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Author Topic: Digital Money = Cashless Society  (Read 3998 times)
ironman2014
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April 17, 2018, 07:38:42 PM
 #161

If this is true about China, then it's cool, I would like to have it in my country like in China. Paper money is an outdated way of shopping.

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April 17, 2018, 07:45:53 PM
 #162

The absence of cash will encourage the barter system, and as every well educated human being knows the natural evolution of a barter system results in a commodity-based currency which eventually will be gold and/or silver! A cashless society will kill the fiat paper system.
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April 17, 2018, 08:02:18 PM
 #163

The absence of cash will encourage the barter system, and as every well educated human being knows the natural evolution of a barter system results in a commodity-based currency which eventually will be gold and/or silver! A cashless society will kill the fiat paper system.
There would be a conflict when that happens, it would be hard to calculate economy and everything so I think that we are not yet ready enough to have a cashless society unless all country will unite as one in favoring this thing which I think would not happen, let us see in the future if it would be possible.
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April 17, 2018, 08:25:29 PM
 #164

Bitcoin is pushing us further into a cashless society and it will not be much longer until people are no longer using cash and everything is being done and paid for electronically. A cashless society is inevitable and the days of fiat are numbered.
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April 18, 2018, 12:16:36 AM
 #165

Bitcoin is pushing us further into a cashless society and it will not be much longer until people are no longer using cash and everything is being done and paid for electronically. A cashless society is inevitable and the days of fiat are numbered.

US Dollar, Euro etc.. are numbers = digital in cashless society
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April 18, 2018, 01:04:49 AM
 #166

The absence of cash will encourage the barter system, and as every well educated human being knows the natural evolution of a barter system results in a commodity-based currency which eventually will be gold and/or silver! A cashless society will kill the fiat paper system.
There would be a conflict when that happens, it would be hard to calculate economy and everything so I think that we are not yet ready enough to have a cashless society unless all country will unite as one in favoring this thing which I think would not happen, let us see in the future if it would be possible.
I think it is not that complicated if we will see a country that will become cashless because cashless society is a good step for a country to show that they will be going to be more advanced since cashless society will stop them from printing money and they can just use the blockchain technology so they can easily scan some transactions online.
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April 18, 2018, 01:16:51 AM
 #167

It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.

Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.

Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.

Bitcoin is a part of digital money. How is digital money is your country ??
using cashless payments is always good for a country because when a person do cashless transaction the record of the transaction will automatically been recorded in the system. also cashless transactions are fast and secure as compare to cash transaction.
Electronic money is a new level of cashless transaction. also it is a new way of earnings to many people. in my country (INDIA) RBI has issued a notice to banks to stop the transactions of digital money. so investors of INDIA are in a bit trouble.
I am also favor in cashless society but I won't also allow or agree with eliminating cash at all, we should just make bitcoin as an alternative way. So for me, I would choose how digital money just like bitcoin makes and function right now, I don't want to just eliminate cash at all.
We must be honest that cash is still needed in the current era and we are still comfortable using cash? after all cash will not disappear easily especially with the condition that era is still not too sophisticated. cashless society can not be applied at this time. maybe only a few groups of people who can easily use it because it will also depend on the country, you know there are still many places that have not reached the technology right?
bakekang008
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April 18, 2018, 01:32:17 AM
 #168

Digital money definetely eliminates the paper money involved in the system. But would it make the system completely cashless is the main question. Well, it can definetely bring in a "less cash" drive than the cashless one. Offcourse achieving a cashless society is the bigger goal but we need to wait for that for a while. For now, less-cash society is whats being offered with the advent of digital money, and the whole digitization process  alltogether.

Offcourse the cryotocurrency will add to this in a good and substantial way as it is based completely on digital money, created and existant over the cloud. This if regularised in a more advanced and accepting way, will definetely pave ways for cash-less economy and will eliminate problems assiciated with paper money like theft, laundering, corruption, etc.
Digital money now are very useful and trending. But how about others no how to used the digital money? I think the government will not depend on digital money because some people in one community are no knowledge what is digital money they can easy to spend using physical money.

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April 18, 2018, 01:34:02 AM
 #169

It's good to use digital money like bitcoin and other alternative coins, it is easy to use and no hassle. In my country we are already using digital money like bitcoin, but in limited areas only not at all using digital money. It needs a lot of development to be a cashless society.
BitcoinPanther
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April 18, 2018, 01:37:03 AM
 #170

I think digital money and the bid for a cashless society has been around even before the advent of bitcoin and the cryptocurrency in many parts of the world.  Many countries have adopted such form of payment and transactions decades ago, businesses and establishments find it convenient and economical (eliminating manpower and lowering overhead expenses).

Many people have took interest too in such mode of economic transition but not on a full scale rate.  In fact, most people i know would keep their cashless transactions to the minimum due to security risks involved (and the wide spread digital theft and anomalies around).

I,myself, would love to witness a cashless society, but perhaps, it will take a whole while more before that happens.

For now, let us be happy that part of our daily lives can be relied on the digital money we have in our electronic wallets.

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April 18, 2018, 01:41:33 AM
 #171

It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.

Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.

Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.

Bitcoin is a part of digital money. How is digital money is your country ??
Currently the government encourages its residents to use credit cards where fiat money is transferred to electronics, the system is believed to facilitate people to transfer in one transaction especially online transactions, but it should be underlined also that the system is not yet fully accurate to see still many people whose lives are still below the poverty line, in my opinion at this time the world is not ready without paper money.
Sadlife
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April 18, 2018, 01:43:25 AM
 #172

Our country isn't ready for a cashless society because there are still many people who suffers poverty who can't afford internet and device or gadgets that can access the internet. Instead they buy it for they're daily necessities like food, clothing and bills.

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April 18, 2018, 02:26:53 AM
 #173

Digital Money in our Country is not that Popular or seldom used. Most of the Folks her prefer it the old way.buying things with Physical Money. they don't want to do it electronically because they are afraid that their might get hacked. but for those people who work online, of course, they can only receive their payment thru online transaction.

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April 18, 2018, 02:33:29 AM
 #174

It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.

Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.

Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.

Bitcoin is a part of digital money. How is digital money is your country ??
In our country, digital money has a good move overtaking the traditional way, though cryptocurrency is not legal the good thing is it is not also illegal. And now many are already aware of it and transaction through this is growing.

crypto-bit
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April 18, 2018, 03:19:54 AM
 #175

It's good to use digital money like bitcoin and other alternative coins, it is easy to use and no hassle. In my country we are already using digital money like bitcoin, but in limited areas only not at all using digital money. It needs a lot of development to be a cashless society.

It's good to use the digital currency but what about others? many people don't know what is a digital currency only a few of us know that. That's why paper bills and coins exist to balance the flow of currency in a certain country.Cashless society might good if the people starting to use it and it has knowledge using digital technology but as we know it we are few who uses that technology.
karanggatak
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April 18, 2018, 07:32:03 AM
 #176

In my country digital money is still no regulation, all the use of digital money in my country does not have legal protection, so if there is fraud in it then the victim will not be able to sue in court, but who cares about it, bitcoin is created so that we can control our own assets in digital form as well as bitcoin have a definite supply of fiat.


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intucoin
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April 18, 2018, 07:37:53 AM
 #177

It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.

Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.

Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.

Bitcoin is a part of digital money. How is digital money is your country ??

wechat pay
or
alipay


here is china almost 75% people do not carry cash
just the mobile and you can spend your day
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April 18, 2018, 07:50:32 AM
 #178

In the era of digital money, monetary authorities in one country or region generally want to reduce the use of cash for security and cost reasons. Going to cash is a need driven process.

With the surge of electronic money and digital money, cash flow has come to an end, including the circulation of paper money and metal COINS.
First77
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April 18, 2018, 08:03:41 AM
 #179

In the era of digital money, monetary authorities in one country or region generally want to reduce the use of cash for security and cost reasons. Going to cash is a need driven process. With the surge of electronic money and digital money, cash flow has come to an end, including the circulation of paper money and metal COINS.

50% to 70% less cash in world economy will also be very good. As time goes by majority of countries will be cashless society.
Daimon88
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April 18, 2018, 10:40:45 AM
 #180



Going to tough to have Digital Money as crypto = cashless society ...unless banks are going to allow credit card use (and or application cards ..like litepay for

litecoin was supposed to be) and they just kill it dead...as not accepted

Bitpay needs to expand to all crypto (LTC) etc in some manner..they already have their foot in the door for maybe fixing this

as to other players, they are getting slap'd down fast by banks for even trying

just my view, as it stands now...


I think paper money will never come to an end, and if so it will take a long time because many people do not trust in digital currency. The reason is that it is not safe. I mean that one has no control over his digital wallet. If tomorrow the internet stop to any reason all the wallet will be closed and then nobody can claim his money. That’s why most people do not want to invest in digital currency.
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