Cashless society

[lsokalski]

Cashless will be possible only if the goverment will allow it or will implement this cashless and paying thru bitcoins. It all depends on our government or our leader in our country.

[Addywealth]

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.

From the look of things I think  20 years is too  long for bitcoin to make the world a cashless society. There could be a  technology that will alternate Internet facility in the use of transfer of bitcoin from one person to another.

[RAmondragon]

Going to cashless society is ideal but not yet possible as of now or for another 15 years. But if it happens, everything will be convenient. No need to go to the atm to get cash and buy for stuff. All can be transacted online. All will be smooth.

[soso23]

maybe it would be something like in star trek, but I;m not sure most of the humans are evolved enough to accept the fact that they are all equal and that they should be all treated the same.
In an ideal society a cashless would be easy to use and the economy would still be the same, but the trees won;t die for people to make money. I would like to see that society but I;m not sure the money would be as safe as they are in your own wallet

[Tuyul Gupies]

if people do not use money then all will be a bit chaotic, because with the currency people can make cash transactions. people still need money and many still can not use bitcoin as a digital currency better than paper money. all will switch to bitcoin to welcome a better future and it's all happening but paper money will not go extinct.

[SirDwp]

Let's be realistic - human resources are limited, and desires are limitless.
That's why we need a universal means of exchange, which is called money.

[pallang]

I believe that the government will have a hard time to implement this if this will be the trend because you need to use ,an internet to have transactions,pay bills and more and it's a long time processing to make it happen.

[alval]

cashless society was creating and will be advance someday, world was going on that point. doesn't matter that way
we are all using debit or credit card to buy something .it's first generation of cashless society. and not only on payment sectors
cashless society will take control of service sector too. indeed. a cashless society that had created nowadays can reduce illegal activities and gov can trace easily every transaction goes through the network. but when we talk p2p and blockchain technology. we talk decentralized society who didn't third party ever

[RAAAMA]

I think cashless society will happen many many years from now. As of now, many people is not yet connected to the internet. That means they can't be part of cashless society. But huge number of the society will definitely going to be cashless.

[Abiky]

Going to cashless society is ideal but not yet possible as of now or for another 15 years. But if it happens, everything will be convenient. No need to go to the atm to get cash and buy for stuff. All can be transacted online. All will be smooth.

Agree. Now, we're still far away from experiencing a cashless society. It would take years of research and development, for governments to adopt this system and issue digital currencies of their own. Not to mention, that internet access need to be expanded to anyone in the world for this to happen. But, I believe that the time will come where there will be no need to use physical money to buy stuff, as everything would be bought with digital cash. Transactions will settle within seconds and they could cross borders easily with extremely cheap fees by using the blockchain technology.

As Ripple is near instant, cheap, and has made many partnerships with banks worldwide, I think that it will be used in the future for cashless payments. Perhaps, central banks will issue their currencies within XRP's ledger, or maybe they will design a private blockchain of their own. Whatever happens, I'm sure that our society will transform into a cashless one for years to come. Just my thoughts

[HalfDeck]

if people do not use money then all will be a bit chaotic, because with the currency people can make cash transactions. people still need money and many still can not use bitcoin as a digital currency better than paper money. all will switch to bitcoin to welcome a better future and it's all happening but paper money will not go extinct.

Like Gold, Gold was used as the primary payment method for the monetary system of thousands of years ago. However, when paper money comes out, Gold wasn't used as a currency, it has used as an asset and jewelry until today. Therefore, paper money will also like Gold if cryptocurrency or digital currency become the next future for the world's economy. It can be use as a backup payment method when we need to create transaction offline .

[Andrej Peiboski]

A cashless society is very possible, but we need to take care that it will be a decentralized one, based on the blockchain.
Because if we'll have a cashless society based on credit card and fiat money controlled by governments, it will be a dictatorial nightmare.
And I think that 99% of people out of this forum don't understand the difference.

[Dux2K]

Some government considering this idea in very long time and some are still in not so good mod for this yet to be even consider. Some countries are using more plastic then real money and as such they have been in some process of cashless society. However think it will take lot more not just time but effort for this to be accomplished in any time.

[andrei214]

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 impossible that one day we will have a cashless society.Only if people nowadays starts to lose trust and starts to be bored with cash.It wont happen that fast but by a many more years, and besides cash are still useful for many people.

[kurt1212]

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.

For me cashless society is really difficult because it cant help economy to grow and you have to work have to you to have money. In real world you have to do your best to have money .

[Yanisumin]

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.

From the look of things I think  20 years is too  long for bitcoin to make the world a cashless society. There could be a  technology that will alternate Internet facility in the use of transfer of bitcoin from one person to another.

I think he is talking about the TV series Mr. Robot, and, yes 20 years is enough to solve the major problems that we are facing now in the Crypto World. Imagine the internet 20 years from now. I don't think that there are still people that time that don't want to take a bite in the technology of the internet, I don't expect cryptocurrencies to rule the world of finance 20 years from now, but I'm seeing a large number of users who will use crypto's and fiat at the same time and in their respective functions.

[NS-Soul]

Let's be realistic - human resources are limited, and desires are limitless.
That's why we need a universal means of exchange, which is called money.

Definitely! Of course I go through the use of cryptocurency but that doesn't mean EVERYONE can be controlled by the government or countries that will agree to use  cryptocurrency as mode of payment and as long as this will not be legalized by the government, it woudn't work.

[Abiky]

It is not impossible that one day we will have a cashless society.Only if people nowadays starts to lose trust and starts to be bored with cash.It wont happen that fast but by a many more years, and besides cash are still useful for many people.

I concur with you mate. It'll be the day where we will only depend on digital cash instead of physical fiat which is messy and hard to carry around anywhere (if it's a lot of money). The benefits that a cashless society provides are numerous from being ecologically friendly, to being extremely secure and convenient. Every day we see banks and governments become interested in designing their own digital currency for use by the masses.

As such, it will only be a matter of time before everyone begins using digital currencies and leave physical fiat as a thing of the past. Of course, it will take a couple of years from now for it to happen, but we will get there as technology advances and internet limitations become reduced to zero. Just my opinion

[cabalism13]

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. 

This isn't impossible as you can see through the effectiveness of our current technology and also in the near future most of the governments around the world will truly understand how crypto really works together with the blockchains.

But still if this will be implemented as soon as our current states, this will lead in such chaos because many of the other countries doesnt have the access and even knowledge about this.

I hope many people won't suffer if this came to reality.

[Abiky]

This isn't impossible as you can see through the effectiveness of our current technology and also in the near future most of the governments around the world will truly understand how crypto really works together with the blockchains.

But still if this will be implemented as soon as our current states, this will lead in such chaos because many of the other countries doesnt have the access and even knowledge about this.

I hope many people won't suffer if this came to reality.

You do have a point there mate. If a cashless society becomes implemented nowadays, it will be total chaos as not everyone in the world has access to the Internet or are used to making cashless payments. This applies especially to people in poor countries and old people which can only use physical fiat currency for their daily needs. However, I believe that slowly governments will introduce cashless payments to the people to help them get used to the new technology.

As soon as the Internet becomes widespread to areas of the world where access to the same is restricted, then a cashless society would be bound to happen soon. It'll be cool where you won't need to take out physical hard cash to pay for anything just use your smartphone or even implants to pay for anything instantly. But, in the other hand, it will be scary as governments would gain the ability to track down every transaction made on their ledgers. Just my opinion