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Author Topic: Digital Money = Cashless Society  (Read 4000 times)
HasithaM
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July 09, 2018, 05:20:10 PM
 #801

A general public can't be called totally cashless society regardless of whether it is for the most part utilizing computerized cash. We can't at present deny the way that we require the paper cash to direct the economy of our nation and to distinguish us that the money we are utilizing is has a place with that society. It is extremely typical these days everywhere throughout the world to utilize cashless method of exchanges yet it wouldn't decide the general public to be as cashless.
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First77
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July 10, 2018, 12:10:45 AM
 #802

China will pilot E-ticket in some of its high-speed lines later this year, a trial likely to allow passengers to directly check in by swiping their mobile phones or ID cards, without needing a paper ticket by next year, China Railway Corp. announced recently at a forum in Beijing

https://twitter.com/PDChina
furry04
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July 10, 2018, 02:25:35 AM
 #803

In my country people don`t have knowledge about online payments in the first case and not to mention cryptocurrencies. So having a cashless society would be very hard in my country. But i hope it will happen regardless the challenges.
Phantomberry
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July 10, 2018, 02:44:02 AM
 #804

In the my country it will difficult to adopt because there so many poor that have no particular jobs and many crimes and drugs influences.

ELOCIN
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July 10, 2018, 04:48:00 AM
 #805

That's one of the things envision by Satoshi Nakamoto but the question is, will it ever be realized? As we know, there are countries who are banning cryptos, and for other countries who adapt the technology, it's merely more than half of its population is only in favor of crypto. I think, not until all people are united to make it into reality that this could happen.

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owmivmen
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July 10, 2018, 04:53:14 AM
 #806

I agree with your opinion. in the future I believe crypto will be used to transact like a currency but that distinguishes crypto with the currency is the physical existence of the money. more simple use of digital currency. the transaction process will be easier.
Nyenyepogi
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July 10, 2018, 06:03:35 AM
 #807

Note: See on the right side of each post (top right corner) there is "+Merits"

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.

Just like Bitcoin which does not have a physical presence, money/cash will not have physical presence in "cashless society/countries" where money becomes digital/numbers.

Bitcoin is a part of digital money. How is digital money is your country ??
Cashless society nowadays are so I create an account so you can use the right now, but its not a bubble cause rich and many opportunities for the groceries, and technology. Cause I don't think that you can get the right direction and it will do. I believe that they are respectable with cryptocurrency,
hunterWood
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July 10, 2018, 06:07:01 AM
 #808

Too me cashless society has always meant a barter system. A system where everybody just volunteers on what needs to be done, and trade expertise.
jaysabi
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July 10, 2018, 10:30:35 PM
 #809

I travel quite often and I want to tell you that I have met many European countries that use more non-cash payment than cash. When I paid in cash, the sellers looked at me very surprised. Sometimes they couldn't even give me a change because they didn't have any change cash. They asked, and you don't have a map. On the one hand it is a good market trend, but on the other hand it can be a problem for cash.

I've heard the exact opposite from people who travel in Europe, and that is that the majority of merchants deal primarily in cash and are rather annoyed when another dumb American comes along with their credit card to pay for something because it's slower and more of a hassle than dealing with cash. Part of the investment thesis for companies such as Square and PayPal is that Europe is a prime market for expansion due to the number of transactions that still happen in cash there, as opposed to the US market where the vast majority of transactions occur in credit, debit, or some other form of electronic payment.
EVOS
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July 10, 2018, 10:41:38 PM
 #810

Currently digital money in my country has not been developed, many already know Cryptocurrency in my country but my government has not legalized Cryptocurrency to buy something. only for investment only, Physical money can be used for the sale of goods in my country.
PEDROMAP
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July 10, 2018, 10:52:34 PM
 #811

Wasn t in denmark or sweden that they intended to remove cash from circulation in a near future, digital money is the future, cash makes corruption and tax evasion easier and every governement wants to avoid that, so yes i think that in due time digital money will be used on a daily basis.
Zohina
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July 10, 2018, 11:57:12 PM
 #812

Note: See on the right side of each post (top right corner) there is "+Merits"

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.

Just like Bitcoin which does not have a physical presence, money/cash will not have physical presence in "cashless society/countries" where money becomes digital/numbers.

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


Currency BTC in Indonesia can not be a valid payment tool, because the law in our government has not allowed, but now almost all online payment systems ranging from toll, electricity, school payments, and others, so BTC is very potential to be in confersi to the rupiah, hopefully everything can go right.
katrimans
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July 11, 2018, 06:50:50 AM
 #813

My country is digitalized almost 5 years back and every where it is digitalized but my country is not yet approved or banned Bitcoin or any crypto as of now. I'm just waiting for any news from my country in the media and I will be happy if they announce crypto currency as a part of digital money or cashless society.
The cashless society is one of my favorite research topic and this a concept similar to the barter economy where the paper currency or the cash was simply absent. This case depicts the shift to another level in the economy and this can be the next stage at which the governments will either not print the paper currency or the people might not accept it but this can only be possible if all the people around the world use the technology which I do not think is possible until the next five decades.
Dbigfoot102
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July 11, 2018, 07:03:50 AM
 #814

My Country isn't going to be cashless as of now. It is quite hard to realize this since it will take a lot of changes to the economy and to the people around. If you want to be cashless then the stores as well should change which should offer online payment services like bitcoin. For now I also do not believe that China is really cashless. There are still areas which I think that stores did not have online support for payments. But I believe maybe in the future this will happen.
aliichaudhary
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July 11, 2018, 09:58:49 AM
 #815

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
First77
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July 11, 2018, 04:57:36 PM
 #816

The cashless society is one of my favorite research topic and this a concept similar to the barter economy where the paper currency or the cash was simply absent. This case depicts the shift to another level in the economy and this can be the next stage at which the governments will either not print the paper currency or the people might not accept it but this can only be possible if all the people around the world use the technology which I do not think is possible until the next five decades.

In cashless society there is same amount of money (no change) but payments are done by debit cards and credit cards (digital payments). No paper currency and coins are used in the economy.
V1saya
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July 11, 2018, 05:03:26 PM
 #817

We are really heading into a cashless society although of course paper money will still be accepted especially in rural areas. The governments cannot stop this growing trend as online is becoming very vital in peoples lives.
cryptojaani
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July 11, 2018, 06:12:23 PM
 #818

The cashless society is one of my favorite research topic and this a concept similar to the barter economy where the paper currency or the cash was simply absent. This case depicts the shift to another level in the economy and this can be the next stage at which the governments will either not print the paper currency or the people might not accept it but this can only be possible if all the people around the world use the technology which I do not think is possible until the next five decades.

In cashless society there is same amount of money (no change) but payments are done by debit cards and credit cards (digital payments). No paper currency and coins are used in the economy.

Bitcoin may be broadly considered part of digital money. However, it is a world different from the digital money that you mentioned in that they are not cryptocurrencies. When you mentioned debit cards, paypal, alipay, bankwire transfers, online payments, etc, you were basically referring to fiat money. Fiat money developed into a cashless form of money with these methods but then they are still fiat money and are still very well under the sanction of the banks.
peacefulpeace
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July 11, 2018, 10:28:17 PM
 #819

i just received a package few hours ago from an online shop that do door to door delivery, and guess what i paid the rep with? my naira master card debit card. Cashless society is the new thread and most societies are keying into the cashless idea. Cash doesnt need to be analog but digital now. cashless society will function and thrive even better with bitcoin, because bitcoin is the prominent digital money known for now.
letstalkbitcoin2
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July 11, 2018, 10:36:33 PM
 #820

Digital money definetely eliminates the paper money involved in the system. But would it make the system completely cashless is the main question. Well, it can definetely bring in a "less cash" drive than the cashless one. Offcourse achieving a cashless society is the bigger goal but we need to wait for that for a while. For now, less-cash society is whats being offered with the advent of digital money, and the whole digitization process  alltogether.

Offcourse the cryotocurrency will add to this in a good and substantial way as it is based completely on digital money, created and existant over the cloud. This if regularised in a more advanced and accepting way, will definetely pave ways for cash-less economy and will eliminate problems assiciated with paper money like theft, laundering, corruption, etc.
i just received a package few hours ago from an online shop delivery rep, and guess what i paid the rep with? my debit card. Cashless society is the new thread and most societies are keying into the cashless idea. Cash doesnt need to be analog but digital now. cashless society will function and thrive even better with bitcoin.
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