Digital Money = Cashless Society

[Btcschool]

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.

The safety of an asset whether physical or digital is in the hands of its owner. If digital coins can be robbed, I think paper money can also be stolen and it is actually more vulnerable to this threat. Moreover, a person must show care and learn safety measures in order to protect his asset. In cyber world, the weakest point is human. People are a way too careless about their credentials.

[carlisle1]

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.

Nah digital money wont eliminates cash or fiats even if the cryptocurrency dominates the whole world.

Fiats and crypto will soon be merging but not in the sense of will combined,what i mean is even if crypto will be uses for every transactions of service we might have,but without electricity Cash will take over,isnt it the reality?

[mifanmuzny]

A cashless society describes an economic state whereby financial transactions are not conducted with money in the form of physical banknotes or coins, but rather through the transfer of digital information (usually an electronic representation of money) between the transacting parties. This is the future my frined. And its inevitable

[First77]

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.

Visa and Mastercard are the only 2 universal business entities that can create its own money system should there is a "single currency" worldwide.

[Kambal2000]

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.

Nah digital money wont eliminates cash or fiats even if the cryptocurrency dominates the whole world.

Fiats and crypto will soon be merging but not in the sense of will combined,what i mean is even if crypto will be uses for every transactions of service we might have,but without electricity Cash will take over,isnt it the reality?

There is a possibility actually if we would just see the whole world in favor of cryptocurrency, but right now since some of them are not in favor it is hard to tell our conclusion at this early stage, let us just enjoy converting and making money in crypto buy investing and holding it.

[Kingjagat]

Digital crypto currency is inherently non-cash money. Non-cash regular money and crypto currency will gradually displace cash. However, this technique is very long. Undoubtedly, in the very far away future we will come to a absolutely cashless society. However, with our existence with you this is not likely to happen. I assume cashless society is vulnerable in many ways. You do not have something to alternate if you ever go outside of the web range. If you've got ever travelled you understand how easy it is to get into a blind spot where your cellphone would not work. And in such spot your web won't work too. They won't have card terminals and you may not be able to buy fuel for your machine or a bottle of water. It's too early to strive to stay in a cashless society.

I think payment we now is without money but all of value based on the currency Fiat so technically we don't live in the public without cash for currency Fiat we still there with mode other payment. even before bitcoin any, we live in the semi-cash from credit cards, debit card, and online payment other such as PayPal. I can say "semi" because it is still using currency Fiat equivalent like when you buy shoes for 100 $ you will pay 100 $ + transaction costs to purchase, bitcoin also the same, you pay the number of bitcoin same 100 $.

[bitadviser]

cash is useless since it is not related to the gold as it should be, we all know that there is more printed money than gold exists already, so why not?

[chainedblocks]

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

In my country the use of credit and debit cards just started in big shopping malls and hotels. You cannot use your debit and credit cards in all places. We still need cash money in our pockets, because in our local markets there is no facility of using cards. It will take some time but I am sure in the future all people will use credit and debit cards for daily needs.

[kive2k]

It has long been time to go to this, on the street is already the 21st century, the era of digital technology, fiat money has long been time to replace the non-cash

[First77]

I think I should get "merits" for this thread. Click on the top right side "+ merits"

[developer101dev]

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 currency is just the same as credit cards however, there are still countries who cannot handle the growth of cryptocurrency like there are more investors of bitcoins more than placing their money on banks and with that cause, the funds of government are slowing down.

[CyberiusDigital]

Digital money is an easy and seamless way to do transactions. Wonder how far the governments will regulate it 

[First77]

Digital money is an easy and seamless way to do transactions. Wonder how far the governments will regulate it 

In cashless society, US Dollar, Euro, UK Pound, Chinese Yuan, Japanese Yen etc.. are digital money/numbers.

[PalindromemordnilaP]

Considering the fact that using digital currency as the main currency for paying goods and services, then that's what already we call as cashless society. But what's disrupting it to make it to reality is the drawback that these digital money has. How can we ever pay our the food that we eat in the restaurant if the establishment went offline before you ever asked for the bill?

[qoivenmera]

Yeah digital money is very popular nowadays but before we come to that cashless society, We need first to have a good internet connection all over the world. Because it is needed to verify first before we can make a transaction. Second is the assurance that there will no be power interruptions. Since all digital currency needs electricity to exist. Internet security also is needed to avoid hackers and scammers. We need to tackle some issues first before we achieve a cashless society. But one thing is for sure we will have both cash and digital currency in our world that will make it still go around.   

[ToyotaFortuner]

yes you are right now some countries have reduced the use of paper money so that digital currency like bitcoin in the future is very important and very useful not only that digital currency like bitcoin this can affect economic conditions in this world.

[kiboloves]

In the next few decades, there will be more people using digital money. In fact, many big cities in China have already realized a cash free society. You only need a smartphone to open your mobile APP and be free to pay, which is very convenient.

[tamarindbleu]

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.

Having Digital money and a cashless society has both disadvantages. When it comes to digital money there are hackers that we still  need to take care of. In a cashless society we will  have a hard time to manage our wealth because we still need digital or technology or a gadget to monitor our money

[Cling18]

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 is already being used in our country. It provides us easier transactions and it is also more convenient for us to use. However, there are still lots of people who don't have enough idea about crypto so it will still take to long to have it as our currency here.

[Stac]

crypto currencies are the digital money and bitcoin is the king in the digital world which makes the transactions all over the world very easy with low transaction charges by a simple click and internet connection with a sender and receiver wallets for the  transaction to take place. Identity theft and criminal activities like pick pocketing can be avoided by the extent of bitcoins and block chain technology. The wider adoption and acceptance of bitcoins and digital money makes travelling easy as there is need to worry of changing currencies to the visiting fiat currency as bitcoins can be used in the country. Digital currencies can help build a better society and good country by stopping corruption and manipulation of banks through the bitcoin and block chain technology as there is clarity, security in each and every bitcoin transactions all over the world.