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Author Topic: Digital Money = Cashless Society  (Read 4007 times)
Just John
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March 29, 2018, 08:05:02 PM
 #121

Well if all the countries accept bitcoin then we are all headed into a cashless society where everything will be done online and you wouldn't need to carry wads of cash around with you.

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March 29, 2018, 08:12:19 PM
 #122

In my country is not much in circulation but in the country where i work right now everything is cashless. Almost all. From supermarket, retail stores, gasoline stations, malls, restaurants. Except in wet market, though some accepts cards but still mostly use cash. But online shopping here is very much in use by people,
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March 29, 2018, 08:12:47 PM
 #123

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.
The worst thing about different cultures and people is that they term new inventions as forbidden on them and the notables of that community ensure that no one from that area uses that invention for the betterment. Here comes the best part of the crypto currency that it hides you from your wallet and no one can come to know about your wallet and portfolio. In my opinion, after some time all of this will be over and people are going to use the crypto currency like the normal currency they have in their wallets.
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March 29, 2018, 08:55:56 PM
 #124

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 ??

In my country, cashless society is still not fully operational. Paper money is still the easiest and most used way of transacting business. In buying online stores or shops, there are still choices like "cash on delivery". I dont know why it is diffiixult for us to move to cashless, maybe because of fraud and scams.

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March 29, 2018, 09:17:13 PM
 #125

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 ??

In my country, cashless society is still not fully operational. Paper money is still the easiest and most used way of transacting business. In buying online stores or shops, there are still choices like "cash on delivery". I dont know why it is diffiixult for us to move to cashless, maybe because of fraud and scams.

   My country is in the process too, I do not expect to be fully
operational before 2025, or later. Our governments are slow, but
cashless society is unavoidable, that will happen.
   Digital money and crypto-currency are two different things. Transition
from cash to digital money started long ago. Transition from digital money
to crypto-currencies just recently. Crypto-currencies are more reliable than
digital, it is the future and when all transitions end we will have only crypto-
currencies. That can happen in 10, 20, 50 years but it will happen, there
is no chance to be otherwise.

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March 29, 2018, 09:40:39 PM
 #126

I would correct you a little, digital money is not just money earned on internet, better to say it is money that is circulating on the net.
Cashless society is profitable form of the economy for both sides of the process, the central bank (or banking system) and human. Banks do not have costs for cash printing and people got bonuses and discaunts for using debet/credit cards.
Now to the main question of the thread. Digital currencies is nohow in my country. The government is just looking and waiting what the EU will take about digital currencies regulation and after, I guess, they simply follow the same rules.
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March 29, 2018, 09:41:21 PM
 #127

Digital money is the future is safer than traditional cash it ks more easier to you , though no one is going to eliminate traditional cash completely as that might take 3 centuries but a majority of them are going to divert towards digital money

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March 29, 2018, 11:01:38 PM
 #128

I once wanted to pay with paper money in a barber shop, and they just couldn't provide me the change because almost no customer uses cash to pay, and thus they had not much in their cash desk. I was kinda shocked, because usually barbers, bazaars, etc, are those who work with cash the most, but even that is declining. If I think back, I don't recall having even touched cash money this year. I just pull out my bank card, have it touch the NFC panel, and transaction is made. No fees are involved, I enjoy buyers protection, insurance on various products, etc. It's an ultimate form of convenience that people love, and I got to admit, it's difficult for Bitcoin to even disturb this process....
Bitcoin is probably not going to disturb that process, but the good thing is that it doesn't have to the whole economy is going to take care of that when people realize the lie they had been sold and how fiat is such a terrible idea, but I agree that in theory the system cannot be beaten its very convenient to use and it offers great protection in case of fraud, but all of that is going to be gone when the economy as a whole crashes.



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March 29, 2018, 11:06:41 PM
Last edit: April 24, 2018, 09:49:18 PM by Hazaki
 #129

The only populations that fear cashless societies are the few countries that are heavily invested in the cryptocurrencies market especially in asia such as japan and china .. All the others are safe from such things since most of the people aren't really up to date with what's happening and still consider cryptos as a scam .
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March 29, 2018, 11:09:51 PM
 #130

Digital currency in my country is still prohibited to be used for shopping anytime, because it seems my country's government is afraid of inflation if bitcoin dominates the market while the currency of my country even does not apply, with the government will be difficult to control the market

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March 29, 2018, 11:24:58 PM
 #131

This is the way of the future transactions. It is really easy and you end up not getting to touch any cash just like you exemplified. This is part of the idea conceived by the Cryptocurrency and easy payments for goods and services rendered. It is time for global acceptance and adaptation of the blockchain concepts.
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March 29, 2018, 11:32:12 PM
 #132

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 ??

The future would be a cashless society, but as long as there are people who oppose for it then it would still he debatable. Volatility is the aspects that affect the implementation of a cashless society in some of the countries.

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March 30, 2018, 12:44:33 AM
 #133

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.
The worst thing about different cultures and people is that they term new inventions as forbidden on them and the notables of that community ensure that no one from that area uses that invention for the betterment. Here comes the best part of the crypto currency that it hides you from your wallet and no one can come to know about your wallet and portfolio. In my opinion, after some time all of this will be over and people are going to use the crypto currency like the normal currency they have in their wallets.
Just like in my country. in some developing and poor countries most people still rely on cash because technology has not been so widely used. yeah so using digital money is still too taboo. to implement a cashless society I think it will take a long time because the human resources of each country itself some are still not ready yet.
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March 30, 2018, 02:44:54 AM
 #134

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'.

Now there are some 4,000,000,000 internet users worldwide.
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March 30, 2018, 06:22:24 AM
 #135

In my state it is almost identical to china but their are still many offline stores in that collected cash from their customers. Is it that many people who stops or outs from using credit cards very little according to all it makes most people spend a lot on you not think the world is able to adapt or become a cashless society .
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March 30, 2018, 07:01:09 AM
 #136

I think cashless society is vulnerable in many ways. You don't have anything to trade if you ever go outside of the internet range. If you've ever travelled you know how easy it is to get into a blind spot where your phone doesn't work. And in such spot your internet won't work too. They won't have card terminals and you won't be able to buy fuel for your machine or a bottle of water. It's too early to try to live in a cashless society.


I think maybe in the future cashless society as of now is not the proper time but with the new technology wich bitcoin can play a major role in digital transactions hope we can be a cashless society.
In the future, if there comes a time when we manage to have only digital currency all over the world and that all the countries and their governments have declared them as legal currency, then there are likely chances to experience a cashless society and that there will be hardly any person who will then be even interested in keeping paper money with himself as he will be much more interested in crypto currency then.
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March 30, 2018, 07:55:02 AM
 #137

I totally agree with digital money concept because now a days technology has been changing in every month and world become faster now a days. In faster world blockchain comes for providing convenient way to transaction.

cashless society is not an easy talk country like India, but govt. Is doing all effort for going cashless. Recently year NPCL ( national payment corporation of india) launched UPI (unified payment interface) for ewallets like paytm etc. And this is very successful step they have takens because last month total transactions had taken place near about 140millions.
It shows that digital currency is not away.

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March 31, 2018, 12:06:11 PM
 #138

In cashless society, there will be no armed robbery at stores/shops since all the money gets deposited in store owner's bank account when customers make the payment using debit or credit card. There will be no cash at the stores/shops.

So store owners will benefit more by not having to face guns when they encourage card payments and by supporting cashless society.
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March 31, 2018, 12:22:52 PM
 #139

uhh kinda excited about this topic on cashless society, especially that term on china. once view videos about that cashless system in china, kinda amazed by their system of cashless. so quick and simple to use! i hope in my country, there will be open minded people who lead us and create such a system or they simply accept cryptocurrencies in our country.
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March 31, 2018, 06:19:21 PM
 #140

Digital currency in my country is still prohibited to be used for shopping anytime, because it seems my country's government is afraid of inflation if bitcoin dominates the market while the currency of my country even does not apply, with the government will be difficult to control the market
It is my opinion that if bitcoin keeps getting bigger we are going to see more and more of that, governments trying to do their best to forbid bitcoin and avoid people to use it but if they are unable to offer a better product, in this case a currency, then people are going to use the superior currency, that is unavoidable, so at the end it doesn't matter what the government do if they cannot manage their economies correctly bitcoin will overcome their fiat.



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