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Author Topic: Digital Money = Cashless Society  (Read 3995 times)
jaysabi
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June 24, 2018, 08:18:01 PM
 #681

I think digital money is just as an alternative to payment, fiat will never disappear in society
There are possibility that fiat money maybe obsolete because the technology keep on advancing and people most daily activities payment were done using the post terminal payment, card and TT.

Physical fiat money, I could see since most advanced economies have been moving in that direction for years, ever since paper checks started acting as an analog for cash. Credit cards soon started eating up market share, and that pace continues to accelerate now that everything is digital. Physical fiat will be replaced by digital fiat, but I don't see digital fiat being replaced by something else.
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June 25, 2018, 01:27:55 AM
 #682

The cashless society will only occur if all of the citizens of the most countries are aware to what is bitcoin. They will only patronize cryptocurrency if they know a lot of information about cryptocurrency.

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June 25, 2018, 01:36:54 AM
 #683

In the country where I am from is also practically without money, since hyperinflation is so high that you would literally need a wheelbarrow of cash to make a purchase, that's why debit cards and transfers are so common, we only use cash to pay for the bus rides.
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June 25, 2018, 02:10:13 AM
Last edit: June 25, 2018, 02:20:23 AM by Daboy_Lyle
 #684

Casheless Society

Due to the improvements of Hi-technology the payment methods are also being effected by the modernity of everything. Paying with physical or fiat money is not usually used by cryptocurrency users.  Paying using phone is being developed by the society. Almost 50% shops in the world accepts crypto as a payment method because some of the owners of shop or managers are traders on crypto. That's why digital currency is being accepted by the society.

That's my idea on Cashless Society,  what's yours?

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June 25, 2018, 02:28:31 AM
 #685

I think digital money is just as an alternative to payment, fiat will never disappear in society
Of course fiat will never disappear, only version of fiat will be renewed from paper money will become digital currency, this is a natural
thing change happened effect of a change of era dude, you don't need to worry, fiat will continue to survive but cash will disappear

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June 25, 2018, 05:04:28 AM
 #686

If there are many establishment , industries and companies accept payments of bitcoin, and the entire highly urbanized areas in the country will receive payments of bitcoin then it will turn out to be a cashless society you are living.
This is one of the possibilities that digital money can lead to. As far as I think a society without cash is not possible because the governments across the world just do not want their currency to disappear. Also there are countries where the cash has disappeared due to the inflation or the due to the fact that the purchasing power of the money has completely faded. If the crypto is legalized by all the countries, it will replace the cash.
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June 25, 2018, 06:34:01 AM
 #687

I think digital money is just as an alternative to payment, fiat will never disappear in society
There are possibility that fiat money maybe obsolete because the technology keep on advancing and people most daily activities payment were done using the post terminal payment, card and TT.

I am believe paper money will obselete in the future because with smartphone peoples can make transaction. Internet transaction can make our life more easier

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June 25, 2018, 06:43:03 AM
 #688

Cashless society is preach all over my country, It is been encourage by government and CBN but in reality I cannot call my country a cashless society, So many businessmen and businesswomen are still having the stone age mentality. Most of them do not accept online transfer of funds or have POS.

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June 25, 2018, 06:49:04 AM
 #689

Digital money if you use it you only need to pay the bills to pay for the bills, but if they are widely used and the permission of the government still be able to issue the money of the bitcoin itself
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June 25, 2018, 06:54:34 AM
 #690

yes you are right but with a digital currency all transactions can be more secure and comfortable and do not have to meet somewhere.
guppak
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June 25, 2018, 07:12:47 AM
 #691

I think digital money is just as an alternative to payment, fiat will never disappear in society
There are possibility that fiat money maybe obsolete because the technology keep on advancing and people most daily activities payment were done using the post terminal payment, card and TT.

Physical fiat money, I could see since most advanced economies have been moving in that direction for years, ever since paper checks started acting as an analog for cash. Credit cards soon started eating up market share, and that pace continues to accelerate now that everything is digital. Physical fiat will be replaced by digital fiat, but I don't see digital fiat being replaced by something else.

In my opinion, the lovers of cryptocurrency, Bitcoin etc. do not ask the local government to accept crypto and remove the fiat. No.
How great if a country can use crypto and fiat in their economy.
Crypto lovers do not want to be hostile or hate fiat. We weave crypto and fiat. Because We know that there is a small society that does not know the digital world. They need fiat. Remote villages far from the reach of the digital world.
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June 25, 2018, 07:45:40 AM
 #692

Never before can digital money replace cash, at present there are quite a lot of people predicting that crypto money will replace cash but I think there are still many inadequacies in electronic money, so it is difficult to put They are circulating in the economy.
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June 25, 2018, 10:18:04 AM
 #693

Yes, it is very convenient and cool.In my country, cryptocurrencies are not yet so common.But every day there is some news that are associated with cryptocurrency.Most likely, soon it will be legal and everyone will use it.
It is very easy to use your wallet for transactions within seconds and we can not see any other source which is helping us with frictionless transactions like the Bitcoin. We do not need cash as we know that how to use this technology and for those who do not know what is it then everything has a solution and they can learn about it how to use it will benefit them the most.
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June 25, 2018, 10:22:14 AM
 #694

can create a trade that is practical, simple, and also more effective because it can shorten the time and place to make transactions. but for a small thing or a small item, can get paid with digital money? that's the big question that's in me.
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June 25, 2018, 10:36:24 AM
 #695

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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 what will absolutely gonna happen because the bitcoins is the start of the society being cashless because them make the people familiarize that is they want to be a cashless society bitcoins and the other cryptocurrency is the one that they can apply to their daily living in order to be ready for the next era of currency. Here in our country it is yet being practice in some plcaes but of course the majority of it is sticking into the old ones but seeing people that uses it makes me proud
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June 25, 2018, 02:03:16 PM
 #696

China had issued 7,030,000,000 bank cards by the end of 2017, meaning each Chinese national has about 5 cards on average, according to a new report released by the China Banking Association.   Shocked
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June 25, 2018, 03:50:17 PM
 #697

For me, it can happen, but the percentage on digital money equal to a cashless society is very meager. We all know that there is only a few establishments that are accepting bitcoin comparing to that establishment and companies that are accepting bitcoin as payment. Also, the acceptance of bitcoin is still meager even it is accessible and expensive. Maybe in the future, digital money is equal to cashless society if bitcoin and another cryptocurrency become legal and the acceptance grow.
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June 25, 2018, 04:08:50 PM
 #698

For me, it can happen, but the percentage on digital money equal to a cashless society is very meager. We all know that there is only a few establishments that are accepting bitcoin comparing to that establishment and companies that are accepting bitcoin as payment. Also, the acceptance of bitcoin is still meager even it is accessible and expensive. Maybe in the future, digital money is equal to cashless society if bitcoin and another cryptocurrency become legal and the acceptance grow.

It is possible to happen, but we need more security for our own money. We hear a lot of news regarding in hacking. We know that the main important reason why bitcoin is not yet popular because, it doesnt have enough security for our own money. We need something for our safety and security of our own virtual money.

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June 25, 2018, 04:58:17 PM
 #699

I think digital money is just as an alternative to payment, fiat will never disappear in society
Of course fiat will never disappear, only version of fiat will be renewed from paper money will become digital currency, this is a natural
thing change happened effect of a change of era dude, you don't need to worry, fiat will continue to survive but cash will disappear
Disappearing is a story that exceeds my imagination because what I think is just a sharp drop in the number of cash users, modernization society, new technology defeats obsolete technology is a reasonable thing, nothing is surprising. But disappearance is impossible when the level of education and culture in countries around the world is different, the distribution of wealth and poverty is different, and if countries do not have a common payment method, cooperation among countries will be unfavorable, so the society still needs the existence of cash to maintain this cooperation

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June 25, 2018, 05:11:25 PM
 #700

What most people don't get is A CASHLESS SOCIETY IS INEVITABLE. It will happen and it would have happened with or without Bitcoin. Governments didn't need blockchain technology in order to "launch their own private coin". The dollar is already an electronic currency, they will just remove the (tiny) amount of physical cash in order to destroy any hopes of financial privacy for individuals.

Bitcoin will go to $1,000,000+++ when cash is removed because Bitcoin will be the ONLY WAY to have financial privacy in a post-cash society.
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