Does this mean Cash will be extinct?

[CleverOracle]

Paper money can't be vanish because there are still remote areas where ATM is not available or cellphone signals are not good so to be able to use only electronic payment they need to develop the places and educate the citizen on using these electronic payment though it could happen on cities where technologies are fully develop and people are used to it.

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[Roksodhon]

There is no one in this world who can tell us what is going to happen in the future. But I think cash still will exist in long time. Because most importantly, millions of people still do not have access to the internet and many older people are unable to do so. But maybe some developed countries, it is possible to replace cash with virtual currency.

[Idaujotaite]

Even though crypto currency’s are doing really well I don’t ever think they will be or take the place of cash.  There are many reasonings behind it just one of them being not all people understand crypto currencys and how they work

[tantimutz]

It is possible to see people without money in the future while on the other hand it can be our only dream to see the public without paper money. There are so many users of paper money and it's really a hard job to convince each and every one of them.

[Freddie Aguiluz]

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 dont think that cash will ever be extink, because it is still easier to use and everyone has access to it. Unlike digital money that uses internet and other gadgets that only few people can access to it.

[biletskiy]

I do not think we will ever get to the point when we are ready to completely resign from regular money i.e cash because that is the first payment option ever accepted by countries all over the world and if we decide to replace it with the bitcoin it brings us to unbelievably long process.

There is no need to worry about it. The traditional money will always exist, and I can admit that dollar will be always the king of fiat. But cryptos will be used widely.

[krankNL]

I do not think we will ever get to the point when we are ready to completely resign from regular money i.e cash because that is the first payment option ever accepted by countries all over the world and if we decide to replace it with the bitcoin it brings us to unbelievably long process.

There is no need to worry about it. The traditional money will always exist, and I can admit that dollar will be always the king of fiat. But cryptos will be used widely.

This doesn't mean cash will be extinct. Cash is strong against cryptocurrencies. If crypto takes cash down, this will be a nightmare for the capitalist system, I think that's why it won't happen.

[GreenPowerRanger]

I think the only reason why the Nordic countries like sweden could eliminate fiat money is due to the fact that they are very social democratic countries, and have almost none poverty rates. But could you imagine eliminating cash in the US? How would the droves of homeless and impoverished people pay for anything? They certainly can't get credit cards or debit carbs, because they either don't qualify or can't afford the fees. There has to be a very very stable socioeconomic environment for the elimination of cash, 100%.

[reidel21]

No cash will never be extinct because there are always some country's that are poor and don't have internet so they need a form of payment method to buy their stuff. So that is why cash will never go extinct.

[taxli]

I always had this idea that the main purpose of the bitcoin is to fullfil the functions that regular money i.e.cash is missing to enjoy completely all the payment methods that available.

[taxli]

There are still so many actions that are limited fot the bitcoin like we cannot even go to the store and easily pay with cryptocurrency and we go ahead and use cash or cards. So it definetly takes some time to switch which is why I do not see complete cash replacement yet.

[julius caesar]

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 will be ling for thw other countries to follow this suit since different countries has different capabilities regarding different matters want I am trying to say is that Sweden is a very rich country and some countries were not like them especially for those who was labelled as third world country and I think it will be a complicated thing if this will happened.

[Bosx1ne]

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

Even the bitcoin became popular in the world, cash will still exist in our economy. The cash has important role in our economy and there will be problems that will exist if the cash will be extinct. I am sure that the bankers will not let cash to be extinct.

[VentureHero]

Cash is already disappearing in those technology-driven economies. Go to take a look at what's happening in China.

[Sorenson5549]

I do not think cash will go extinct because too many people are used to living with money, so change is taking a long time.

[jovs]

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.

There are countries that could afford to have a cash less society, it means that they have enough equipment and technology that can facilitates such major innovation. Perhaps, it is true in some developed countries, but worldwide, perhaps it is yet too ambitious. Consider countries that are still developing and have struggling economy, it would be so difficult for them to abolish the use of traditional money and force the poor to understand the new financial system. Innovation really takes time and studies to become applicable, perhaps in due time, gradually it may happen.

[munify]

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 depends on the state government, if the government is interested in the crypto system and uses it as the country's currency then the fiat currency will become extinct. But if the government forbids crypto entry in the country then the fiat currency will still exist as a means of transaction.

[DMCR lah]

Currently the economic system in Indonesia is still dominated by cash payments. However, now transactions in major cities use a more modern payment system through online or non-cash.

[IamSaitama]

Bitcoin could never take currencies seats. Maybe for now but I think it would take lot's of time to make bitcoin the only currency that exists because of the following reasons.
1. Bitcoin does not have any physical appearance it is just a mere virtual thing that only exists in the internet.
2. There are lot's of currencies out there and taking all their crowns would be difficult.
3. Not all countries accept bitcoin at all.
4. Bitcoin is still young and unknown to many, bitcoin need to grow more reputation to be considered a real, reliable, and usable currency anywhere.

[hahay]

Cash will not go extinct, even though there are many new innovations at stake in countries that make it easy to transact, but cash will not go extinct, because cash is indispensable to all the people in the world, because if digital money or the like will only be used by people who have access to the internet are not used globally.