Does this mean Cash will be extinct?

[bengca84135120]

Sooner or later, cash will die, and sooner or later the cashless society will come.

There is no problem in the technology of cashless economy, and the security needs to be improved and strengthened.

[NyLymZbl]

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.

[newbie-hero]

I think thats a bit too early, there are still lots of countries who doesn't have internet connection, most of the third world countries are having a hard time connecting to their internet, because their connections are just too slow and unstable. Now I think in the 1st world countries, this idea may apply, but not to the whole world yet

I agree. Even in the most developed countries it is now difficult to acquire something using crypto currency or sometimes there can be a malfunction when paying with cards.

[bilyboy]

absolutely not. a society without cash is a useless society. there is a combination that if you don't have cash you will need a online payments but if there is no cash there will be no more stall now. cash will be there forever for sure because it is the people use in everyday life.

[schatzi]

We might stop using cash but not now. Maybe after decades. Chances of cash going extinct soon are very low. There are still under developed countries where technology hasn't been advanced yet and has no idea how the internet and modern networking works. So yeah, we might see extinction but not now.

[KingFisher9]

Bitcoin wasn’t made to replace cash, and mind you, no community can live without cash; people will always need physical form of money they could rely on, whether it’s dollars, stones, gold, silver or whatever. So saying cash will be extinct is absolute foolishness. They’ve been around in the beginning and will always remain. bitcoin just came for one purpose which is to create a decentralized community.

[Luwi]

I think it will not be possible, because there are still many poor people who can not afford to buy mobile phones. So what about the poor who can not use technology? Until now there are still many countries that prohibit the use of bitcoin. How could the whole country follow sweden? Perhaps cash will be lost if the state facilitates and socializes the technology in lieu of cash. The state must spend a lot of money for the budget, this will affect the economy of the country. Need to think over and over again for this, there are still many more important issues to be solved.

[Snappycoco]

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

Yes there is a big possibility that it will be a cashless world where in all of the money is just put in your account and all of your transactions will be bought online. Specially now that technology is fast growing.

[andika2018]

I don't think that cash will extinct. There are alot of transactions that needs to be paid by cash. And also most of the transaction that needs documentations are need to paid in cash. Also not all establishments will embrace cashless transactions.

Cash on that term is not only paper money. Money we know right now can be digital form, but its different with crypto because that digital money still controlled by central banks. Different with digital money or paper money, crypto not control by any institution or government

[JoshMart]

well for me, I really don't think that digital currency will ever replace the fiat paper money ever. I know that it is already there plans but I think there will be more cons and pros if they proceed with this plan. Fiat money are backed up by big corporations and the government so it is the one that is being used for the national economic reprots and all the financial activities of the government which will be very hard if it will become digital.

[misterj]

It is possible because seeing all the advantages of the cryptocurrency we could say that it is desireable because the only problem would be in the hands of the user. I believe that cashless era would be the next era of our future.

[Craigjohnstone]

If one country has success with piloting a cashless system which I think will work. Then we shall see this being rolled out throughout the world. This will take a lot of time, however you can clearly see the banks & governents moving towards this. A country does not need to have a paper currency anymore. Imagine every email you received was a letter through your door.. times are changing and the financial system will go through large changes throughout the next 5 years.

[Tan_avia)vl.]

Sweden is good, these guys are ahead of the planet all. So far, visit all the countries ready for so to get away from the cash. To take at least poor countries with backward economies. Developed States are still disabled to transfer credits to them in cash. 

[Boromon]

I don't think cash or fiat money is going away anytime soon. Maybe someday its could be happen, everything is possible in the word. Moreover, people are using paper money since centuries and they will never stop using it

[nightfury]

Sooner or later, cash will die, and sooner or later the cashless society will come.

There is no problem in the technology of cashless economy, and the security needs to be improved and strengthened.

But that's only applicable for a nation that is embracing the blockchain technology. And even if all nation will embrace it, the downside of bitcoin being unable to be access or make a single transaction when there is no internet connection is a big hindrance in the realization of a cashless society.

[miltonpogi]

definitely no, because paper money or cash is very popular in every part of the world and that make more stronger, because it can be use by poor or average person in making transaction and ecxchange of goods.

[GunsLair]

Hardly paper money can disappear forever. How many years already there is a computer and the Internet but we can't say that they are used all over the world. There are countries and people who have never used these benefits of civilization. Also with electronic money.

[Bugsbey]

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 is still impossible now. It is still so hard if we will not use fiat money. Not everbody have an internet connection and use cryptocurrency. But maybe someday, in the future that will happen. Crypto currency is beggining to be known worldwide.

[lordmick]

Everything is possible in this life. However, people need their own place of anonymity. Every person sometimes buys a thing (service), which he does not want to advertise. While electronic money will not provide at least some privacy, fiat money will remain popular among ordinary people.

[wasaisi]

I agree that there will be come a time that cash will be replaced by something else. Just like the barter method where it was replaced by cash. There is no denying that the result of cryptocurrency technology is amazing because of the blockchain. Government as we see are now taking interest in this blockchain technology and might probably adopt it and may result to the extinction of cash.