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Author Topic: Digital Money = Cashless Society  (Read 3852 times)
MainIbem
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March 25, 2018, 08:39:31 PM
 #21

Going cashless where I am is not for now. It is not because the people don't like it but because of lack of infrastructure to go cashless.

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March 25, 2018, 08:51:47 PM
 #22

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.

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March 25, 2018, 09:33:39 PM
 #23

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 ??

that is less cash society, not cashless society. technically, the cash is transferred by the bank that doesn't mean no cash in the society. cashless society is impossible thing, because it always needs internet every where every time with not every people has internet access or knows to use it like countryside villagers in my county. not every people has credit or debit card.
bitcoin still does not take a part of this society, because it is not that familiar moreover its volatility, even not a legal currency.
I think it's the same in most countries.


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March 25, 2018, 09:39:37 PM
 #24

I believe paperless currency using on the internet in any form is digital money. Transactions made via credit/debit card or any other means like Bitcoin etc are a digital transaction which completes a trade. I support cashless economy because it is eco-friendly and easy to use.
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March 25, 2018, 10:20:55 PM
 #25

I believe paperless currency using on the internet in any form is digital money. Transactions made via credit/debit card or any other means like Bitcoin etc are a digital transaction which completes a trade. I support cashless economy because it is eco-friendly and easy to use.

In a country like India it cost $4,000,000,000 to $8,000,000,000 to print a completely new set of currency notes. Money printing by Central banks/governments costs money
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March 25, 2018, 10:33:55 PM
 #26

Yes we are in the time of improving and implementing cashless society and we already have digital money so that if cryptocurrency was totally use by each and everyone the paper money was replace and we already have using digital. Even some of country didn't want to accept or reject the cashless society they didn't stop growing and growing the digital money.

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March 25, 2018, 10:37:21 PM
 #27

Going cashless where I am is not for now. It is not because the people don't like it but because of lack of infrastructure to go cashless.

People just need to have a bank account and shops/stores need to have a POS machine for the country to go cashless. Should not be difficult.
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March 25, 2018, 10:44:05 PM
 #28

The elimination of cash / paper money will likely always have a negative, detrimental, effect upon an economy and civilization/society as a whole. Cash will probably always be a more efficient method of carrying out transactions in some areas. Banning cash has a high potential to reduce the efficiency of how everyday business is done, which in turn has a potential to kill jobs, economic opportunities and otherwise cause recession/economic slowdown.

Eliminating cash further centralizes business and economies. Having electronic money compete with fiat paper money is a better precedent as it invokes greater competition which in turn gives consumers more options which generally translates to elevated standards of living, higher economic prosperity, greater funding opportunities for small businesses which in turn create jobs and strengthen the economy.

Eliminating cash also increases the likelihood of surveillance, manipulation of markets and other negative precedents. It could give banks and similar entities greater control over how consumers spend their money. Crypto currencies being banned for purchase by some banks and investment firms is a good example of this. If all currencies were denominated in an electronic format, this would make it easier for banks to ban the buying and selling of crypto and other things.

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March 25, 2018, 10:52:36 PM
 #29

China's cashless society is realized through WeChat payment and alipay payment!

They rarely use debit and credit CARDS!

This kind of payment method is also the application of block chain technology!
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March 25, 2018, 10:57:28 PM
 #30

It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.
If you think that paying with debit and credit cards does mean that you are going to be a cashless society then majority of the countries will be like that, as every major shopping centers around the world will accept cards, you need to have the local currency if you are going for local shopping or street shopping where they wont be accepting cards and that is the case around the world too.


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March 25, 2018, 11:00:47 PM
 #31

If digital cryptographic currency is legal in China, many people would prefer to pay with BTC!

BTC payment can protect people's privacy very well!

Cashless society makes it convenient for people to travel!

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March 25, 2018, 11:01:25 PM
 #32

I don't know if a cashless society is fair to all of us. Because there are so many people who are not using the internet and some don't have gadgets. I think it is better if we use fiat and digital money at the same time.

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March 25, 2018, 11:09:53 PM
 #33

I don't know if a cashless society is fair to all of us. Because there are so many people who are not using the internet and some don't have gadgets. I think it is better if we use fiat and digital money at the same time.
when it comes to that direction is the discussion of the destiny of what has been outlined by God to us all and live how we to mix it up so it can run well

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March 25, 2018, 11:11:11 PM
 #34

Bitcoin is created as digital money but today the value of bitcoin is high and can not be equated with money in general, high market exchange rate is what makes bitcoin can not be equated with money and more inclined to the type of gold that has a high value as well. Digital money in the my country like other neighboring countries but some and perhaps 98% of banknotes are still used by communities and traders, so the paper money is still in use until the next century or more.

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March 25, 2018, 11:15:24 PM
 #35

Our country hasn't fully achieved yet the cashless society but right now there's a lot of mobile apps that can be use for paying load, bills and even paying through online in an online shop although crypto currency hasn't fully embraced here the demand on those apps is getting higher as the year goes by.

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March 25, 2018, 11:15:50 PM
 #36

If the digital cryptographic currency is legal around the world, bitcoin and other encrypted digital currencies or the ultimate replacement of the cashless society.

The encryption currency is not controlled by the central bank, the quantity is limited, can resist the inflationary pressure completely, protect people's property!


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March 25, 2018, 11:16:41 PM
 #37

China's cashless society is realized through WeChat payment and alipay payment! They rarely use debit and credit CARDS!

WeChat payments must be getting funded by bank accounts (digital Yuan) or debit/credit cards. Ultimately it is "Chinese Yuan"
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March 26, 2018, 03:10:50 AM
Last edit: May 04, 2018, 01:33:22 PM by First77
 #38

I don't know if a cashless society is fair to all of us. Because there are so many people who are not using the internet and some don't have gadgets. I think it is better if we use fiat and digital money at the same time.

70% less cash/currency will also be good for the world economy.
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March 26, 2018, 03:40:41 AM
 #39

I think cashless society is vulnerable in many ways. You don't have anything to trade if you ever go outside of the internet range. If you've ever travelled you know how easy it is to get into a blind spot where your phone doesn't work. And in such spot your internet won't work too. They won't have card terminals and you won't be able to buy fuel for your machine or a bottle of water. It's too early to try to live in a cashless society.


I think maybe in the future cashless society as of now is not the proper time but with the new technology wich bitcoin can play a major role in digital transactions hope we can be a cashless society.
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March 26, 2018, 03:47:22 AM
 #40

It would happened and possible in the near future but still it depends on the country implementing and regulating digital currency such as bitcoin. In my point of view money bills still exists because not all knows bitcoin or any digital currencies so i guess it just a matter of time educating them. 

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