Is an economy without physical money safe for the poorest?

[Dontme]

No its not, majority of the poor in the country for example, doesn't have the access of internet or the technology. If the economy rely on the technology it will be unfair for the others and use the electronic money instead of the physical money. Let's think about people.

Yeah! Actually if physical money removed at once I think those poor people will going to have difficulties when it comes in about using bitcoin since they have do it with internet and electronic well I think they can't do it. So, better to do it step by step.

[tanghere02]

If it does happen in the future, I'm sure the "poorest" would've already figured something out on how to get money through digital currency. It won't happen overnight so they will adjust to that kind of situation for sure.

[eekkaa]

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

this is what we want in the future to make paper money or physical money to reduce and develop the digital currency, it looks like if the paper money is not there anymore and all the digital will simplify all existing transactions.

[Choyor]

This is an obstacle or challenge for the digital currency to reach all levels of society in the world. because it can be assured that the poor can not reach or have digital currency, because they have no media to access it. Therefore, I think physical money is still needed and will always coexist with digital money.

[Malaya]

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

Well this sentiment has been running in my mind few weeks ago. There are so many ways bitcoin can help a country's poor economy. And I think before bitcoin be he future currency of the world, everything has been atleast lay down well like even poor countries have good internet and each person has a device to use bitcoin.Through bitcoin, it can help a country to have a standard currency with other rich countries world wide.

[Zabrielle]

This would be very hard for a 3rd world country. Not eveyone can afford electronics to be online all the time. So cash or physical money is important. Money is safe in the bank so much more if its virual but we have to ve carefull with hackers around. For the poor people they can relate with crypto currency because not everyone can afford a gadget just to be online. And wifi is not centralized.  Not even everyone has a bank account. They need a physical money otherwise it would be very very hard for then.

[syamster]

No its not, majority of the poor in the country for example, doesn't have the access of internet or the technology. If the economy rely on the technology it will be unfair for the others and use the electronic money instead of the physical money. Let's think about people.

Yeah! Actually if physical money removed at once I think those poor people will going to have difficulties when it comes in about using bitcoin since they have do it with internet and electronic well I think they can't do it. So, better to do it step by step.

Yes off course it’s safe not only for poor people but also for rich peoples and bitcoin don’t make any difference in its users it going to deal same with all it's users and rich people are also investing here because there is procedure to keep save bitcoin you will have your id and password to use it so nothing can happen to your bitcoins in this time duration we did not see any complaint about bitcoin safety its mean it’s safe for everyone.

[Kotone]

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

THat is what i was saying in all the discussions saying that cryptocurrency can usurp the physical or paper koney. as for me the people would always look for the security and the convenience that the paper money can offer that digital cannot

[balakang00]

I think it would be unfair for the poor people if there would be no definite cash in hand to be used by them because it will be hard for them to manage money from the internet because not everyone could handle money and not everyone have internet

[farwellbit]

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

It's hard to imagine anything like that either, and it's very likely that few people would be easy targets for attacks and robberies. But this would open a very large door for import and export, it would be much easier to buy a product in a foreign country for example, because you could make payments in just a few clicks, not to mention that the risk of losing your money would be minimized because all or else almost all would have a backup of their wallet in a safe place.

[Sexie]

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

.                    It is not a good idea  when theres no physical money for the poorest. This is just  the only  way that they can live easily. If theres no physically  money, how  they can Survive. If they Will just depend ON digital currency, wherein we need all the gadgets to just to update all your assets in Bitcoin I think they could  not easily adopt the situation because they dont  even able to invest to it. Mining maybe the best for them. But it takes time  to earn Bitcoin.

[Naficopa]

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

For the poorest people it will be unacceptable. They must have cash. Then they know they have money. The same seems to be unacceptable in countries with low education.

[swscowods]

I think it would be unfair for the poor people if there would be no definite cash in hand to be used by them because it will be hard for them to manage money from the internet because not everyone could handle money and not everyone have internet

An economy without physical money is n safe for the poorest, and you’re even killing them, cause they won’t be able to make use of electronic money.They don’t have any means to access the internet; they have no mobile phone, no smart device or computer, so you’re making it difficult for them, not just difficult, you’re killing them.

[Ninmag]

Physical money is very valuable to the poor or needy. Because physical money is important and the means of payment are valid. If cash had to be released and replaced with digital money, surely they would find it hard to survive and become very hungry because they simply do not understand the internet and they the majority do not have smart phones or sophisticated computers. The poor will be poorer. I think the government does not want that to happen

[alucard23]

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

Having a piece of paper as a monetary unit did not save people from poverty for all these years... A digital, but centralized token would not make much difference either.

What would make a difference is how much these people have control over their own money, and which mechanisms they have to protect their currency against inflation.

[kier010]

the poor will suffer the most and will meet with difficulties. can they adjust? possible no. some/more/most of the poor can't even eat three times a day, don't even have a house to live and even some live in the street and government can't sufficiently help them. i also thinking about people taking advantage of them like scamming them because we know some/more of the poor don't have educational achievement.

[PG13]

If that happens everyone has no choice rather to accept the reality.
Systems will be same as fiat money but in higher level.
I'm sure the poor will find ways to survive.

[Jesabela04]

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

I think it would be very hard for poor citizens to live and have an economy without physical money. There are people who didn't attain enough education to have the knowledge about cryptocurrency. Even beggars won't survive without physical money. They won't even have the ability and knowlege in accessing the internet.

[Haynes]

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

if that is the case, I do not think it will be that fast and there will certainly be a big step forward to overcome the various problems or risks that will be faced because after all, all countries in this world will greatly uphold their citizens in order to have a decent welfare life.

[athanz88]

Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?

Well in my opinion, it can happen in the future, but not for now.
First because not all people have access to electronic and internet gadget, it will make more gap for the poor and the rich.
Second, if we want to make it real, i guess we need an identical, invulnerable, and simple gadget/tools/equipment to store our money, so there will be no different for the poor and the rich (different only in the amount of money) and everyone will feel safe.
Third, the security system (like police or others) must have a technology to track the money that is lost because of some hacking or scamming action without trespassing the privacy of the money holder.