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Author Topic: Digital Money = Cashless Society  (Read 4004 times)
YourHumbleCorrespondent
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March 28, 2018, 01:58:40 PM
 #101

That day isn't here yet, and it's not coming soon — but it is coming.

The advantages of cash are a) it can be used for micropayments and b) it's anonymous. Those are also the advantages of crypto-assets. At some point in their adoption, it will become less unusual to use these instead of paper money, and then paper money will begin to look like the more sordid option.

At that point, they will be true crypto-currencies. Until then, I'll keep calling them crypto-assets.
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March 28, 2018, 02:26:19 PM
 #102

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 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. Digital money is doing good here in my country as more and more people are now starting to recognize it's importance as a currency and as an investment. I can see our local crypto community is getting bigger and I can also see that the government started to make their own rules for the crypto which means that they accept it.
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March 28, 2018, 02:57:22 PM
 #103

It is indeed true that digital money means cashless society and we are soon to be that kind of society because there is a lot of interest from the people all over the world and when the government get interested to the cryptocurrencies also then it will be the best day for us because we will finally use the cryptocurrencies to pay things and to all of the things we want.
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March 28, 2018, 03:26:45 PM
 #104

It is indeed true that digital money means cashless society and we are soon to be that kind of society because there is a lot of interest from the people all over the world and when the government get interested to the cryptocurrencies also then it will be the best day for us because we will finally use the cryptocurrencies to pay things and to all of the things we want.

Digital means numbers. $10, $100 are all numbers....
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March 29, 2018, 03:22:44 AM
 #105

Digital money is really established it foots on the economic of my country and many financial activities has gone to online. Bitcoin has the best potential to represent cashless society because it is peer to peer and was decentralized. We should have to move our financial transactions to online in other to benefits from technological development.
Anyone who is not online these days is actually lagging far behind. It seems this is something that has become rampant already and even in some countries you least expect, you get to see everything being done digitally. So far, digital age is already taking over and I would not be surprised that a time will come when paper money itself will totally go into extinction. We are already getting there gradually.

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.
It is not just the money earned from the internet. The little transfer we do between ourselves with our mobile app of the banks we use or via ATM, as long as it does not involve cash is all digital. Cashless society is gradually becoming the norm of the day and before we know it, in most of the places where there is a huge development in technology, hardly will you see yourself holding paper money.


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Theo222
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March 29, 2018, 03:52:07 AM
 #106

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 ??
we use bitcoin as a payment method in some stablishment and payment for our bills. we use bitcoin to pay our utilities and buy some goods because bitcoin is not tottaly legal thats why it is only limited.
First77
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March 29, 2018, 07:04:02 AM
 #107

It is not just the money earned from the internet. The little transfer we do between ourselves with our mobile app of the banks we use or via ATM, as long as it does not involve cash is all digital. Cashless society is gradually becoming the norm of the day and before we know it, in most of the places where there is a huge development in technology, hardly will you see yourself holding paper money.

This looks like good thread with important discussion. Why does my forum merit shows #1 (see left)

I should have got atleast 10 merits for this thread. If you like my threads, click on "merit" above the post and give me the merits, 1 or 2 or 10 etc..  Wink
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March 29, 2018, 07:41:50 AM
 #108

Now as the world is moving to a digitized world, where people don't have to carry money all the time and all they have to take is cash cards like debit or credit cards after the inception of crypto currencies it has changed people's mind of carrying cash cards to QR code and crypto wallets. Crypto currency has helped people to travel all over the world with more comfort, as crypto currencies can be changed to each countries fiat currencies with the help of online exchanges and all the transactions can be done easily all over the world within some time by a simple click. Cashless society will make world a better place free from theft and robbery as only the users have control over the finances and no one  else has control over the crypto coins.

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CHENIEN
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March 29, 2018, 08:03:29 AM
 #109

In my country, there is no strong total implementation of using only credit cards instead of money, but there are few people using credit cards in my country which is bank credit card and it can be usable in some establishments only that accepts credit cards as used for transactions payment, and the card holder or card owner only paying their liabilities to the bank distributor of credit cards. Hopefully, with the new technology development today, the digital cryptocurrency could be used as a term of payments in such different big establishments, because in my country the digital cryptocurrency is only used as a instruments to make real money, or as a digital cryptocurrency that convertible into real paper money.
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March 29, 2018, 08:24:35 AM
 #110

Bitcoin is a good option as payment method while my country not yet supporting this. I don't need to talk about other forms of payment you mentioned because every country already accepting them. If big consumer companies start receiving payments in cryptocurrency, then this may happen very soon. Some local newspaper featured the issue several times and I saw many CEO's are willing to think bitcoin positively.

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March 29, 2018, 08:32:00 AM
 #111

If big consumer companies start receiving payments in cryptocurrency, then this may happen very soon. Some local newspaper featured the issue several times and I saw many CEO's are willing to think bitcoin positively.

Big companies will receive payments in gold and silver instead of cryptocurrency. Central Banks buy GOLD
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March 29, 2018, 09:21:16 AM
 #112

Living in an underdevelop country where cryptos are not much popular as like in developed countries i have seen a major change from last year. Crypto users are growing day by day and all they want is a complete cashless society.
Along with the debit/credit cards we have seen some shops and retailers accepting bitcoin and also some bitcoin ATMs across the country which shows increasing popularity of cryptos.
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March 29, 2018, 10:23:11 AM
 #113

Hi,

For the moment, the cashless society you describe is impossible. Just because we don't have the technical tools, or at least they are not spread enough to be used for daily needs.

Though, I guess that indeed, at some point, we may be able to completely stop using cash. This would actually be a great economy: no more paper or metal  wasted for transactions.

Yet, for now, digital is only online! Wink

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March 29, 2018, 10:33:51 AM
 #114

For the moment, the cashless society you describe is impossible. Just because we don't have the technical tools, or at least they are not spread enough to be used for daily needs.

Alibaba got $25,000,000,000 sales in one day (On China's biggest online shopping day). China with 1.3 billion people looks like a cashless society
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March 29, 2018, 10:41:06 AM
 #115

I’ve also heard even beggars in china use digital money, I mean they have a QR code laminated and if tourist or people wants to give them money they just use that to scan the code. In my country digital money or currency is still taboo to some so its not that useful yet but hopefully in time.

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March 29, 2018, 11:06:38 AM
 #116

Bitcoin and other crypto currency are the digital electronic cash Cool. In today's time all most everything are found in Internet. By the help of Internet anyone can buy anything from anywhere. And bitcoin like other digital  crypto currency help  in this thing. Many government encourage
 their people to use electronic money instead of paper money. Because using of digital money is safe, secure and easy to use. And in this Morden world many online merchants and shopping website start accepting digital currency. And this above thing support digital currency to make cashless society
  Wink

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March 29, 2018, 12:01:03 PM
 #117

In my opinion, it is possible that a cashless society would be our next generation. since it has a lot of benefits even more when blockchain is introduced into its platform. It is possible that the safest and secured platform that will be implemented in the near future way of payment is our way here. where we may use single token such as bitcoin(which is the most known token and popular). banks and government would be helped by this platform, if ever, since, using blockchain helps track the funds going in and out to a individual or a group. if this happen, illegal process or under the table work would be avoided, I think. Well, the bottomline is that it is safer and more secure than using fiat since it is not tangible and has a good tracking process.

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March 29, 2018, 02:54:24 PM
 #118

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 ??

This is a real problem as for me. Disappearance of cash can provoke problems with personal freedom in many countries of the world. I mean that all money that the person spend can be under control of authorities.

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March 29, 2018, 03:49:53 PM
 #119

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 ??
Yea, the world was change. We live in digital world right now, such as money and payment. It need more regulation to safe, secure, and useful in any transaction. Bitcoin is a sample of decentralized system product. It has no board to control it. It's different with e-money based of debit or credit card. So, it's one of bitckin's weakness to develop and survive among another 'money'.
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March 29, 2018, 07:50:19 PM
 #120

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 ??
we use bitcoin as a payment method in some stablishment and payment for our bills. we use bitcoin to pay our utilities and buy some goods because bitcoin is not tottaly legal thats why it is only limited.
There is no market in Japan which does not accept bitcoin so I want the same system in my country as right now there are a lot of ways to pay for bills and to buy goods with crypto currency but still a few market needs digital development which is quite possible. We can get everything without cash now if you are at home you can easily buy a pizza with fast transaction and fair payment at home, no one will bother you to come school and submit your child fees as you can do this even if you are at work or at home, so according to me the cashless society is much better than only single currency society.
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