Does this mean Cash will be extinct?

[kamilah147]

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 do not think it's possible, because it's also very much needed for people who do not understand technology, if we're as ordinary as that, but if for the old people it's hard enough.

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[velar12]

There will always be and there are now such places where do not accept Bank cards and you can pay only in cash.

[@prashant]

It will depend on country and percentage of literate citizen there and they should know the digital platform they are going to use as payment.in my opinion it will take more than decade to achieve this stage even for Small country.so let see how progress goes and later virtual currency can be traded as swiftly as digital currency.

[Tungsten-1]

Belived or not, people in the future will no longer use paper money, it will be replaced by gold. Probably the gold is physical or virtual, I do not know which one.

Honestly I dont think so but maybe in the future paper money will not be more eligible to use it because of the hitech technology that its really manipulate us.

Cash means notes are reducing its popularity as new and modern currencies have been implementing in the market and the market is now changed therefore the cash processes are not stronger as it was strong before. The crypto market is now running without friction and we have now a frictionless market therefore people are now in the favor of crypto currency’s market.

[endut15]

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 every country has different ideas, because the government can think the best for the people who have given them power. so their duty is to provide the best for the people's welfare.

[BlackBeauty]

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 every country has different ideas, because the government can think the best for the people who have given them power. so their duty is to provide the best for the people's welfare.

But in my opinion bitcoin will more popular in future and maybe government will more promote this currency for their citizen because people are getting a lot of benefits from bitcoin and their life is more comfortable by it, so bitcoin will more use in everywhere than paper money and i think the importance of money will extinct and everyone want to deal in bitcoin.

[Irviyandi]

If I think the currency will not go extinct even though this bitcoin samakin growing rapidly in society, the eyes that will not be extinct because we really need this currency to dilute the results of bitcoin that we have today and again we make transactions with the prevailing currency because most of the country still forbids this bitcoin to make transactions.

[bowals]

Seems that's where the world is headed is the introduction of cards (credit,debit). It's the third world countries I'd like to see the impact of "cashless world"

[Rooster101]

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 wont happen .. the bank will  is scared of cryptocurrency and they are against cryptocurrency ..
and i think they believe in future there is a possibility where people generates Cryptocurrency and it might affect the Money globally.

I think not all banks are afraid of cryptocurrencies, there are reports that some big banks are even planning to create their own coin in the future instead of using the existing cryptocurrencies in the market. A big bank in Japan, for example, is planning to release its own cryptocurrency this year and will have parity with the Japanese Yen. Banks have been reluctant to welcome cryptocurrencies but they instead moving towards developing their own coin to streamline their operations.

[dongyi17]

If countries will embrace and use bitcoin as their means of transaction then fiat can possible become instinct...they have no use of it and all transaction can be made true virtual currency, machine operator..but these system cannot be done easily it will take time since this has been part of the country/world ever since.

[burnchan]

If this happen all people should know the basic of computer.It takes many more years to do that,maybe if that would be successful it would be the basis of other countries to follow that system.Well gudluck for them.

I think people are shifting from physical money to online transaction because it is more convenient for urban places. But for rural places, I think they will stick to physical money because they have less access to internet and some are not into technology. So I think the obsolescence depends on the location. it will not be true to all.

[charlzyeby]

A cashless society is safer, there is faster transaction and you don't have to be present always to have your transaction done for you. In countries where robberies are on the increase a cashless society can help reduce the possibility of such cases through the use of blockchain and other technologies that empowers the owners to take absolute responsibility of their wealth under strong protection.

[ngano ba]

A cashless society is safer, there is faster transaction and you don't have to be present always to have your transaction done for you. In countries where robberies are on the increase a cashless society can help reduce the possibility of such cases through the use of blockchain and other technologies that empowers the owners to take absolute responsibility of their wealth under strong protection.

That can be considered in the highly urbanized the cashless society , through the cryptocurrency technology but ,for the mountainous and rural areas in every part of the world , there would still be cash money to be use because , internet broadcast are limited with in this areas, so cash will not be extinct totally by this cashless society.

[kalawang]

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

absolutely yes. cause first of all cash is just a waste of material. if their no cash our society can produce more papers or they can save more trees. second people nowadays are tend to use more on technology so they will happy if their money is in safety right. just be aware of hackers. they can steal your money in your account

[19Nov16]

I'm sure that cash will not be affected even though bitcoin is very popular, as we know that bitcoin transactions are highly dependent on the internet so it becomes a big problem if the internet is problematic, but cash transactions are not internet dependent so it can be done anytime and anywhere.