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Author Topic: China Can’t Afford a Cashless Society (Perhaps No One Can)  (Read 333 times)
Pattart
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November 06, 2018, 09:19:09 AM
 #61

Cashless society soon or later will happen. Information technology including internet user growing very fast and peoples can use internet making transaction more faster and easier. I am believe in next 5 years, people will not using paper money for their transaction anymore except in place without internet connection
I think it's too fast to implement a cashless society in a country that has a very large total population with a very large number of poor people too, China is a big industrial country but they also have many poor people, in 5 years it won't make a big difference , it took few decades to change from cash to digital..

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nazaididuan1
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November 06, 2018, 09:32:18 AM
 #62

In fact, China's mobile payment is now very developed, and the preferred payment method for Chinese people is mobile payment!
You think that China does not have a cashless society. It may be that China's mobile payment is not paid in cryptocurrency!

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November 06, 2018, 10:24:21 AM
 #63

I think it's more caused by people switching to digital payment methods out of convenience and increasing practicality and user-friendliness of these methods that banks just can't keep up with.

Not surprised about the anti-capitalist sentiment. In today's day and age of global interconnectedness, private enterprises can achieve more power than centralized structures due to the sheer reach of potential consumers. (Just look at at Amazon). Governments don't like this. Trump hates Bezos.
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November 10, 2018, 06:58:30 AM
 #64

You should learn Chinese culture. You don't know China. You must know why the United States is so afraid of China. This shows that the rise of China is affirmative. They have succeeded in a cashless society. But they did not use cryptocurrency.

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