Cashless society

[Freyya08]

Maybe in the future it will happen. I think cashless society is a good idea but at the same time it has some disadvantages as well. Cashless society is good specially if youre travelling so you dont have to bring cash specially on a not familiar places. It think it is more effecient. But having Cash on hand is also good specially for places with no internet, or by paying our daily transportation.

[Techie5879]

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

Yeah it isn't happening anytime soon, but a universal digital currency would go a long way in modernizing every nook of the world. The fact that anyone could transact anytime, any amount, at any place, seems like a great idea to me.
Surely agree with you that internet access needs to be universal for this to work, even in remote parts of the world, like Africa and some Asian countries, where people aren't getting enough livelihood. To get that, we need an all-round-initiative by various governments to try and eradicate basic poverty, and educate people. Education has been a great problem for bitcoin society, as to use it, you need to properly understand it, and in many places, like in India, there is a huge lack of education in some parts of the country.

[NicG13]

I think the scenarios here is pretty much already underway, isn't it?

[Mr.Anonymous]

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.

Although about the concept, the government can not access to the cryptocurrency system. But you have to remember, we do not have enough users to create a perfect system like that. The Chinese users is the best example for the cryptocurrency user want to against the government and got failed.

[Mystika]

maybe the time will come as our country is a cashless society.For me it is also okay to be cashless society because of less hassle especially paying for bills, especially when you in travel.
the cashless society also has disadvantages especially those not yet using technology. And I also think that the paper money in our country is not going to be lost because people are even more accustomed to it, especially those who are struggling to find gadgets and the internet.

[btcrut2017]

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.

Cashless society is very imposiblr right now because not all people are literate in computers. Not all locations have internet. Not all can afford to buy gadgets. How about the people who do not know how to read and write theycan be very vulnerable to fraud and bad people.

[Yanisumin]

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.

I think you are missing the point. Cashless yes, but cryptoless not. Cryptos remove many of the inconveniences of cash and some structural problems like variable inflation.

I don't get you either. He is talking about a cashless society, and he is a believer in crypto, IMO, I think what he is missing is that he is just limiting his view of perspective of what he is seeing now. BTC an advanced technology, its vision, aims for the long term. Imagine if we all have the ecosystem of paying through digital money, from small vendors to bus tickets and two supermarkets. It may be inconvenienced for now to use, these type of cryptocurrency, because:
not all people has the knowledge
our current technology can't keep up (though mining and in the functionality of network)
there are still a lot in the process
we are still in a continuous development

Right now fiat is much more convenient to use, and crypto has not proven yet its potential, but this will likely change.

[bigbangmother]

This is a good idea, a cashless society means less hassle more convenience to all of us. But I do think that this will not happen yet soon. 

[cmaxwell]

there is nothing impossible in this world. it is very possible the world operates in an economy that is cashless. infact Nigeria government came with the policy of recovery excess cash in her society which has alot of meaning to the economy. it brings in security and saves much time. if the whole world can accept or adopt digital currency definitely the cashless world is possible.

[sserge009]

I think that we will see the world without cash very soon. in developed countries, they will start to leave the market in the next 5-10 years. the process slows down because the mind of most people is not ready to completely abandon the cash

[GamingBro]

It's very bad and sad to lose cash. People can't feel full value of money when they can't take them in hands. Also can you imagine how your granny using digital money?

[Kahoy01]

Well it is certain that a lot would file an appeal at first, that is just normal. After all, cash has been going on and is used for millions of years ever since the first homo sapiens sapiens started their own civilization. But we would inevitably reach this point in the future where digital cash is the most prominent or even the only existing currency out there.

[Pasaway2701]

I think that we will see the world without cash very soon. in developed countries, they will start to leave the market in the next 5-10 years. the process slows down because the mind of most people is not ready to completely abandon the cash

I do not think that we can be cashless society because if that happen, it result a very big changes for the people as well as to our environment. Online money  needs fast internet connection to be access and not all place around the world have that. Using card paying for small bill will be just a hassle and time consuming unlike having a cash where you can pay for exact amount without processing it.

[Abiky]

I think that we will see the world without cash very soon. in developed countries, they will start to leave the market in the next 5-10 years. the process slows down because the mind of most people is not ready to completely abandon the cash

Agree. Many people are not used to making cashless payments. The majority relies on physical fiat currency for their daily transactions. However, as education related to cashless payments become spread worldwide, and the internet becomes accessible to anyone in the world, then a cashless society will happen for sure.

I think that even if Bitcoin and other cryptocurrencies have managed to gain traction in the mainstream world recently, they still have a long way to go, thus delaying the process of a cashless society to become a reality. Step by step, digital payments will improve to handle all the world's payments in a safe and secure way. Once the blockchain technology improves over time, then digital payments could begin taking effect in any region of the world. Governments have shown interest to this side, so it will only be a matter of time before they implement this system for anyone to begin making cashless payments with dirt cheap fees, and near instant transactions. That is the future, and we should be prepared for it. Just my opinion

[Mikado$]

No, we will not know that. It is unlikely that the world's currency is still valuable money, like the euro, the dollar, etc. High-value alliances will not accept reforms easily, they need The process is very long to evaluate and test. I think paper money will remain very long in the future.

[stayeduptolate]

However governments focus on digital growth​ cashless society is simply an impossible task. The reason why I made this statement is that even now people avoid using cards just because of the increased fee that's been levied as well few people haven't gained the required knowledge to use it.

First of all it not an impossible thing. It could be happen. And in many countries it already happened. In Japan their government work with bitcoin to promote their cashless society. Many small businesses man, marchentes using bitcoin for trading goods and these thing supports to the cashless society agenda . In this Morden society everyone wants cashless method of shopping and Bitcoin help them in it. Yes it was true that many people doesn't have required knowledge to use cashless methods but proper guidance by governments will help them in this think.  

[Oliveir]

I could Imagine it, shouting in front of the small store because we can't buy two pieces of candy and the reason is internet connection is low and you can't connect to your digital wallet. How's that?

[GideonGono]

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 cashless society I think it would be great it will a lot easier to transact their transact here , you know i think it though I imgine it and seen on my dreams. And it's a lot safer though because it can reduce the crime of it. And I think it is better to have an cashless society.

[Abiky]

Well cashless society I think it would be great it will a lot easier to transact their transact here , you know i think it though I imgine it and seen on my dreams. And it's a lot safer though because it can reduce the crime of it. And I think it is better to have an cashless society.

With a cashless society, crimes would be reduced to a minimum for sure. But they can never be prevented as criminals could use anonymous digital payments (like Monero) for their needs. Despite this, a cashless society brings many benefits that would be hard to ignore for any government nowadays. Higher efficiency in transactions, environmental protection, and reduction of fraud and corruption is all possible with a cashless society.

This is not possible with physical fiat where it damages our environment, it's less efficient, and cannot be sent easily and safely across the world at inexpensive rates. Since cashless payments provides the government's ability to track every transaction made on a ledger, it will be the perfect tool for them in the future.

Nevertheless, the world is heading towards that direction (although slowly), and we should be prepared to embrace it. Just my thoughts

[markj113]

Im sure you all will enjoy your wonderful cashless society until the next round of bank bail outs.

Except next time your fucked as there will be no bank runs as there is no cash to withdraw and no way out, and dont think you can just transfer all your fiat into bitcoin as there will transfer limits imposed before you can do anything about it.

A cashless society is a government/bankers wet dream and most of you seem to stupid to realise it.