Digital Money = Cashless Society

[Wintersoldier]

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 ??

There are countries that can afford to be cashless, they can use digital money instead of using the usual currency, and totally eliminate the use of usual fiat. That is a complete adoption of the technology that is being offered by the blockchain. But, there are still countries that may need several adjustments to adopt to this major economic breakthrough. Specially on developing countries that have poor internet and still dependent to the usual financial and trading system.

[paparexon0414]

Digital money is now being used in every part of the world. Its very convenient in a sense that you dont need to bring a bag of money just to purchase a very expensive things. Just a swipe or a just scan away, its already paid. Our new era is needed to have a new innovation for the progress and for it to be blend in our current high tech world. Our world is advancing, so do the apps and products. But somehow, there are still people are into basic way of paying because they are used of it. Or maybe, those people are not yet introduce in the new method of paying. We can wait just for a few more years and this world is going to be cashless society.

[Gufeng]

There's good example of that - China is in such a way to go out without cash, just using smartphones with WeChat and AliPay for it

[yanesna3]

A society cannot be called completely cashless society even if it is mostly using digital money. We cannot still deny the fact that we need the paper money to regulate the economy of our country and to identify us that the currency we are using is belongs to that society.

Yes, you cannot place the equal sign between the digital money and cashless society. Fiat will be used even if EVERYONE starts using the cryptocurrency.

[Freddie Aguiluz]

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 can have a digital money but not having a cashless society. Just like now, we have a digital currency but we still use fiat money. We might use digital money as a means of transporting money from one place to another

[7Dyoknga5]

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's quite accepted well here in oir country. A lot of people now use debit or credit cards for transactions but ofcourse fiat money is still needed. You can't take a cab or ride any transportation system while using plastics.

I'm from Philippines by the way.

[lastnumber]

I do not quite agree with that. I do not deny that digital money is a trading trend in the future. However, each currency has different roles, positions and needs. The Cryptocurrency market will dominate and play a key role in the implementation of commercial transactions. But cash still retains its place in the free trade. Cash position has been confirmed by historical value. And surely people will never give up their social life.

[lastnumber]

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's quite accepted well here in oir country. A lot of people now use debit or credit cards for transactions but ofcourse fiat money is still needed. You can't take a cab or ride any transportation system while using plastics.

I'm from Philippines by the way.

I agree with you. Actually, there are a lot of civil transactions being made that require cash. For example, big assets, business types that need to be safe and secure, and so choosing electronic money is a good method. But for day-to-day activities such as taxi fare, cinema tickets, snacks, etc., the use of cash is much more appropriate. So, cash will survive, very long in the future.

[romeo23]

Inflation is the increase in prices of services and commodities. From a different standpoint inflation can be interpreted as decrease in the value of money.
In a cashless society services and commodities are exchanged for other commodities and services(barter system). So any change in the exchange rate of these services can be viewed as increase in value of one commodity or services and decrease in the value of another. So this can be interpreted as inflation with respect to a commodity and deflation with respect to another commodity.Alternatively in a cashless society services and commodities can be exchanged for a common commodity such as gold. In this case gold can be viewed as a currency and any increase in prices relative to gold can be viewed as inflation.

[zeingrind777]

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, digital money like PayPal and internet banking is still used by many people. but for bitcoin cannot be used at all. our government and financial authorities prohibit the use of bitcoins to transact. but for digital assets are allowed. so if you want to shop using bitcoin, we have to exchange first into fiat money

[bachus]

This sounds real for me. It seems logic, that paper money is already a worthless old system, that will be elliminated in few years.

[JennyatKW]

Digital money is the future. The more the country develops, the more non-cash payment is used there. Crypto-money allows you not to depend on the state and they will displace all existing public payment systems

[Angna27]

People are becoming aware of the advantage of cashless society because we all know that bringing huge amount may endanger our life because of the evil intention of people around us and so people specially the rich prefer to do or use cashless,, such as credit card or bitcoin for safety measure and convenience.

[Yatsan]

A society cannot be called completely cashless society even if it is mostly using digital money. We cannot still deny the fact that we need the paper money to regulate the economy of our country and to identify us that the currency we are using is belongs to that society.

A cashless society is something that is very much suitable for the future state of the society. There people will have very fast and reliable yet safely secured to ensure the optimum transacting experience of all users. I believe that the upcoming implementation of bitcoin as a currency will be a good stepping stone towards this vision.

[lzby2000]

This is something that has happened in China. If you go to some of the bigger cities in China now, you can only consume a smart phone with unimpeded consumption. People will pay app to open, scanning the other party's two-dimensional code, can immediately pay for the electronic. I think that many big cities in the world will soon enter the cashless society, and bitcoin may become the driving force of this trend.

[basyang]

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 ??

China is aware in bitcoin rather than other country. Well,the government is favor in using digital money, I think its because of the innovation in the technology they allowed their citizen to give it a try the crypto.

[deppil]

A society cannot be called completely cashless society even if it is mostly using digital money. We cannot still deny the fact that we need the paper money to regulate the economy of our country and to identify us that the currency we are using is belongs to that society.

I agree. The fact that digital money is becoming more and more popular does not mean that ordinary cash will simply disappear. In some situations, we prefer to use cash. I think that these are different types of money, and therefore the digital money will not be able to completely replace the cash.

Yes cashless society is a great idea but this will not be possible in the near future.Every person uses fiat currency for their day to day transactions.Fiat currency can be used anywhere and anytime unlike the digital money which requires internet connection to get operated.It also requires some knowledge.We need fiat currency to regulate the economy of our country.The digital money is also subjected to risks,fraud,scams too.It is also decentralised.

At least for now cashless society has not been able to apply because of the limitations of many things such as resources, knowledge and so forth. you know that not everyone can use digital currency. many people are still comfortable using cash at this time but I think cashless society will definitely happen because of the impact of technological developments. but it takes a long time

[dharnamonitor]

How is digital money in my country? I would say that we are still in the age of fiat money,  although we received our salaries on our cards we still used fiat to buy goods and stuff for our daily living. A cashless society is an inevitable thing especially this time that technology is constantly changing our daily lives.

[dupee419]

Yes you are right there, because if we plan to pursue digital money people will tend to use their digital wallets, more like a blockchain thing since people would grasp onto their e-wallets, one great thing here is that  people will be instantly buying all the things they need, one disadvantage here is that we are prone of getting robbed bt hackers, wishing in the future that security will be tight in order for our safety.

[darsiderin]

A society cannot be called completely cashless society even if it is mostly using digital money. We cannot still deny the fact that we need the paper money to regulate the economy of our country and to identify us that the currency we are using is belongs to that society.

I agree. The fact that digital money is becoming more and more popular does not mean that ordinary cash will simply disappear. In some situations, we prefer to use cash. I think that these are different types of money, and therefore the digital money will not be able to completely replace the cash.

Yes cashless society is a great idea but this will not be possible in the near future.Every person uses fiat currency for their day to day transactions.Fiat currency can be used anywhere and anytime unlike the digital money which requires internet connection to get operated.It also requires some knowledge.We need fiat currency to regulate the economy of our country.The digital money is also subjected to risks,fraud,scams too.It is also decentralised.

You are right, but I think that in 30-50 years in most countries there will be no cash. The role of the wallet will be performed by a smartphone, which will be equipped with the most reliable biometric protection.