Is an economy without physical money safe for the poorest?

[rowel21]

then I'm thinking how could those beggars beg for digital money they give you there touchscreen phone and tell you can you transfer me a little  those poor who buying a half kilo of rice fish veg and meat   they obligates to buy a good smart phone before they can buy in the market  how about those no read no write people can they even understand this even they don't step in elementary schools I have watch a lot of documentary there's still a lot of person in our country suffering cause they  don't even have a source of water they have to dig the soil a whole day a land of luck of food  they eat even the poisonous fish pushing there luck just to fiil there empty tummy  how can the government teach them to use digital wallet

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[Sled]

It's a scary scenario, but not that far removed from today.

Everyone would need to have some type of basic electronic for transacting. Even the homeless.

Thats true. I cant imagine myself living in a place that forgetting your phone at home will be the most stupid thing you can ever do cause in phone your account is their and the money that you have saved from the prior jobs that you have been through will be nonsence cause you cannot be able to eat and buy without it.

We are still far from that moment because we are still in the beta mode of experiencing in using of digital money and that means that the world needs more time and also cooperation of the people in this test on the cryptocurrencies and once they saw that the effect of using digital money is great then they will just remove the physical money because it will bring more positive things like being more convenient because you don't need to bring a lot of cards and a wallet because you just need a phone.

[Tukang Becak]

As long as there are publications from various media including the government then everything is not a problem, of course digital money or non physical money also works the same as physical money so I think without physical money then everyone including the poor can still perform activities and transactions.

[icecream sandwich]

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 no, i think that it is not safe for them especially those you are in need those who are in the lower side of the economy. Because how can they access the digital money if they do not have any digital devices that can access it. So it us really hard for them to cope up with the new generations. They are getting problem on how they are gonna get theur fopd to eat hpw much more pn affording some devices that can store the money. They cannot go up if we keep on moving.

[Bdstar]

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?

Not at all, Without regulation no currency wouldn't be suitable for any country, in this case, Physical money is the vital platform for the population because they want to transact with a stable currency otherwise they must face a lot of problems.
But your proposal is really interesting, If every currency will be a digital currency then it might be the user-friendly system. If this thing would happen, then we will become entirely dependent on the internet system.

[ucingucingan]

No, non physical money requires at least a supportive device to make transactions, most poor people do not have these devices, so not everyone can use virtual currency

[Troysen]

It would certainly be hard for them but they will adapt. That's how the world is. If you don't adapt to the latest changes, it will become harder for you to live. And money is the basic need of everyone. Their priorities will change.

[JL421]

This is a complete drawback of all the coins and upcomming coins in the market , they all require a connection to internet , a decent phone and a basic knowledge on how to send money to others
These issues will be a huge barrier if ever it is decided to adopt currency as token

[unknownbtcoiner]

Ofcourse it will be harmful for poor because they then couldn't beg for money on road, or  secure them as we can

[South Park]

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?

We are already close to an economy like that, most of the money around the world exist as numbers in a computer and yet you see that most people still use cash for many transactions so both systems can exist and must exist as long as the internet and smartphones do not become so cheap that every single person in a country has one, until that day cash will still be around.

[francojon]

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?

No, not particularly, the hackers won´t give you anything nor, if they are really hackers, tell you at all about it. The poor will continue being poor and the rich will make sure of that.

[portotoi]

Sometimes it is safe in other factor and sometime it is not safe. Using digital money can avoid theft and robbery in a country but using digital money also can enhance corruption and theft in which other perpetrator has the capability to stole your money online. If we used digital money, many poor people cannot adopt with it since it requires computer and other gadgets and internet to transact, and this digital money is not applicable to poor people.

[SoundChariGrabs]

It will be not secure for any poor because it needs an internet connection for its operation which the poor doesn't have

[yepaiyique2]

I don't think people in the same place care about digital encrypted money!

Because they don't understand digital encryption, they don't invest in digital encryption.

[surfinonmyownwavebaby]

I don't know why money being digital would make it any worse for the poorer people. As long as they have inclusion in the system, the amount of money you have doesn't matter.

It will be not secure for any poor because it needs an internet connection for its operation which the poor doesn't have

That is beginning to change, most people now have a cell phone and an internet connection nowadays.

[Scallywag]

the consequences will be that some people won't have access to internet , so they have no way to acquire coins. or even if they have access to internet and a computer , what if that computer crashes and they can't afford a new one , they will not be able to spend money. there are a lot of hurdles to get over to see such a economy become reality.

[esa2782]

safe or not is depend on how society system work, if the poor have the access to the digital media, let's say provide by government, it would be safer than physical money, not to say that it will also give quite freedom for everybody to move and don't have to worry about where to put money, but actually nowadays we don't really use physical money anymore in practical meaning because it is more convenient.

[swordling143]

Well, it will be complicated I think. The reason for that would be the accessibility of online currency through the internet. If the poorest people do not have ways to access the internet such as computers, laptops or smart phones, then it would be impossible for them to access those coins.

[tumokatok]

It would pose a great deal of problem to the poorest of the poor and the uneducated. Both can co-exist but none can eliminate the other.

Most of today's transactions prefer electronic transactions because it is much more economical, free and safe hastle because I think it's safe for the poor to have an electonic currency rather than bringing in physical currency and also they need to have things like that so as not to be abandoned by technology .

[PIR]

It would be hard for the poor then live without physical money to use with, how can they be able to buy their food or the things they need with the little amount of money that they have and if all become digital then how can they put up with that, they're not familiar with and also they will to go to an automatic machine or internet just to have some basic needs they have.This is so frustrating to them and lots of fuss.