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Author Topic: Digital Money = Cashless Society  (Read 3995 times)
sergiom
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May 20, 2018, 06:04:48 AM
 #361

Cashless society is a good thing Smiley Nobody can hit you at night and steal your money, cos you basically dont have it, lol. Only crypto
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May 20, 2018, 06:24:26 AM
 #362

It is true there are some countries that are legal to use bitcoin all using bitcoin such as shopping, transportation, eating, roads etc. if in my country yet because there are still many who use cash because my country just avoid the name of money laundering.
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May 20, 2018, 08:30:26 AM
 #363

Cashless society already common right now in digital world. With internet connection and technology development, cashless society is not a dream anymore but in cashless society we should be carefull with our digital data because its very fragile

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May 20, 2018, 08:44:36 AM
 #364

Cashless society already common right now in digital world. With internet connection and technology development, cashless society is not a dream anymore but in cashless society we should be carefull with our digital data because its very fragile
to anticipate fragility of digital data, there are several ways that can be implemented for cashless society. we can bookmark web link that we run, besides that we can add additional security such as 2fa, etc

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May 20, 2018, 09:03:31 AM
 #365

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 really seems like a good scenario but will not happen worldwide especially in poor countries. In my country also, the government tried to encourage digital transactions by giving incentives to people. People also used the digital options like debit cards to get those incentives and later all this stopped automatically. We are back to cash now. Also, there is very much illiteracy here in villages. Rural people are not able to even withdraw money from the ATMs even and have to take help of other people for this.
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May 20, 2018, 09:09:51 AM
 #366

Cashless society already common right now in digital world. With internet connection and technology development, cashless society is not a dream anymore but in cashless society we should be carefull with our digital data because its very fragile
to anticipate fragility of digital data, there are several ways that can be implemented for cashless society. we can bookmark web link that we run, besides that we can add additional security such as 2fa, etc
Yes, I agree that in a cashless way of monetary transaction we should be careful not to divulge any information that can make our account prone to be hacked, internet world is the main engine of cashless society and yes we already started it like using credited card, debit card and other electronics transaction.
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May 20, 2018, 09:13:28 AM
 #367

There is an increasing use of digital money in my country like cashless transactions using the national currency and some cryptocurrency like bitcoin abd ethereum. But cashless transactions are only limited to banks and some merchants that accept cryptocurrencies. It will more years before cashless system will fully use in this country but cryptocurrency users are on the rise and bitcoin is their main virtual currency in use.

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May 20, 2018, 09:16:42 AM
 #368

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 ??

Bitcoin is a digital currency, a digitsl money. And to be honest no one at this point can predict what will happen regarding the future of cryptocurrency. As we all know, there are ups and downs in using this digital currency. I actually believe what Warren Buffet said, in one of his interviews. You cannot use this digital coin at the moment due to its very unstable nature. But imagine what it will do if it becomes the primary means of trading. It will ultimately revolutionize the economy and it will destroy some old practices. Just think of it this way. Bitcoin will be killing some middlemen who earn through buying and selling and trading through arbitrage.
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May 20, 2018, 10:19:59 AM
 #369

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 ??
Most people nowadays are more comfortable in using cashless or online payment instead using cash or real money because  it is much faster to pay your bills and buying things, that is why there are so many incoming application in our country that you could used it to buy loads and pay bills through online.
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May 20, 2018, 11:04:23 AM
 #370

Basically, Cash has been transferred, but the cash was held by the bank, later transferred by the bank electronically, but the cash is still being held by debt.

The governments are leading projects to stop cash trades, which means that they encourage people to buy things in stores with Credit cards rather then cash, as they can track where the money goes, it's a financial instrument to prevent terror.
I believe that soon or later, cash will disappear, but at the same time I don't believe that bitcoin/ cryptocurrencies are going to be those who replace it, as centralized currencies allow the governments to track and defend their citizens from frauds, a think that they can't do in decentralized environments.



There will never be a cashless society because of human needs of money and for more convenient and safer way of transfer. It will be more hassle to make all digital currency apply
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May 21, 2018, 12:23:33 PM
 #371

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 don’t know, but if that’s possible then I think we should start selling everything for free. If you are going to think of such, you should at least think about the poor people in the community and make sure that whatever you do will also be in favor of them too, cause they are humans too. The problem most of us do have is that we do things selfishly and don’t even consider those around us. It is very bad.

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May 21, 2018, 01:13:46 PM
 #372

Philippines is way far behind, tho most people now prefer online shopping. Also because credit cards are limited to the middle-class population.
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May 21, 2018, 01:17:32 PM
 #373

Cashless society is a good thing Smiley Nobody can hit you at night and steal your money, cos you basically dont have it, lol. Only crypto

Not entirely true.

You still need to be careful about what comes out of your mouth.



See this? This is a $5 wrench. You can crack any encrypted wallet with this.




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May 21, 2018, 01:41:08 PM
 #374

Cashless society is a good thing Smiley Nobody can hit you at night and steal your money, cos you basically dont have it, lol. Only crypto

Not entirely true.

You still need to be careful about what comes out of your mouth.



See this? This is a $5 wrench. You can crack any encrypted wallet with this.
A cashless society is bound to happen because everybody in this world wants to do things with ease. A cashless society allows an individual to move and transact financially with just a click on his phone or laptop that makes things very fast and easy for a better life of no restrictions.

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May 21, 2018, 02:01:50 PM
 #375

may sound unfamiliar to most of us even though in everyday life many of us are already accustomed to practicing it. The simplest example is the use of debit cards (debit cards) are increasingly popular followed by the number of merchants who can receive payments from banks using EDC machines.
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May 21, 2018, 02:13:30 PM
 #376

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 is possible! I am sure that this era is the start of cashless society. There are now many big companies like McDonals, KFC, Paypal and Microsoft that are now accepting bitcoins as payment. I am sure that most of the stores someday will accept bitcoin as payment.


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May 21, 2018, 05:19:15 PM
 #377

Cost considerations play a role: banknotes and coins are costly to produce, distribute, handle, and replace. Currently handling costs related to cash are cross-subsidised by commercial banks’ revenues.
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May 21, 2018, 05:41:58 PM
 #378

Authorities around the world specially in Asia recognizing Bitcoin and expecting to finalized this year, they have attempted to rein in the global boom in trading Bitcoin and other cryptocurrency a form of digital money created and maintained by it's users. In China they start to banned initial coin offering and shut down local trading platforms, while the South Korea where speculation on cryptocurrencies is also life is working on plans to ban virtual coin exchange.
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May 21, 2018, 06:02:40 PM
 #379

It has started long ago yet as far as the entire country is concerned it did not actually get through the majority since small stores don't use digital payments. Stores like malls do have this yet still allows acceptance of cash. And as of now it might not be implemented as there are so many factors yet to be considered like internet connectivity which is so important for a cashless transaction.

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May 21, 2018, 06:18:18 PM
 #380

The growing popularity of private digital currencies and the distributed-ledger payment technologies they use also have central banks on alert. They can ill afford to be left behind on the currency or the technology. The problem, Ingves recently said, was that all payments could end up being controlled by private-sector banks.
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