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Author Topic: Digital Money = Cashless Society  (Read 3995 times)
Hazaki
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April 24, 2018, 10:24:46 PM
 #221


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

Digital money in my country ain't deployed at all unfortunately , and until these past couple years , citizens here didn't have the right to own any foreign currencies or the right to process a digital card (visa/master card .. ) or an E-money account (Paypal/skryll .. ) .
And even now that we do it's only limited to 1k euros / year , which is really nothing at all .
And we still don't have access to Paypal also , the other day i was deploying the Paypal API for my University web site project , and when i wanted to process payment with a Paypal account created in my country , payments couldn't be processed and automatically rejected ..
As for bitcoin ,roughly 5% of my country's citizens know about it , and even those who does have a very vague understanding and knowledge about what is it or what technology is backing it up ..
And this is certainly the case of any developing country ..
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April 24, 2018, 10:31:42 PM
 #222

Switzerland is obviously heading for cashless society. They're developing a new token Saga with low volatility and without an opportunity to speculate. It means it will only be appropriate for payments. However, it'll not be anonymous

I guess that country really evolve in short period of time when it comes to currency, maybe mosy of the people their was middle class up to higher class in which they are all capable to acqyire cashless society and I highly believe that they were all aware with Bitcoin and how this currency can possibly change the world, I think thats great but how about to the place where in most of the people was less fortunate? Do cashless society will be applied and succeed? Of course no.

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April 25, 2018, 01:47:35 AM
 #223


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

Digital money in my country ain't deployed at all unfortunately , and until these past couple years , citizens here didn't have the right to own any foreign currencies or the right to process a digital card (visa/master card .. ) or an E-money account (Paypal/skryll .. ) .
And even now that we do it's only limited to 1k euros / year , which is really nothing at all .
And we still don't have access to Paypal also , the other day i was deploying the Paypal API for my University web site project , and when i wanted to process payment with a Paypal account created in my country , payments couldn't be processed and automatically rejected ..
As for bitcoin ,roughly 5% of my country's citizens know about it , and even those who does have a very vague understanding and knowledge about what is it or what technology is backing it up ..
And this is certainly the case of any developing country ..

not all developing countries as you mentioned above.
my country uses digital money for various transactions such as buying an item in a shopping center.
which is a problem they just do not receive payment with bitcoin but with other digital money they can accept it. it is caused because the value of bitcoin price is very unstable different from other digital money that exist in my country.
but I hope one day bitcoin will be received just like any other digital money.


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shesheboy
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April 25, 2018, 02:12:28 AM
 #224


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

Digital money in my country ain't deployed at all unfortunately , and until these past couple years , citizens here didn't have the right to own any foreign currencies or the right to process a digital card (visa/master card .. ) or an E-money account (Paypal/skryll .. ) .
And even now that we do it's only limited to 1k euros / year , which is really nothing at all .
And we still don't have access to Paypal also , the other day i was deploying the Paypal API for my University web site project , and when i wanted to process payment with a Paypal account created in my country , payments couldn't be processed and automatically rejected ..
As for bitcoin ,roughly 5% of my country's citizens know about it , and even those who does have a very vague understanding and knowledge about what is it or what technology is backing it up ..
And this is certainly the case of any developing country ..

not all developing countries as you mentioned above.
my country uses digital money for various transactions such as buying an item in a shopping center.
which is a problem they just do not receive payment with bitcoin but with other digital money they can accept it. it is caused because the value of bitcoin price is very unstable different from other digital money that exist in my country.
but I hope one day bitcoin will be received just like any other digital money.

Agree. Most of the online stores are still didnt implement bitcoin to a part of their service because they only think about the volatility of it. However not all cryptos are volatile because there were also other coins that may seem stable, like for example etherium and other alts such as litecoin or dash. if these merchants do only use these coins, i think itll be no problem for them and for us to adjust for the price. but in terms of bitcoin in my country , there were now many shops and stores that accepts bitcoin here in our country but of course cash is still the most mainstream currency that oftenly been used here.
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April 25, 2018, 02:45:18 AM
 #225

although the existence of digital money today is a necessity for transactions or other activities but that will not completely eliminate fiat money in general. because I think there are many things to do in cash means that not everyone understands a transaction activity that is only done with digital money, especially in countries that do not have high economic expectations. I think people in poor countries may not accept the existence of digital money as a means of payment because of the lack of knowledge about digital money. I think to eliminate the culture by using cash this of course requires a process that is not easy.
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April 25, 2018, 05:19:41 AM
 #226

Electronic money are now in all more or less wealthy countries with a steady banking system.
I can remember those days when I didn't even have a credit card, and now these PIN-pads are everywhere, and I can buy, say, a high-end vehicle without even leaving my home.
Ha-ha, I'm waiting for those days when bitcoin's behaviour on the market normalizes and I will be able to buy a bottle of beer using BTC  Roll Eyes
First77
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April 27, 2018, 12:12:03 PM
 #227

Cashless society is really a good idea but the only problem is the countries that is not capable of handling a huge number because not every country is rich enough to have bitcoins running in their area.

It is said China is a cashless society and there is very little bitcoin in China. Debit cards and credit cards can make a country cashless society
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April 27, 2018, 07:51:52 PM
 #228

The use of digital money such as bitcoin may reduce the use of paper money. If a long time the community gets used to it, then the state of paper money may be replaced. Because after all the more here, everyone needs more easy and simple things.
yonjitsu
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April 28, 2018, 01:01:54 AM
 #229

That is true since we know that digital money/currency is in binary form, so we don't need the tangible ones to pay our everyday needs. But since bitcoin and alternate cryptos have the same weakness during offline, it's really hindering its purpose to have a cashless society that will be working good.

perfryan
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April 28, 2018, 03:10:38 AM
 #230

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 ??







Digital money.to be legal it is means of payments.
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April 28, 2018, 03:54:16 AM
 #231

You are very correct in your analogy of digital money equal to cashless society. And there is where society is headed. The advent of cryptocurrency is facilitating the emergence of a cashless world more quicker than expected.

However, the availability of internet and knowledge of computer will hamper the process in less developed countries.

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April 28, 2018, 08:33:38 AM
 #232

It all sounds beautiful if you live in a metropolis, with a high level of automation and amenities. I do not know, maybe 20-30 of the world's population lives in such conditions. The bulk of the population lives in the countryside, away from civilization, where the car will always travel along local roads. Tell them about the advantages of debit and credit cards. If they take away cash, the only thing they have left is to go to barter, as in the Middle Ages. So far, to the cashless society, we are still very far away as a whole.

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April 28, 2018, 09:09:18 AM
 #233

If this digital money will soar around the different places in the world , and will be accepted by every citizen, then this will be the beginning of cashless society.Where in all transactions and payments will be through digital way.
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April 28, 2018, 09:21:26 AM
 #234

Digital money has been around since the dawn of plastic money or cards (probably even before that but I can't be too sure). Anyway, we've gone a long way technologically speaking. Before, you'd really have to scramble to be first in line when paying your bills. you need to go to payment centers to pay your bills and most of the time you'll have to go to different payment centers. Now, banks have allowed utility bills payment through mobile apps which made life really convenient to most people. However, it didn't totally replace old methods of paying as payment centers are still around. What changed though, is the independent payment centers worked with different companies that allowed them to centralize the way people pay for bills, meaning one can go to the nearest payment center to pay bills for utilities like water, electricity, internet, credit card bills, etc.

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April 28, 2018, 09:28:45 AM
 #235

I think that in 5 years there will be no paper money at all, they will become history. They will have to replace the crypto currency, but that's not yet clear.

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April 28, 2018, 04:51:56 PM
 #236

Digital money like Bitcoin is more convenient than any other payment method in a way that it is fast and easy. Here in my country I regularly use Bitcoin transaction in buying prepaid loads, paying bills and sending money to local remittances without any hassle.
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April 28, 2018, 06:54:21 PM
 #237

Yes ofcourse I have heard too and that's hood it means everybody is literate enough to handle gadgets and Internet and phones
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April 28, 2018, 07:02:05 PM
 #238

Yes ofcourse I have heard too and that's hood it means everybody is literate enough to handle gadgets and Internet and phones

Digital currencies are very convincing and very user friendly for all people so digital money is new way of transaction and their basic purposes so I think it takes some more time to make this changes in all our life.

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April 28, 2018, 07:15:06 PM
 #239

A society cannot be called completely cashless society even if it is mostly using digital money. We cannot still deny the fact that we need the paper money to regulate the economy of our country and to identify us that the currency we are using is belongs to that society.
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April 28, 2018, 07:23:31 PM
 #240

A society cannot be called completely cashless society even if it is mostly using digital money. We cannot still deny the fact that we need the paper money to regulate the economy of our country and to identify us that the currency we are using is belongs to that society.

well the economy stands on debt that's basically not even backed by anything. Meaning we dont need "cash" to regulate the economy. We just need to make more debt. Although i do somewhat agree with your point though that cash plays a certain role in ones culture.

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