If everyone starts using electronic money

[armansolis593]

It will not take too much time for paper money to disappear from the market.

No paper money will still be needed by many people there are still a lot of micro payments that electronic money cant handle. Only the rich country can have this electronic money while majority of the world are still in need of paper money like to one who live in Africa

At the present time, it is not yet clear whether financial institutions can adapt to that change in a timely manner.

If there was an adaption to take place it might be how the blockchain works, it might help them to connect with foreign investor more easy rather than having to go places and conduct meetings which cause them to make expenses.

[maydna]

If everyone starts using electronic money, infrastructure will also need to be developed proportionately. It will not take too much time for paper money to disappear from the market. At the present time, it is not yet clear whether financial institutions can adapt to that change in a timely manner.

it will need time before the paper money to disappear from the market because to prepare the infrastructure need big funds and time to launch besides that, the government will need to test so it will work properly. until that time, the paper money will still be used by the people and we can only wait until it's ready to be used. the government still learn about blockchain technology and I think they still test it for their development in the future and there will be a time for them to announce to the public.

[ropyu1978]

If everyone starts using electronic money, infrastructure will also need to be developed proportionately. It will not take too much time for paper money to disappear from the market. At the present time, it is not yet clear whether financial institutions can adapt to that change in a timely manner.

about this, there will be much debate. until now we still need paper money to deal with and fulfill our life every day. does not rule out, in the future later electronic currency will adopt all transactions in the world. but it will not happen in the near future, because to get there. there is always a world revolution that changes it. and I think it will make a polemic and a long debate.

[kiver]

I could not agree more if the crypto currencies got more accepted as form of payment it world not take much time for the fiat to stop being used and the New financial system starts to take over seriously when people how fast and comfortable to make a deposit or withdrew using the crypto currencies rather than wasting so much time on making a deposit or a withdrew  in  a bank they will come to see the truth

[currencydesigner]

The promise is that banning cash would end black markets, but for honest citizens, the end of paper cash brings many unsettling downsides. Besides that credit card transactions are already trackable, and electronic cash could bring that lack of anonymity to every single transaction you make.It has a possibility that government will lose more tax pay.

[Turkish88]

There is electronic money means cryptocurrency or credit cards like visa ?
If crypto we see what happened, blockchains speed going to zero, and fees going to infinite.
For me nothing better than cash, cash is anonymous also

[millgates]

People prefer like to use credit card rather than cash but using credit card us not so good for us because we actually still use fiat. But if we use cryptocurrency then there is no decreasing price because of inflation.

[brownyboy15]

Life would be a lot more convenient for us, but all of us must have these kinds of gadgets to access it.

[paolo099]

if you consider "electronic" money also debit/credit card or paypal for example, i have already almost replaced paper money.
Where i live everyone accept cards, i can even pay a shopping bag with my card!
Different story with crypto, only few shops are accepting it and we even have 2 ATMs in the center of the city which is nice but replacing paper will not happen in a long while.
I don't see the urge to stop using paper, digital payment are more efficient but every now and then you must have paper money otherwise you wont be able to pay anything.

[intoy_victor]

Well if everyone use digital currency it would be two kinds of result the good one is the transaction of money will be faster and reliable while the bad one is because of fastest transaction of money it could be use it dealing with drugs or anything.

[audaciousbeing]

If everyone starts using electronic money, infrastructure will also need to be developed proportionately. It will not take too much time for paper money to disappear from the market. At the present time, it is not yet clear whether financial institutions can adapt to that change in a timely manner.

When you talk about electronic money, it is not only bitcoin that can be regarded as electronic money even the money in your bank account is an electronic money, or the gift card you have, or the voucher, AliPay and a host of other things that can function as money. Whether financial institutions can adapt to that change is not a subject of discussion because they are even the one promoting it. They charge you when you want to withdraw via the counter, they dont even want you to come to the bank everything you want to do, there are online platforms, phone applications, USSD codes, financial service providers etc. because they have keyed into that dream already.

What should be the discussion is whether they are ready for digital money and I would say the answer is yes because a lot of these banks have experts working for them, updating their software and ready to roll into a new financial world but what I will say is the laws guiding their activities which if it allows them, it wont be long before everything fall in line

[3gon]

If everyone starts using electronic money, infrastructure will also need to be developed proportionately. It will not take too much time for paper money to disappear from the market. At the present time, it is not yet clear whether financial institutions can adapt to that change in a timely manner.

If this happens, fiat money will be useless and its value will deflate. But, the government will not accept this kind of situation and they will make amends to prevent it.

[bering]

if you say electronic money which mean bitcoin is not including it because cryptocurrencies is digital not an electronic money however until whenever fiat or paper money will never lack of interest although the growing of electronic money or digital money rapidly increase but most people will still consider use fiat because it's more easy even not just like electronic money use fiat not necessary to use internet connection for every transactions and fiat already exist since hundreds of years ago so not an easy task to changing habits use paper money

[icanscript]

I think it will not be necessary to cash your money or transfer it to a bank account. You can directly pay for your needs by e-currency.

[gua86402]

I don't think it's possible to replace fiat money with digital money!
Since the issuance of legal tender has led to the development of many industries, if the country does not issue legal tender, many industries will be closed and many people will be unemployed, all these social problems should be considered!
It's also true that many don't use digital money!

[aizen10]

it is more convenience for me to use electronic money, less hustle, no hard time and no waste of time. if all people use this e-money as a regular activity daily, more of us are ease from such problem mentioning above. it is more secure than to carry fiat money to spend, but to replace fiat by this e-money, it is impossible to implement yet. because 70% people around the world has a high usage of fiat than digital money/e-money, so meaning the world of e-money community is very far to happened.

[Hiimgosu]

It would be really awesome if all people in this world are using electronic money or digital money such as bitcoin. By this, no country will ban bitcoin or any other cryptocurrency existing in their country.

I think it is user friendly for everyone, by the idea of electronic money but the thing in here is the transfer fee.

[welljo0108]

If everyone starts using electronic money, infrastructure will also need to be developed proportionately. It will not take too much time for paper money to disappear from the market. At the present time, it is not yet clear whether financial institutions can adapt to that change in a timely manner.

If everyone starts using electronic money it can be easily to us to process  and transact  for paying payment and others important things we can do.but we need to be sure if thats are convinient to do.

[devikurella]

link" between electronic money and real-life goods has been broken with the arrival of digital technologies.




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[Denrius228]

If everyone starts using electronic money, I think there will be more burglaries, as there are many hackers in the world, but there are still few wallets.