Is an economy without physical money safe for the poorest?

[pallang]

Its a bad news for the poor without physical money because if digital money will be legalized and it's the currency we will be using in the future it's hard for them to used it especially without internet and unless the country will be covered with free internet.

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[michellee]

Its a bad news for the poor without physical money because if digital money will be legalized and it's the currency we will be using in the future it's hard for them to used it especially without internet and unless the country will be covered with free internet.

and if digital money legalized, I think the government will give a solution for every people so they could use the money too and I think the government will think about the security for the poorest so they can also use. and I think they can try to use the bitcoin if they have been teaching by other people so they don't have any problem with this. I think the government will give something to them and makes them to access bitcoin with easy.

[El_rancho]

It isn't just bad or worst it will never work and won't go well with the poor. Access and availability with digital
currency alone is crucial issue with the poor that has to be taken into consideration. Maybe a country
with an economy that charitably provides the technology and access to the poor by mandate or thru
decree, has that prevailing prospect and chance of running and governing a functional economic system
without the use of physical money. In reality, it's a good option but it's just way too complicated for now.

[Liza Soberano]

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 there will be no economy that does not have physical money. It is because not all people have an idea about bitcoin and also not all people know how to earn and use it. An economy without physical money is not safe for the poorest because they will easily be fooled by some scammers.

[Eggzootechkoyn]

For me, an economy without physical money is not safe for the poorest people in a society, maybe at first. But there are of course a solution to every problem. And it will just a matter of time where the solution for the problem will be designed and implemented.

[jademacoy]

What do you mean the economy without physical money would be saf to the poor? I am thinking about the concept of your argument and base on my perception more likey that youre going to convey on those homeless people that could not even afford the basic needs for themselves. So without physical these people may hardened their struggle in their living since some of them are just begging down the streets and specifically the only that we could give conveniently is the physical money. I hope that if some members here who gain a lot out of investing bitcoin would organize a group to help those homeless people around the world.

[Bitlord88]

I personally think this wouldn't liquidate for the next couple of years; the reason for this is because as far as from my experience and the country I am living at, there are still a huge percentage of population whom are very technologically disadvantaged. A lot of my fellow countrymen are still living a very very basic means of living. I think it wouldn't be fair for them to make stuff they need to survive to be traded using bitcoin or another form of cryptocurrency.

[emmybd]

I don't think that economy without physical money would be safe and it would be prone to hacking. I think poor people and not well educated would be more affected. A lot of technological innovation is required to make economy without physical money.

[Morderus]

Today being a poor is a choice, actually. Especially in developed countries. So nothing changes for the poor when cryptocurrencies conquer the world. The poor will stay poor 'cause they want to.

[South Park]

Today being a poor is a choice, actually. Especially in developed countries. So nothing changes for the poor when cryptocurrencies conquer the world. The poor will stay poor 'cause they want to.

No, there are some poor people that take bad decisions and that is why they are poor that was a decision but there are those that are really poor that never really had a chance, so we cannot blame them for the fact they are poor, after all how can you blame a poor person of not making a lot of money when in his town there is not even a school, I believe in capitalism but to deny that many people never had a chance is to be blind to the circumstances of those people.

[MMA]

I don't think that economy without physical money would be safe and it would be prone to hacking. I think poor people and not well educated would be more affected. A lot of technological innovation is required to make economy without physical money.

Yes that is more risky if we do not have any real money or investment and we have converted our money into online currencies only, i think it may be more problametic for the poor people who do not have enough education and they do not even know how to use computer and internet, In fact it will take a lot of time when all the people of the world will become too much educated to use computer and internet.

[jakoylantern]

For me, an economy without physical money is not safe for the poor. Yes, most of them say that it will be a great idea, but you are a poor person in the third world countries most of the people don’t have a cell phone or computer to use their digital currency or to check their money. Also, it will be difficult to use some digital currency if you are poor, most of the poor in the third world country don’t have a chance to study and gain some information about the new technology. 

[Uchegbe]

It will definitely not be save for the poor. Note majority of the poor people live in remote areas and  have no access to  power supply  neither can they afford computer nor smartphone to use in accessing their money via electron.

[summit26]

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?

at first poor people has ignorance about it but if there is a proper training how to use it, if that happen government should provide the proper training how to use the modern currency. We all can make it. I believe even poor people have knowledge and intelligent in terms of money.

[Ayush rana]

Economy without physical money is not safe for the poorest people because for the digital currency we need a gadget so to access digital currency and to do transactions and it is not easy to poor people to manage and buy such gadget through which they can access the digital currency world.
Even proper education is also required to use such currency and there is a huge number of people in the world who doesn't have a proper education.

[ronafurw]

I'm not sure, as we know that most poor people can not read much less use the internet, they will be confused because they have to deal with something they do not understand, and certainly this is dangerous because it can make them gullible.

At this very present moment, using of only digital currency will not be a good idea as there is 99% of the population who don’t know anything about this newly introduced currency. All they know is that there is only one form of money and that is paper money or physical money. Until and unless this figure will not change, I don’t really thing so that think idea of having a crypto currency only will work.

[yvesp110]

Economy without physical money is not safe for the poorest people because for the digital currency we need a gadget so to access digital currency and to do transactions and it is not easy to poor people to manage and buy such gadget through which they can access the digital currency world.
Even proper education is also required to use such currency and there is a huge number of people in the world who doesn't have a proper education.

If you are poor but know how to use the cashless crypto currency, then there is no problem because today everyone who knows and can get profit from the computer has it. Otherwise we see there are a lot of rich people who have no idea how to use the computer. In poor societies, if someone has the cash then he is very much vulnerable to the robbery. Also getting cashless is must for the poor people because it will give them the superiority of not showing anything off and getting rid of the robbery or theft.

[richkellj]

I don’t think it is safe for the poor. Why I’m saying this is because these people don’t live a life like we do and they don’t even have the things we have. If physical money is to be removed, then they will suffer till hunger sends them to early grave. We’ll start to make use of devices in order to access and control what we have, and the poor can’t avoid it.

[carlisle1]

Economy without physical money is not safe for the poorest people because for the digital currency we need a gadget so to access digital currency and to do transactions and it is not easy to poor people to manage and buy such gadget through which they can access the digital currency world.
Even proper education is also required to use such currency and there is a huge number of people in the world who doesn't have a proper education.

nah,this community dont require proper education to use,this only needs knowledgeable idea to pursue a career in cryptocurrency..though i agree with you saying its harder for the poor to buy gadget,coz if they have small amount foods and first commodities will be at they priorities than buying a cellphone or any computer gadgets

[gabmen]

Economy without physical money is not safe for the poorest people because for the digital currency we need a gadget so to access digital currency and to do transactions and it is not easy to poor people to manage and buy such gadget through which they can access the digital currency world.
Even proper education is also required to use such currency and there is a huge number of people in the world who doesn't have a proper education.

nah,this community dont require proper education to use,this only needs knowledgeable idea to pursue a career in cryptocurrency..though i agree with you saying its harder for the poor to buy gadget,coz if they have small amount foods and first commodities will be at they priorities than buying a cellphone or any computer gadgets

Well its not even about the education to use it since exposure to it would eventually make people learn. The problem is that when you're poor, you'll have limited access to prettt much anything. You're right that the extremely poor won't have anything with them to access it. They don't even have the means to get fiat, much less cryptocurrencies