Cashless society

[boynegro]

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

The debut of Apple Pay and the rise of bitcoin show that the cashless society is becoming reality, with huge implications for business and consumers.

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[Dux2K]

Concept for cashless society can be good idea, but many thing need to be said and done before this can be possible. Believe this can be done but from current point of view we are still far from this.

[Crazygreek]

It's bad idea to change cash into digital currency because you never know what happen tomorrow with your system. It's can be hacked at any moment...

[MiF]

It's bad idea to change cash into digital currency because you never know what happen tomorrow with your system. It's can be hacked at any moment...

Cashless society is not possible, because even now that the society start making atm card debit or cider card etc. they really need a cash to deposit to put or load it into the card so then we really need cash, same with digital currency we also need fiat to have bitcoin to be load in our web wallet to be use as payment in our daily basis needs. I think cash less society is not possible.

[lucianus_luciferus]

i think we are beginning to become a cashless society.
i personally don't ever use cash and don't carry cash unless the store i go to does not accept contactless payments.
even car parking machines are starting to accept contactless payments
and if you think about it is the next natural step of evolution to go this way
2000 years ago there were the coins, then about 1000 years ago they made paper notes so now we have the technology to actually go paperless
maybe my grandmother will not know how to use android pay but i am sure she can learn and also all the debit and credit cards can be contactless so it will be very easy
 

[Nivir]

i think we are beginning to become a cashless society.
i personally don't ever use cash and don't carry cash unless the store i go to does not accept contactless payments.
even car parking machines are starting to accept contactless payments
and if you think about it is the next natural step of evolution to go this way
2000 years ago there were the coins, then about 1000 years ago they made paper notes so now we have the technology to actually go paperless
maybe my grandmother will not know how to use android pay but i am sure she can learn and also all the debit and credit cards can be contactless so it will be very easy
 

I am also feeling better doing cashless mode of payments. I usually used cards in nearly all of my transactions. But sometimes we cannot really avoid using fiats especially in rural and far away places.

[abramovf]

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. 

This can be possible only in developed countries. Most of the people in developed countries have not even heard of bitcoins.

[diva.man]

In China, my cashless society is like this!

Bus -- alipay; The dining hall has a meal card, the meal card is also the alipay recharge; In the evening, I cooked my own food, and I bought my food downstairs. Supermarkets buy groceries -- alipay; To use cash, or to pay treasure, of course, is to ask a cash colleague to take, and then alipay to the other party.

[ginika]

I think due to the advancement of technology, people without money is a government effort that aims to monitor and control the amount of money circulating in society.

[Farhan786]

Bitcoin is going away nowadays and people are going for interest, as people can use cash instead of Bitcoin in the future. So Bitcoin is now looking for a master card to provide their users. That they would rather use wallets. Somewhere to get their money back. So, maybe happening again in 2018.

[CuteBaby123]

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 means advancement for the future and adapting new technologies with advanced features. These will lead to betterment of every nation because transaction will become more transparent and easily detected. Likewise, the flow of money will be easier to trace and more convenient to balance and check. If these will happen, then cryptocurrencies will have a great chance to be adapted by many people and governments.

[SkustaClee]

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 the cashless society will happen if all countries will legalize bitcoins. There are people who wants to use bitcoins but they can't use bitcoin because it is illegal in their country. All of the government should now accept bitcoin as money.

[BILGPS]

If we look at the society then cash is playing a good role in present time so we can perform transaction off line and your money is in your possession. Cash is good for many transactions and if we look at the current trend every thing is done through cash ans cash is better than online form of money like the crypto currency like bitcoin is operating for many transactions.

[thomas41546]

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 is not feasible to make society totally cashless. There are large ratio of people around the world who are totally handicap towards technology as they illiterate and don't know how to use gadgets or Internet. Moreover internet services are not expanded to remote areas of the world.

[Pinoyfan]

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. 

Well it is really convenient to pay with one tap of your cellphone.From this you prevent long and tiring lanes. But it doesn't mean that fiat money will disappear. How would you pay if you don't have internet? we all knew that there are countries has bad internet connection So its good that there is fiat money that you can rely all the time.

[Abiky]

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.

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.

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.

You do have a point there, mate. Both types of currencies (fiat and crypto) can be used for criminal activity whatsoever. It all depends on the person using them for such purpose. On the other hand, while digital payments may experience delayed transactions, that could be solved with new technologies and CS concepts developed today. Usually, DAG-based cryptocurrencies don't have the problem of scalability as they're able to scale to an infinite number of users over time. IOTA has such model and grows in terms of scalability as more nodes are implemented into the network. As such, transactions are extremely quick and there are no fees at all.

Perhaps, in the future, the model of DAGs (or a similar one) could be used by governments around the world to issue their digital currencies. Payments will take a fraction of a second regardless the region or area where two parties are transacting. The benefits provided by cashless payments, will eventually transform our society for the better in the way we handle our money. Both crypto and fiat will exist for years to come. As such, we might say goodbye to physical fiat and hello to digital fiat soon. Just my opinion

[Marrionbitcoin]

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 is really possible but there should be regulations to be handled by the Government so that it is supported and protected. In fact, we actually doing a cashless wherein we can use either debit or credit card as payment of goods and services. Hence, it is possible to apply it to Bitcoin digital currency as same as with our existing credit or debit cards. Actually, Bitcoin has been created to make our lives better and easier wherein we can avoid high charges from using credit cards. So, we better to invest in Bitcoin now and its value increases as time goes by.

[jhamz03]

Yes cashless society may happen in the future but not globally, maybe only in some rich country's like USA. There are many countries where there is so high number of poverty, I think it could be hard for them to adopt cashless society when earning money is their problem.

[zhelis74]

If we look at the society then cash is playing a good role in present time so we can perform transaction off line and your money is in your possession. Cash is good for many transactions and if we look at the current trend every thing is done through cash ans cash is better than online form of money like the crypto currency like bitcoin is operating for many transactions.

Yes, cashless society is already started but not all can use since people in every society is different and not the same standing in life specially in the third world country or in a developing country. Using ATM card, debit or credit card is an example of using payment without cash and i believe in the next generation the world will fully become cashless society and crypto currency plays a vital role for that changes.

[Yanisumin]

The two countries that are closest to a cashless society are India and China.

I travel a lot for work and in this 2 countries, you can definitely survive by digital payments.

Even tips can be paid by cashless means..most developed nations have become entrenched in

our traditional payment forms like cash, cheques, credit cards but for China and India, they have

skip everyone and jump straight to cashless digital payments for all.

This trend is very good for crypto as crypto has no physical form as well.

We will likely see countries launching their own crypto currencies this year and in a few more years,

cashless will be the norm.

btw with cashless, governments will be able to track every cent you earn and spend - great for collecting taxes.

This is the real motivation for governments to move to cashless..

Some say that Singapore is a pretty good example in cashless payments. I'm not a traveller but I think Japan is the Japan is also leading in this kind of society. Countries that will be launching their own crypto and control it by their own means has no difference than their current system. I wonder how well this crypto tech will grow in the next ten years.

"This is the real motivation for governments to move to cashless.."
Government have failed us a thousand times and Im hoping that this motivation will not gonna be a big NO again when it comes for them using the blockchain.

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 ?

Criminality has been here long time ago. BTC won't have to shoulder everything. Blockchain is a large scale technology. Such problems can be easily solve by building a platform that can protect someone form shady businesses.