Does this mean Cash will be extinct?

[Farhan786]

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 not the only country in the world. There are more than 200 countries. If a country is a little ahead then other countries will try to improve. That does not mean that all the countries will get better. My country is a very poor country. People do not have any education about online. In this case, a few of them work with Bitcoin. It's stupid to expect in my country. My country may not be developed even in 2050.

But in the developed countries, it will really play a role to take the country forward.

[Blackmet]

At my opinion cash is better than digital money and also much more safer for government first of all. Digital money can't show their value to people and also would be attacked by hackers probably.

[clarky]

Eliminating paper fiat will have a measurably poor impact on economies. Paper money represents a greater environment friendly form of transaction than electronic payment. For the poor who can not have enough money a mobile phone or internet connection, paper cash is their solely hope of buying/selling. Getting rid of paper fiat makes transactions extra challenging and additionally centralizes the forex issue of economies which leads to monopolism. Centralizing electricity and influence in this way is strongly correlated with exploitation, predatory commercial enterprise practices and inequality.

[developer101dev]

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 will not be extinct because there are a lot of people who still needs fiat and they are not really capable of earning cryptocurrency on their daily lives so keep on working today to earn cryptocurrency in order to become very rich in the future.

[DarkTaiga]

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

Nope. In the future, people can use digital coin, smartbank,...but digital money can't completely replace with cash. Although people said that the system is safe, but it have many weakness. 5 years is not enough to be able to create an extremely perfect system. Money is an extremely important thing. So we must do it seriously. I predict we can do it 10-20 years later.

[GreatBug]

It seems that it will be hard if money will be extinct. Because still no one can replace cash. In my country also so, there are still many who use cash to give salaries to its employees. Still rarely people are using like atm.

For me it is possible and this will happen in some next years cause world every day is developing and it will be time for money to develop and one way will be of course crypto market.

[Rakesh_alejandro]

Cash will be there till the end. may be it will be more like shopping voucher in function.

I think how they do transactions on the market physical to buy or sell goods only to live? this idea makes no sense. paper money is also important and I think a lot more countries will not follow if it happens. to deal with all the money Fiat in the state is not necessary, how about anyone or anyone who is not able to buy gadgets and provide the Internet connections, how they live.

[Fatimah Azzahra]

I think it's not that easy to erase cash from the general public in a country, especially if from middle to lower class, in addition to cash has a lot of history in a country, cash also symbolizes the distinctive characteristics different from the many countries in world.
Cash is also a legitimate payment system in a traditional market in every country, because every country must have a traditional market, and most of the marketers are guided by the market, if I sell tangible goods you have to pay in the form of cash, (digital money) ...

so in the form of any era progress I think many countries will not erase cash or paper money, because most will be bad for the people in the country.

[Prodigye]

This is actually very likely because it can already be seen in China where people basically only use Wepay and Alipay to pay for things, however cash will probably exist for large or illegal transactions.

[mahfuj7779]

This can never happen. But maybe not for all countries. Everybody does not use the cell phone, the Internet. One time transaction will give digital currency. Then the world will disappear.

[ProtonBlast]

I couldn't read the link, it said access denied. But I have read about this before. I wouldn't trust it. This is a way to control population. No cash means they can freeze all of your money and have complete control. No privacy from the government. I bet crypto will increase in these cashless places.

[Telogodok]

Do not worry about this because there are many countries around the world trying to limit its development and paper money is still the only currency.

I think the Government as we see it now takes an interest in this blockchain technology and may possibly adopt it and can lead to the extinction of Cash.
I agree that it will be time for cash to be replaced by something else. Just like the barter method in which it was replaced by Cash. It is undeniable that the results of cryptocurrency technology are exceptional due to blockchain.

[varun bee]

extinct means dead, which is not possible as much we would like to think that people will give up cash its not the case. most people love cash, quantity may vary but they do, so for crypto to replace cash completely or to say cash will be extinct is a utopian dream, either crypto goes full gov. regulated, clean money path, investment and actual working blockchain or it goes underground in dark web-edgy-internet-magic-money-trading path, there is no way in between. so replacing cash is a far fetched dream in reality imo

[fiend91]

I don't believe cash can be totally extinct as a result of the advent of crypto currency or cashless society policy by different government. From what I see coming in the future cash usage can only be reduce to some extent and not to the level of extinct completely from the existence.

[zhelis74]

It seems that it will be hard if money will be extinct. Because still no one can replace cash. In my country also so, there are still many who use cash to give salaries to its employees. Still rarely people are using like atm.

For me it is possible and this will happen in some next years cause world every day is developing and it will be time for money to develop and one way will be of course crypto market.

Yes, today cash will not be vanish as it is the main engine of making monetary transaction for buying goods and services in every corners of the world, cashless transaction is already started but the world are not yet ready for it, but as our technology always escalating then it is not far in the next generation that cash will slowly be extincted.

[bitcoinsocial09]

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 is possible that it will happen. But I think it will not totally happen there's still a country who still use cash. because I this years there are still people who are not aware about bitcoin or let we say in the digital/crypto currency. There's a lot of people still use the caah and do not believe in bitcoin. I think in 2023 it is a big adjustment therefore it will not totally all the people did not use the cash.

[bestcripta]

In some places may disappear, but this does not mean that all countries will follow the example of Switzerland.

[Escf4]

No, cash will not be extinct but if the government will implement the use of cryptocurrency in that certain place there will be chance that cash will be extinct, in places that cannot be reach by internet its hard for cash to be phase out, because how can those people transact business without cash, if there is no even electricity in that area,

[squog]

If that would be successful then the government will have to issue cellphones and cards to everyone. I don't think a third world country will followsuit. People who are poor and couldn't afford a phone to have their digital transactions. But then again, eliminating physical money sounds good. I mean we can eliminate the production of it. But are we sure our digital transactions are really safe with all the hacking going on. Just something to think about.

[mitchr4]

Personally I will not accept that things happen because it only worsen the economic state of a country. Indeed later we will face the digital era but that does not mean if the cash will be totally extinct. The use of cash in daily activities is very useful also for real world interaction as well.