Does this mean Cash will be extinct?

[layoutph]

Surely but slowly. Not only sweden, but all nations in the world will create their own coins. There will be a cashless society. Time will come, there will be one money, one currency in the world and that is in the form of crypto currency and it is centralized. I hope Bitcoin will still exist that time.

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

[1714970064]

1714970064

[panganib999]

Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.

Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.

For highly developed countries, perhaps they can do a cashless society, but the majority of the nations globally are still working to obtain economic stability. The complete adoption of the decentralized money system or digital money will create a negative impact on their struggling economy. Perhaps, further studies and corrections are still needed to implement this technology entirely. Only time can answer this mater clearly.

[MaskOffFuture]

Surely but slowly. Not only sweden, but all nations in the world will create their own coins. There will be a cashless society. Time will come, there will be one money, one currency in the world and that is in the form of crypto currency and it is centralized. I hope Bitcoin will still exist that time.

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

I don't believe this will happen in a large-mass scale. The adoption level of coins is still very low for such move. For serious and big countries, issuing coins might not be a good idea.

[King Koy]

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

I am not one hundred percent sure but I can say yes. The time goes by and new invention, discovery, and situation are happening every now and then. On this natural system which is undeniable truth in human history bring us modernisation and that is why we have a lot of great people in the history who made change in this world. So the chance for this question can happen because cashless is already existing and in every little step the people are educating by the cryptocurrency and so the number of those who are aware about it is growing and take their interest. So this is truly possible.

[conected]

Surely but slowly. Not only sweden, but all nations in the world will create their own coins. There will be a cashless society. Time will come, there will be one money, one currency in the world and that is in the form of crypto currency and it is centralized. I hope Bitcoin will still exist that time.

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

- Everything will change rapidly over time, cash although it has existed for a very long time but it will gradually no longer fit modern society, people will gradually eliminate it, this is an inevitable thing, time will always erase everything. However, this will happen very slowly because want to eliminate a habit and improve social life is not easy, it can take hundreds of years or even thousands of years, and we need not be too concerned about this issue, we also can not exist until that time

[wewe123]

Surely but slowly. Not only sweden, but all nations in the world will create their own coins. There will be a cashless society. Time will come, there will be one money, one currency in the world and that is in the form of crypto currency and it is centralized. I hope Bitcoin will still exist that time.

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

- Everything will change rapidly over time, cash although it has existed for a very long time but it will gradually no longer fit modern society, people will gradually eliminate it, this is an inevitable thing, time will always erase everything. However, this will happen very slowly because want to eliminate a habit and improve social life is not easy, it can take hundreds of years or even thousands of years, and we need not be too concerned about this issue, we also can not exist until that time

It might happen in the near future,it only depends in every government of country all over the world to adopt the cashless currency ,the extinct of cash will surely start in the first world country that can immediately implement with this cryptocurrency and advance technology.

[GrayFullbuster]

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

No. For me, there is really small possibility that the cashless society will happen but I think it is impossible if the people will forget cash. Cash will never be extinct because people will continue to use cash.

[Gotumoot]

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

To be honest that's quite scared me though giving me a goosebumps to be honest , cause said on the bible when there is no cash and when the money transfer or become just like an usb where it planted on our skin to pay and to buy , it is sign of evil though. So back to the topic well we can't say that in 2023 although it is a prediction but maybe just maybe , because as you can see our world becoming more and more modern.

[mstfprcn]

I'm sure that it will take long to get to that point of extinction. Government will not allow to just throw their local fiat/cash and embrace digital currency. People are used to cash as their method of payment in transactions. Also it would be hard for shop and market to regulate their supply of bitcoin or any other altcoin.

[wareen]

Surely but slowly. Not only sweden, but all nations in the world will create their own coins. There will be a cashless society. Time will come, there will be one money, one currency in the world and that is in the form of crypto currency and it is centralized. I hope Bitcoin will still exist that time.

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

- Everything will change rapidly over time, cash although it has existed for a very long time but it will gradually no longer fit modern society, people will gradually eliminate it, this is an inevitable thing, time will always erase everything. However, this will happen very slowly because want to eliminate a habit and improve social life is not easy, it can take hundreds of years or even thousands of years, and we need not be too concerned about this issue, we also can not exist until that time

It might happen in the near future,it only depends in every government of country all over the world to adopt the cashless currency ,the extinct of cash will surely start in the first world country that can immediately implement with this cryptocurrency and advance technology.

In my opinion, if someday a country will change the current monetary system, this country can be Venezuela, because the value of FIAT in this country is lowest on the world. No one wants to use this currency, so, if this country does not want to use Dollar or other currencies from other countries, I think cryptocurrency is the best choice.

[fishball]

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

I think it won't happen. Cryptocurrencies are still not legalized and if other countries have already done legalizing these, other countries won't be able to catch up specifically third world countries. They will still stick to what has been used for centuries.

[thet]

That is possible but a very hard and long journey before it finally happens.  Bitcoin should be legalized all over the world.

[Rubble898zaitO]

I doubt the world will follow Sweden's lead on this initiative, at least not anytime soon. Even if the world did, I don't think it will end the use of physical cash or fiat. Yes, technology's moving forward at a very fast pace making transactions virtually seamless but there are a lot of people who couldn't afford it. Most possibly, it will only affect big companies but not small and startup ones.

[Intersan]

Total removal of fiat from the society will do more harm than good.
No matter the level of technological development, not everyone will be able to embrace cashless transactions. And also, most services need to be paid in cash.

We don't really know what new technology may come out in the future though. It's possible that somehow in the near future, everyone will have instant access to a bank account or some form of savings account that they can use instantly with some piece of technology. For now, however, I agree with you that the removal of fiat would not fare well with society.

Its true that there are place that the modern technology can't reach especially provinces so it will be impossible to implement bitcoin and other things that needs internet connection. We have been using the normal way of paying by cash and I really think that it will not go extinct because of the existence of cryptocurrencies. I mean, the latter can be implemented but will not wipe out cash.

Another is that there are poor people who can't afford buying gadgets so if bitcoin payment will be implemented how are they going to take it? We are happy because technology keeps on evolving, making our lives easier but of course there are people who can't just easily adapt and we have to consider them.

I think it won't happen. Cryptocurrencies are still not legalized and if other countries have already done legalizing these, other countries won't be able to catch up specifically third world countries. They will still stick to what has been used for centuries.

That is true, bitcoin is not yet legalized in many countries. In fact, there are countries who opposed that use of it because they think that it is affecting badly the economy and that authorities are afraid that it is being used for illegal transactions. Our country is also getting concerned about because the population of bitcoin users here also grow when the price of bitcoin bubbled up last year. There are people who doesn't believe in bitcoin and would prefer cash and depositing cash in banks for investment.

[Neerajkumar]

Many countries are preparing for a cashless economy totally free from Fiat money.It might create some hurdles in the cashless economy as among these whole population there may be many who will find it a bit difficult to deal in.In many countries the cryptos are still ban so these cash will remain as the exchange mode and their extinction might be not possible soon.

[christina30]

    I think digital crypto currency is good but i guess it doesnt mean that cash will extinct. Because not all people  in the world know bitc0in. And not all government accept bitcoin especially china.. they completely banned crypto

[Jeepney_koh]

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

For the first world countries, cash may extinct and may die but for the third world countries where internet, cards and everything can be fake and very slow, I think cash will still exist. I already travelled across countries that has poor developement and they are really in need of cash. Credit cards can be hacked and even money can be fake.

[Donceng]

I'm not sure about that, it does not mean in the presence of bitcoin, cash will be extinct. no. cash will not go extinct until whenever. Why is that? Because it is not easy to replace the important role of cash in this world even if replaced with bitcoin or other crypto currency because all walks of life use cash as a tool to transact in everyday life.
and many people still do not understand how to use bitcoin money or other digital currencies

[BitcoinPaw]

Cash is really weak stuff that can be easily stolen, counterfeited and many other sutff because it's physical currency. Bitcoin and other digital currencies is better in this case.

[Edrian]

Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

Not in a hundred years, cash is far important it was used all over the world if one country stops the transaction of cash how can they trade with another country who used cash too? Some country ban cryptocurrencies so they only use cash if one country makes transactions to other countries it will not going match if one currency is digital and one is cash. People need to do more great research and studies before they use other currencies as a standard currency.