Does this mean Cash will be extinct?

[z38630610]

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 guess we can not say money will extincted in near future. But it may be use less while mobile apps or online payment systems including bitcoin and altcoins increase. For now I don't use so much cash too. In the future this situation may rise.

[Jembut Ireng]

Slowly but surely cash will be extinct, this is because all users increasingly feel that the cash problem is too complicated to make cryptocurrency the best solution.

[TastyChillySauce00]

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 guess we can not say money will extincted in near future. But it may be use less while mobile apps or online payment systems including bitcoin and altcoins increase. For now I don't use so much cash too. In the future this situation may rise.

The biggest chance of making all these cash extinct is a debit card and credit card. The security system always improving day by day, and right now, the vast majority of people in developed countries are using this kind of things.
As you can see, there's also cryptocurrency debit card that will deduct some amount of money from your wallets that contain altcoins or bitcoin once you use the card. I assume that it's the evolution of all these cryptocurrencies.

[mriansa]

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

cash or paper money made from paper and paper made from wood, if wood continues to be used for paper making then the trees in the forest will be reduced and make the world will become arid and global warming higher, different with digital currency, all paced digital paper does not need to be used for cash money that may be the reason that I can catch from this problem.

[loreykyutt05]

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

It was not Impossible and it was likely to happen however I think It will take more years for it to happen and I think the government must improve first it's internet before thinking about fiat extinction , In the philippines the internet was very slow and many places has still no access on internet , I think that issue must be fixed first before thinking about fiat extinction since a cashless transaction requires internet.

[gondar1]

I highly doubt that cash will extinct. Bitcoin will emerge of course, however, it's impossible to phase out cash, unless of course every country all over the world will agree to this thought. That is my opinion regarding this matter.

[spyerf]

The existence of bitcoin here, in our world, while there are still many people out there who can still use paper money in transactions, because of its ease of use. bitcoin is a big currency, big for everyday needs. So it is not possible to lose paper money and we all know the government still chooses cash rather than other types of money.

[Ewox]

Yes it is possible, most people who got Bitcoin Cash for free actually disposed everything they got so that means less are actually holding on to the coin. Even if it came from bitcoin it is still an altcoin, and most altcoins are dumping most especially if bitcoins price soar up high.

[Rooster101]

Cash or fiat will here to stay and it will never become extinct like what happen to those giant lizards that lived during jurassic era. Cash can overcome any modern technologies because of its convenience and availability to the people. You can not be able to transact  any digital money  during power outages because it depend on electricity.

[lighpulsar07]

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

uhhh i read the article and it is just a full speculation but a good article anyway i think that eliminating fiat will bring huge problems not just in economy but in the international trades and also, it is too early to go into cashless society it must studied very carefully to implement this major change

[Bolt Brownie]

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

Sweden is far ahead most countries in their way to become the first cashless country. If I'm not mistaken some of their banks don't even operate with cash anymore. That is probably normal since the majority of its citizens use bank cards anyway, so why use money. I wonder thy they haven't launched their crypto coin as well, since there are so many countries doing it now.

[Xester]

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

Well maybe because Sweden is one of the richest country and so they are also advanced in technology.  But that does not mean that countries should follow it.  There are many things to consider.  Here in our country, not all places have electricity.  Only few people on particular place knew about computers and gadgets.  So it will not be possible for cash to be extinct.

[khaled0111]

We all agree that what Sweden is going to do is a huge step. But let's face the truth: how many country in the world have the possibility to do the same. We talk about huge investment here and developed technologies!! and let's don't forget that many people in the world don't even know how to use a credit card or what even a credit card is. We will need years and years to see something like that happen.
Let's wait and see what will happen in Sweden and then we will have a lot to talk about and discuss.

[olushakes]

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 see this as something that is nearly impossible the highest they will get is to have a larger percentage of their transactions now being done via electronic means unlike before. The moment they want to insist on electronic means then people will be forced to go back to the era of trade by barter because there is no way they can say everybody in Sweden is fully computer and internet literate to be able to use only electronic means to transact business.

[Lampaster]

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

Well maybe because Sweden is one of the richest country and so they are also advanced in technology.  But that does not mean that countries should follow it.  There are many things to consider.  Here in our country, not all places have electricity.  Only few people on particular place knew about computers and gadgets.  So it will not be possible for cash to be extinct.

You take the two extremes. I think what OP has in mind those countries which are less successful than Sweden but developed enough so they won't be places where there is no electricity. I think that these countries, too, will not be quick to abandon cash. It seems to me that different countries will try to create their own crypto currency and try to attract investment but it will be in parallel with a use of cash of national currencies.

[Mikasa77]

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 fiat money or cash will not be extinct since not all people as well as some countries in the world can cope up or follow this kind of change that will happen. For the poor as well as for the people who dont have any idea about bitcoin, they still need to have cash in order to survive. Maybe some of the countries can follow that kind of rule but not all.

[0t3p0t]

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.

I agree with your idea mate. We can't afford to buy things lower than the transaction fee. As we all know fees are getting higher as price skyrocketed and how much more in the future? Are we going to buy candies with Bitcoins high fee? For me Bitcoin is only best for  investments. I think buying goods with Bitcoins has issues with fees more or less four to five dollars per transactions really sucks. People using fiat all the tine are more affected in a cashless society and I don't know how they would adopt most especially less fortunate people with no idea on this blockchain technology. It is hard for these people to embrace such ideas and that is the fact about cashless society. I am one of those less fortunate people but I am lucky enough  because I have now the ideas regarding blockchain technologies and I am happy with that.

[Hamphser]

It would take the world quite a long time to follow suite, not to mention the developing countries who don't have the technology or infrastructure to install digital/electronic payment terminals across the country.
So, as good as going paperless sounds, I don't think we'll be seeing this go global. It'd definitely be interesting to see how Sweden's stance on BTC would be influenced though as a result of this.

It wont really go globally and as been speak not all countries are capable on such adjustments for sure on turning to digital came from physical money thinking off that not all countries can able to do such thing easily because they dont really have the resources and also people wont really be easily convinced on such adjustments.Local fiat would really still be at its best on this kind of situation.Even though digital trend would be there but i would bet that people would always prefer to use local fiat cash since we are already using it for how many generations even digitalized currencies would be there but yet people will surely seek for physical fiat for sure.

[ajmapalo22]

Yes if full adaptation of cryptos will be done by all countries it would be possible for cash to be soon extinct but for this to happen it will take so many years to get implemented because there are a lot of issues in digutal currency like the supply issue and the stability of a particular currency...but seeing the growth of crypto currencies chances that it will take the place of normal fiat can happen soon.

[lazaruseffect11]

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 cash is impossible to be extinct because not all people know digital currency so they will not be able to cope up with that. Maybe some people in some countries like Sweden can do that but not all. But lets be open for all the possibilities. Also, no one knows what will happen in the future so lets wait and see.