Cashless society

[Semosuchi Tesongrato]

If a cashless society is a decentralized one, it will mean freedom from slavery from banks and governments.
But I', afraid that - in the mind of terrocrats - cashless means that we all will have a barcode tattooed somewhere, and any tranzaction will be monitorized by governments...  scaring!

[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. 

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.

Did you know that the risk in having a cashless society is higher than the physical cash society because if we will move into that then a lot of people will just be clueless on the things that they need to consider before using it and the hackers can take advantage of that ignorance to stole a lot of money. It requires a very long time before our society goes into cashless because it is not a small step for the world to take.

[Perseusallen]

i think that it maybe happen cause we all know that in our generation cryptocurrencies are rising. they always arguing in which is better. if the tangible money or not tangible (cryptocurrencies). people nowadays are have enough knowledge to understand those cryptocurrencies and make their own cyber wallen (bitcoin wallet) to start a business.

[eann014]

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.

I agree, it is not also good for those who can't afford to use gadgets and can't access internet connection. It will be a big adjustment to everyone, although it is also good because I think it is safer than having cash in your bag or pocket, but of course we also need to overprotect our accounts because there are still a lot of hackers out there.

[Fatmoo]

It is in favor of people who own a business, payment options are becoming more convenient for them. They are able to complete transactions by simply scanning the barcode using the authenticator of their phone. The problem is if you'll lose your phone or someone took it and you forgot to logout all your account. Is it hard to track people who hacks your account especially using bitcoin wallet addresses.

[Abiky]

If a cashless society is a decentralized one, it will mean freedom from slavery from banks and governments.
But I', afraid that - in the mind of terrocrats - cashless means that we all will have a barcode tattooed somewhere, and any tranzaction will be monitorized by governments...  scaring!

A cashless society may be a double-edged sword. In one side, it could mean freedom from central banks and governments allowing people to transact without any external interference. But, on the other side, it could turn out to become very bad for the people using cashless payments, as governments and banksters would be able to track every single transaction made taking away our privacy for good. Given the level of attention that banks and governments have paid to blockchain technology recently, I believe that the future holds a cashless society where every individual makes a transaction on a private ledger owned by the government, leaving them with the power to control everything from the termination of accounts, modification of the digital fiat currency's supply, and more.

Imagine a world where governments would have complete control over our finances being able to track, monitor, and restrict usage of our money. Since blockchain provides the possibility of transparency over every transaction made on it, it will serve as the perfect tool for government's digital fiat currencies. In the end, every citizen might have a chip implanted on them with their financial information, allowing them to pay in a cashless world using only their finger or hand on a scanner. It sounds terrifying, but it may become a reality in the future. Just my opinion

[voltesbit777]

Cashless society is on test net and some of the G20 country are practicing cashlesss society. maybe 5-10 years from now we could see a unique payment system online and it's all worth to see it in the future.

[BETnaBET]

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 will be ill implemented if you bitcoin is promoted to all the world. Because bitcoin will be used also in any K in MD of transactions.Bitcoin can be used in payments also to make processes easily. Even if you go to another place no need to exchange to the money changer. Bitcoin has a lot of help. It can be an income also. Aside from we can used it to payments we can used it as a job also even your at home you can have bitcoin as long as you know how to follow it.

[shield132]

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 will be ill implemented if you bitcoin is promoted to all the world. Because bitcoin will be used also in any K in MD of transactions.Bitcoin can be used in payments also to make processes easily. Even if you go to another place no need to exchange to the money changer. Bitcoin has a lot of help. It can be an income also. Aside from we can used it to payments we can used it as a job also even your at home you can have bitcoin as long as you know how to follow it.

Bitcoin won't be used for massive payments, it's simply useless. Imagine it's spammed currently and what will happen in future, do you really believe that 1MB block size will be enough for that?
Maybe in future we will have only cards for payments but not blockchain for many reasons, people don't want transparence. But as for now we don't have big reasons for that because companies are trying to develope bitcoin ATM's to cashout money. So currently paper wins.

[vinz7229]

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.

We have the same thoughts, maybe the advantage of cashless society is, you will never worried of your self even if your carrying your millions along the way cause you know that no one could see it or even touch it,  on the contrary, lots of scammers would come out cause they knew that every individuals would put their money in their online wallet storage.

[Joyceshiroor]

A cashless society describes 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.

[Karmakid]

I think this would be really great,I mean we don't have to carry cash on where ever we are going,
There are some people who are always forgetting their wallet on their home because they are in a rush .
But there are also a down side in being a cashless society hackers could easily hack your money .

[liivii]

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.

We have the same thoughts, maybe the advantage of cashless society is, you will never worried of your self even if your carrying your millions along the way cause you know that no one could see it or even touch it,  on the contrary, lots of scammers would come out cause they knew that every individuals would put their money in their online wallet storage.

That's totally right, there's advantage and disadvantages of a cashless society. One advantage is you don't need to carry money is order to pay something and there will be a faster transaction. But on the other side the disadvantage of having a cashless society is the hackers trying to bypass the system, there's no guarantee of a safe wallet unless it's a hard one. And lastly not all the people have knowledge on this kind of system, some may adopt but many will confused on how to use it.

[burner2014]

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.

We have the same thoughts, maybe the advantage of cashless society is, you will never worried of your self even if your carrying your millions along the way cause you know that no one could see it or even touch it,  on the contrary, lots of scammers would come out cause they knew that every individuals would put their money in their online wallet storage.

That's totally right, there's advantage and disadvantages of a cashless society. One advantage is you don't need to carry money is order to pay something and there will be a faster transaction. But on the other side the disadvantage of having a cashless society is the hackers trying to bypass the system, there's no guarantee of a safe wallet unless it's a hard one. And lastly not all the people have knowledge on this kind of system, some may adopt but many will confused on how to use it.

I agree with all of you, but for me I like the scenario now that we do have an option, that it is either we will use it or to invest it, because if it happens that cryptocurrencies become our currency then the tendency would be the value will not happen to rise or down so we don't have any more extra income unlike today.

[SangkuniBird]

Yes, a society without money is a nightmare for a free person. Of course, if we mean this as a centralized cash count. If you drop this assumption, then nothing is horrible. I do not think that in the future there will be some problems with access to electricity or internet. Modern reality in this way is very similar to a society without money. You do not even control the amount of money you have - the government can turn it into dust with the help of inflation. Or take half of your own money.

[FullMooon]

Cashless Society it can work but it takes time so many requirements for it but imagining what can we do when were on cashless society no hassle on paying anything what they want even buying a food or clothes but thinking about it, it can take a worldwide free internet that can access all the people and the next is by making the cryptocurrency approve by the whole world. its hard but we can try.

[armandoz]

I think that is the way will happen in the world cashless society just secure your account to be safe and secure. in the other hand it will be safe for us to one will attemp to take your money in you bag or snatch your bag.  they think twise before they make that.

[nwahshearthiad]

Cashless society would be very convenient to all of uss but there are many things to consider and improve if ever this will happen, before we can have a cashless society everyone should have a gadget that they would use for every transaction they will be making, an access to the internet wherever they are, new and improve payment system for cashless transaction, but this will only be possible for the next 5 to 10 years if the bitcoin is still popular as it is now.

[Xavieroz]

I do not think it really offers greater security, for a long time there has been a kind of "digital money" which is the revision and possibility of making transactions with fiat money through our bank accounts. In addition, a few days ago the first armed robbery of bitcoins was executed, do you really think it will be safer? No. That will not happen. What is certain is that it would benefit us in other ways, such as the ease of making immediate payments, acquiring better income, those that have bitcoin or cryptocurrencies reserved from the first years, currently have a large percentage of monetary funds in their hands. If I believe that we will reach a kind of digital economy and I agree with everyone except that it will offer us more security.

[Aying]

I do not think it really offers greater security, for a long time there has been a kind of "digital money" which is the revision and possibility of making transactions with fiat money through our bank accounts. In addition, a few days ago the first armed robbery of bitcoins was executed, do you really think it will be safer? No. That will not happen. What is certain is that it would benefit us in other ways, such as the ease of making immediate payments, acquiring better income, those that have bitcoin or cryptocurrencies reserved from the first years, currently have a large percentage of monetary funds in their hands. If I believe that we will reach a kind of digital economy and I agree with everyone except that it will offer us more security.

At some point cash less society has a great impact as it will make our society becomes easy and Hi tech, but still it is not an advantage all the time, just imagine those beggars or poor people who cannot afford to have even a cellular phone so they can access it right? So, it is better if we will have just an option either cashless or not.