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Author Topic: Digital Money = Cashless Society  (Read 3998 times)
Ca.ming14
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April 18, 2018, 11:00:22 AM
 #181

digital money here in our country is also common by using debit or credit card or sometimes through internet or online bank, ofcourse this way of buying or spending money is very convient nowadays, but still not all community is familiar with it, so they still prefer using the paper money. Samething with Bitcoin, other people don't recognise it and other people is not familiar using it.
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April 18, 2018, 11:06:21 AM
 #182

Yes, digital money is now being used in every part of the world. Its very convenient in a sense that you dont need to bring a bag of money just to purchase a very expensive things. Just a swipe or a just scan away, its already paid. Our new era is needed to have a new innovation for the progress and for it to be blend in our current high tech world. Our world is advancing, so do the apps and products. But somehow, there are still people are into basic way of paying because they are used of it. Or maybe, those people are not yet introduce in the new method of paying. We can wait just for a few more years and this world is going to be cashless society.
webdevmastery
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April 18, 2018, 11:12:24 AM
 #183

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 ??

cashless society is really good because in this way there will be more people who are going to invest today if the plan will really happen in the future and transactions will be a lot more faster and easier because the currency is volatile and that's the reason it was profitable.
First77
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April 18, 2018, 04:03:26 PM
 #184

Yes, digital money is now being used in every part of the world. Its very convenient in a sense that you dont need to bring a bag of money just to purchase a very expensive things. Just a swipe or a just scan away, its already paid. Our new era is needed to have a new innovation for the progress and for it to be blend in our current high tech world. Our world is advancing, so do the apps and products. But somehow, there are still people are into basic way of paying because they are used of it. Or maybe, those people are not yet introduce in the new method of paying. We can wait just for a few more years and this world is going to be cashless society.

You can buy electronics (TVs, computer/laptops etc..) via online shopping.

Big payments like cars, houses, Gold etc.... were always done by cheques or bank-wire transfers. $50,000 or multi-million dollars business deals are done by bank-wires since 1970s.
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April 18, 2018, 04:08:02 PM
 #185

Those who lives in a progressive country can attain this cashless society. But there are still third world countries that have areas that doesn't have access to 24 hour electricity. This being said cashless society maybe only be dream for them until they have access to electricity. Here in my country, there are even areas where electricity is rotation, meaning one city have electricity, then another will not have in the next 4 hours.

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April 18, 2018, 04:30:07 PM
 #186

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 ??

What about if you go to the market and buy two pieces of bread or egg, would you use debit card or the vendor accept debit card? If you buy a street food, would you use debit card or credit card in your country? Cashless society may possible but the existence of physical money is still existing. In my country, we prefer paying and buying through the use of physical money.
The reply of yours quite not related to what the op started to discuss for this is not about a simple things that the digital currency must to carry on. Of course digital currency will most probably start within the boundaries of what we so called technologies. How could you transfer the money through debit card if the store or the foods in the street didn't have gadget for your card? Cashless will be appreciated inside the boundaries of upgraded system that can adopt the new ways of technology's revolution.

In addition do not expect digital currency to start in low quality business.

First77
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April 18, 2018, 05:50:35 PM
Last edit: April 18, 2018, 07:04:58 PM by First77
 #187

Those who lives in a progressive country can attain this cashless society.

Cheques are the oldest forms of cashless transactions. Any transaction over $10,000 is done by cheques since the banks arrived
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April 18, 2018, 06:38:30 PM
 #188

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 ??
It’s true that digital money and cashless society  sound very fascinating and it’s also gaining a lot of popularity among the people throughout the world.But still it’s there are many years before cashless society can be found throughout the world without any problems because firstly cashless society requires electricity and there are many countries in the world where it is not there. It also requires a stable Internet connection and there are many places in the world where Internet connection is not available  or very poor.
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April 19, 2018, 06:11:15 AM
 #189

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.
Not yet because cashless society means that they have no cash money and china has now announced that their people can now trade and deal in bitcoin. In the near future no doubt china will be cashless society. It is better but for that everyone should have internet and will know the use of internet. In cashless society the people will have no worry about stealing and looting their money.
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April 19, 2018, 06:25:09 AM
 #190

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.
Not yet because cashless society means that they have no cash money and china has now announced that their people can now trade and deal in bitcoin. In the near future no doubt china will be cashless society. It is better but for that everyone should have internet and will know the use of internet. In cashless society the people will have no worry about stealing and looting their money.
Digital Money intersect most directly with the real economy. Virtual currencies with bidirectional flow may be bought and sold according to prevailing exchange rates and may be used to purchase both real and virtual goods and services.
Rizky Aditya
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April 19, 2018, 06:32:01 AM
 #191

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.
The same case is in my country because there are no credit cards with all the people, because the banks do not issue credit cards to its holders. They can only issue debit cards. The other reason is that many people still do not know what is bitcoin and digital currency and that’s why they don’t invest their money in cryptocurrency. It will take more time to enjoy cashless society.
anakkampung17
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April 19, 2018, 06:32:45 AM
 #192

Now the era of Technology. Perhaps almost 70% in this world humans can already make transactions without money. And it's easier but is it safe not to lose? What about humans who still live in remote villages who do not know the meaning of Technology? I think it is currently in balance because money will always be a means of exchange and turnover of a legitimate transaction.
Supercrypt
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April 19, 2018, 11:32:03 AM
 #193

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.
Cashless society has been going on, at least for my country and it just seems digital currencies only came to speed things up. People are already starting to get used to the idea of not carrying cash around and then making use of the digital space to make transactions locally and globally.

There is still a lot of limit and policies, most especially when making global transactions which cryptocurrency has changed and that alone for most people who make international transactions alone has made the idea of having cryptocurrencies very interesting and sidelining the banks.
First77
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April 19, 2018, 01:26:41 PM
 #194

The currency in circulation, at Rs18.4 lakh crore on April 06, is higher than the Rs17.9 lakh crore at the time of demonetisation, according to RBI data. This increase is due to improved economic activity, but there needs to be much more currency compared to the existing supply,to keep pace with the growth.

https://www.msn.com/en-in/money
zuyfg888
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April 19, 2018, 01:31:31 PM
 #195

Just like all other thinking about bitcoins. It could be a virtual money or like a digital money they say. If bitcoin would be legalized, bitcoin can be the money of any society in the world. We use digital money instead of cash. We simplify things through our innovations. Getting involve with bitcoin or in digital money could be the biggest innovation in a society.
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April 19, 2018, 04:29:25 PM
 #196

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.
Well, we can say that cash itself is gradually becoming extinct but not to a large extent yet. Also, in some places where there may really be some limitation to technology and internet, having a cashless society is really going to be hard. I believe the developed worlds are going to always be the ones to always get this in play first, looking at the way most places in the developed world are already going cashless and most of the people who are vast with the internet hardly carry cash around. With digital currencies evolving more and more, I am sure it would even get better.
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April 19, 2018, 04:36:31 PM
 #197

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 ??

I prefer on living a cashless society because the transactions will be a lot more faster and there will be more investors of cryptocurrency that will be going in the market that will makes the price of bitcoins to increase even more.
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April 19, 2018, 05:42:37 PM
 #198

I believe that anything valuable transferred through the digital medium is a digital money irrespective of the form. Not necessary that you should earn it from the internet. You can always use your current tangible money and ask your bank to enable internet banking for your account. In that case, your cash will stay at the bank but your electronic transactions will pass the information from one point to another and bank will deduct that amount from your balance. Bitcoin is fully based on information and clever code there is nothing tangible other than the actual device.
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April 19, 2018, 06:31:30 PM
 #199

You seem to be little bit confused here so does everyone else about this concept. Without any doubt, Bitcoin is a type of digital money but there are two types of digital money i.e. centralized and decentralized and government mostly supports centralized currency as they can keep a watch. Due to which despite governments promoting digital money many are against Bitcoin as it comes under the category of decentralized currency.

:...:
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April 19, 2018, 06:32:13 PM
 #200

The cashless society is good for the country it will reduce the corruption. But digital money(cryptocurrency) again it will increase the corruption rate so both are same.

To make cashless society is no easy, only educated people can understand this digital currency what about uneducated? how can we teach them? it's not an easy process takes years.
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