.

one of the reasons why his bitcoin is created is to eliminate paper currency. so future transactions people will use digital currency because it is faster, safer and very efficient.so central bank print money using keyboard like typing a letter again not with paper money printer.

the proof? any transactions above $ 10000 will use transactions via interbank transfers not with banknotes.

want more proof? tether prints digital money hundreds of millions or even more than fed a print money without the need to audit.

[RonJohannson]

I don't know man, I mean you see parts of Africa that are using mobile money all the time with mPesa in Kenya being the best example, but there will always be a role for cold hard cash because there is always going to be that one segment that cannot afford a cell phone, won't be able to get a bank account, or is just totally old school and refuses each.

[Nissan]

A cashless society is a poor society how can you spend your hard earn money if the society is cashless? some society in far places like in mountainous part or a remote village they use trading goods such as fish,veges,animal meat in exchage of rice. but now a days we have to use cash in order to buy things and what we need for our daily consumption in order to be alive.

Off course it is going to happen and it is true for bitcoin it is now new age people have become more educated but at the same time now time is very short because everyone is struggling now. So people love to buy all important things using bitcoin like if they will pay for food even if at home then no one would like to go far to the market as they live in village or some backward area. Life is easy because of bitcoin no one is worry about robbing as bitcoin has wallets you can carry a lot of bitcoin with you without getting harmed.

[El Il-mythos]

I believe that the cashless society will surely happen and it is now working through the essence of the cryptocurrency. If that time will come what you had been said is really amazing because no need to be afraid that in the middle of the night there will be a bad guys that will ransack your house a get your money, it will lessen the crime and every transaction become more and more convenient.

[azguard]

What represent cashless society is it using something that is now money or not use paper money at all. This is something that most dont figure out yet and think that only crypto is something that is meant on cashless society. However using plastics on this i mean cards is actually use of cashless cuz you dont use paper money.

[Abiky]

Yes and the sole purpose of using digital currencies is that we could be free of the controlling government and banks. So a cashless society that will also be centralized will just be all for nothing. The only thing that will change is the fact that we are using electronic money instead of fiat that we had been using for ages. Though, in my opinion, a cashless society would be not possible considering the high transaction fees that it has, so it is not feasible.

Exactly. Cryptocurrencies bring the ideology of becoming free from government control and third party interference. Being a new type of cashless payments system, it has gained a lot of traction since their beginning a couple of years ago. However, once governments and banks start rolling in their digital fiat currencies, cashless payments would become audited by them threatening the privacy of people's transactions. This is one of the many flaws being cashless has, but the benefits that it provides such as convenience, and speed will allow it to become used in the future.

As for high fees, I wouldn't worry much about it since there are already other cashless systems which have near zero fees. Stellar with its XLM cryptocurrency has been working on delivering fast payments at a fraction of a penny to anyone in the world. Central banks could adopt such system in the future to deliver cashless payments at near instant speeds and extremely cheap costs. Therefore, all that is left is for people to get used to these types of cashless systems to pave the way towards a cashless society in the future. Just my opinion

[James_Spider501]

In the event that it is valid, it will for sure be an incredible unrest in the economy and additionally with the stream of cash streaming into the market. In any case, most importantly we have to address the security issues and also the wide range of innovation to everybody.. I trust Crytopia and BTC are sufficiently solid to convey that mission.

[Gotumoot]

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. 

Being a cashless society is one of the sign of the future or the upcoming future , being a cashless society is great it's a lot easier for all the people and being cashless it be a lot easy to transact or pay bills at any cost. And despite of the facts it can have a disadvantage of being a cashless society. What if someone wanted or doesn't have a money to buy digital gadgets that can use , and also there is advantage and one of the advantages of it is reducing the rate of criminals around the country.