Cashless society

[Loveydovey04]

I don't think that cash will completely be replaced with cryptocurrencies in future simply because crypto don't work offline. Crypto is mainly for the educated class who know how to use Internet and can't be used by everyone so i don't think cashless society is possible.

But cashless doesnt only mean crypto. Visa cards, credit/debit cards and cheques are also cashless but you are still right visa cards are still electronic cards and with out internet and electricity we cannot used them. In daily and easy transactions like dropping off the kiosk for a box of milk, crypto will not be advisable.

[Allura74]

I don't think that cash will completely be replaced with cryptocurrencies in future simply because crypto don't work offline. Crypto is mainly for the educated class who know how to use Internet and can't be used by everyone so i don't think cashless society is possible.

But cashless doesnt only mean crypto. Visa cards, credit/debit cards and cheques are also cashless but you are still right visa cards are still electronic cards and with out internet and electricity we cannot used them. In daily and easy transactions like dropping off the kiosk for a box of milk, crypto will not be advisable.

Yes, but the world is evolving into its peak for digital technology and we are fast in technological innovation. It doesnt signifies that crypto is only for the knowledgeable and computer literate individual because time will come that we are going to be a cashless society.

[platot]

yeah it really good help in the society for security purposes that not handling cash while your roaming around the streets.

[lodi123]

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. 

Bitcoin  is a cashless it it's a electronic currency  of payment  you can send money  and receive because  of bitcoin 

[Akash boss]

Cashless society is a good idea. Because corruption in our control an We can not spend money on our money and it is easy for us and also safe because it is important to cashless

[hairybeast]

Going cashless is good in a sense that it saves trouble in having to handle physical bills and prevent having problem of lack of cash on hand. However, it would create a spending problem for some people who have been having issues with credit card. I also think that the world is still not yet ready for a cashless society as there are still lots of online fraud happening. We are slowly moving towards cashless society but there's still much work to prepare people in their spending habits and improving the cyber security. 

[kokobaba880]

I think the cashless society for some how is good but in the cash based society if something theft so the people can easily check the things while in the cashless society the people will not be able to check over that bitcoin and the other crypto if somebody has steal from you what you can do you have no evidence even for your money and this will cause a panic in the society. So cash is also playing a vital role in fulfilling people need.

[Freddie Aguiluz]

I think that in the future everything will not be completely non-cash, because sometimes it's nice to feel paper money in your hands. In addition, the government wants to control the whole process.

If the government really have the control to the whole process then cashless society will be really perfect for it. You cannot transact your payments and pay bills if you don't have any accounts to hold your money on. If all of us have accounts then the government can easily see and look on your transactions to others. Unlike payment in cash, only you and the person you pay will know about that transaction

[alyssa85]

Sweden is coming close to a cashless society - the amount of cash in circulation is the lowest in decades and loads of businesses have "No cash" signs:

https://www.bloomberg.com/news/articles/2018-02-18/-no-cash-signs-everywhere-has-sweden-worried-it-s-gone-too-far

But the central bank is worried, because they think this trend might hurt the old and the poor. And leaves Sweden vulnerable if someone attacks the electronic banking system.

[azguard2]

Sweden is coming close to a cashless society - the amount of cash in circulation is the lowest in decades and loads of businesses have "No cash" signs:

https://www.bloomberg.com/news/articles/2018-02-18/-no-cash-signs-everywhere-has-sweden-worried-it-s-gone-too-far

But the central bank is worried, because they think this trend might hurt the old and the poor. And leaves Sweden vulnerable if someone attacks the electronic banking system.

They are one the countries that almost dont use cash at all, i mean almost. They have this system for long now and they have many other thing done. I believe that i read that they wanted to create there own crypto but project was failure why i dint find out. But it well now that Sweden is pilot in almost anything they even got good community support and result for 6 hours work day with 3 days off.

Believe that they will be first country that will completely withdrawal cash usage in next decade.

[FoBoT]

There are two ways to a coin in this regard. Firstly, acceptance of Cryptocurrency can actually cubed the menace of criminal activities when the need for unscrupulous middle men are abolished and every individual is in custody of his wallet, where peer to peer come to be. However, on the other note, introduction of the Cashless Society would bring about joblessness of those middle men, if retrenched and would reduce the level of revenue generation in that economy because of for example majority of these middlemen would no more pay due tax

[terbetet]

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 thats true, and we should be open to the fact that not every country in this world will prioritize Bitcoin and embrace it as their new medium of payment, this will require so much adjustments and we cannot expect for immediate response for this, so a cashless society is not advisable thing to implement cause you are just creating boundaries for different people.

[JRoa]

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 the society will become cashless society, then all of the people should have gadgets for them to access and use bitcoins. It is hard to imagine if the society become a cashless society. There is a big change in our economic system if the cashless society will happen.

[flying_bit]

cashless society can be possible but I still think it needs to be regulated. it will be chaos without rules and regulation. just my saying...

[cynical]

Just after realising this thread existed, here is a post from a thread I started yesterday - https://bitcointalk.org/index.php?topic=2979680.msg30622352#msg30622352

People will have to realise this is another move to control the masses, us?
If we think about it when the move is finally complete and cash is no longer available
we wont be able buy or sell anything without the banks and governments knowing about it.

Today I can sell my car for cash without anyone knowing about it,
in the future with no cash in circulation governments can potentially look for a "tax" payment for my sale.

This is a perfect reason to get into Bitcoin, Litecoin, Monero, Dash and others to provide an alternative to this form of tracking and controlling our financial movements.

Here is another report below from 3 days ago about moves in India to withdraw "cash",
not all cash but the most common notes from circulation leaving many with a financial system they cannot access.

https://www.huffingtonpost.com/entry/cashless-society-poor-exclusion_us_5a857082e4b0ab6daf463c4a

[Jeepney_koh]

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 would bring many advantages to us. If this happen, we do not need to bring large money whenever we go shopping, as a result, better and faster transaction over the counter and can avoid the long lines. Also, people would enjoy the comfort and convenient way of paying. However, technology also comes with a price, like hackers may intervene over the digital system.

[cherryfer]

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.

It will be good for our economy for every transactions are being processed in just seconds. However, possible problems such as delayed transaction can arise for it is the means of payments by everyone.

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.

Fiat money has nothing to do with criminality. Our lives will never transform into better wherein criminal activity will reduce for it will be dependent on how this people play part of our society. If they don't change criminality will never change.

Also, it makes me wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.

I believe that it will co-exist with digital fiat for it part of the tend today and in fact not all individuals are fully accepted Bitcoins.

[rerek007]

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's a form of cashless  society  because  bitcoin  is a electronic  form of currency it is a cash less you don't gonna handle the money

[dotz5]

The world is slowly shifting to cashless society with the introduction of many types of of e-payment. Youngsters are able to adept to changes but it might be a challenge for older generations who prefer the feeling of having physical notes. Cashless society is possible but it takes time to go fully cashless. Let the elderly breathe some air from learning of smartphone before drowning them with another wave of cashless technology.

[waskaplung]

Have you seen Mr. Robot? You reminded me of it.
Well coming to real world, it is not possible at least for next 20 years. No matter how easy cryptocurrencies made the finance but still its scope limited to internet. We need liquid flow of internet to transfer BTC and other coins from one person to other. But if we see current situation, internet is not the bite of every individual. Lots of technical jargon stops the way of utopian society of CRYPTOCURRENCIES.

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.[1] 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.