Digital Money = Cashless Society

[Unlitinated]

Everybody can admit that cashless from of transactions and goods/money relationship are really more convinient and easy to use than conventional cash. In developed countries (around 30% of world) cashless money transfer embraces 80% of all money transactions and this indicator is growing every year. Since the globalisation process started in the middle of XX century, cashless money usage is increased dramatically and in next 20 years the will be less than 1% of cash and that only in poor countries. Digital money is the form of cashless transactions, which can perform the functions of traditional money same way as credit cards. The growing application of digital will soon lead to 100% cashless society, but in this society all the transactions of all people will be monitored and controlled and each of us can be shut with air supply if we do something not appropriate to government policy. That will definately be so.

[Sled]

I can see that we are on the early stages of the digital money. We can see a lot of cashless transactions through debit cards, credit cards, online shopping, online paying of bills and services plus the crypto currency world. We are seeing less and less of cash money being used, but then I still think that this era of digital money will just make us used less cash but not entirely eliminate the use of it. I don't think that the banks and the national government will allow that thing to ever happen, not now, not  in the near future.

I definitely agree to that that we are just in the early stage of the digital money or cryptocurrencies and we are just on the stage where the adaption is on going because a lot of people are just getting started to know the cryptocurrencies and they are just getting into the cryptocurrency world because they finally saw the importance and benefits of crypto.

[crazymelons12]

There is not much movement about it yet but there are establishments that accepts online payment using stored digitized money via the exchanges. Yet users by percentage or ratio based on the population we have did not even get to be half since we are just yet starting to adapt the cashless system. While most are poor it will take several years to really be a cashless society.

[First77]

Paying all my bills online. it's easy and great

[v_Harley]

Although digital money can solve many payment problems, I think the society needs legal money anyway. Encrypted money can only help.

[Xenoph0bia]

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 ??

In Philippines, digital money is not yet a trend and still not supported by some of our people especially those people who are categorize as Baby Boomers up to Xennials. Those kind of people are very traditional and they tend to look at new innovations and developments as a negative way. But when it comes to Millenials, these are the people who embrace the development of technologies and what's within it. Still, in the philippines, we still use physical money and doing deposits and withdrawals in the bank.

Yes this can occur later in the future but not now.People all over the world prefer fiat currency.Fiat currency is accepted internationally and all the transactions are done through the fiat currency only.Fiat currency has the back of the central banks and governments and that is why it is difficult for digital currency to overpower or give competition to the normal currency.But people have started using digital currency too as dogitization is going on.But digital currency cannot be used everywhere as it requires an internet connection.

[Kodok Bencot]

Of course this is an irony, when many people enjoy various conveniences in finance then there is always a chashless economic class that becomes burden and hindrance of economic growth.

[papa-tata]

digital money helps me a lot in daily needs. from doing online shopping to phone bill payments. almost all electronic money services can be used for anything. but unlike crypto is still very limited I have to swap with fiat in order to use. electronic money is very useful because the various banks in my country intentionally integrate with various services to make every user can easly use in every service and any place.

[Dread Pirate Roberts]

-snip-

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 ??

Yes you are right. everything is digital. easier . cheap and in reachable wherever. and bitcoin is optional payment for digital payment globally. maybe some people still use credit cards etc. but in the presence of my own crypto prefer optional payment with btc. other easy and do not giving sensitive data like credit card. btc can also be thing of investment.

[danim1130]

Digital money doesn't mean that people or any community that using that will be a cashless society. It will just help them to fasten their transactions if there's any and it will help them to see and adapt the future in another country. They will not been left by other people who knew the technology.

[MiningSensei]

I think that we all would love to live on a cashless society in where we all can pay by using bitcoins or any other kind of crypto, that is all what i have always been looking for

[ShineftChaos]

People get hanged that the numbers on the monitor are assets. But this is not so. Here are two bought shirts - these are things you can physically touch. They are useful for a person. If there is a financial cataclysm - bitcoin may not become, and the shirts will remain.

In my own opinion, there are a lot of people who really likes to have a cashless society, its because of the faster transactions and easier online purchases of goods just like credit cards.

[SkvorNyc777]

I think that it is good that Earth is becoming "cashless", but to have ideal economic system we need crypto here, because with fiat money they can block your card or transfer all your money away with "one click".

[Camorra Dev]

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

Wow... I have not heard about that but it caused me to be so excited that government A-level is always negative towards cryptocurrencies but one of the best countries in the world are positive.

[kasurnya]

I believe paperless currency using on the internet in any form is digital money. Transactions made via credit/debit card or any other means like Bitcoin etc are a digital transaction which completes a trade. I support cashless economy because it is eco-friendly and easy to use.

but here we have constraints with it, namely internet connection.
as we know, the current internet connection is not completely thorough.

[Ochusol]

Everyone wants a cashless society. That is also what the governments of various countries have been trying to promote. I believe this is actually a very great thing for digital currencies such as bitcoin and the others. They fit perfectly well into the cashless society.

[Fujiati]

some countries have started using highly sophisticated digital money, they do not need to carry paper money because they buy something using debit cards they get from the internet. in my country still do not use debit card from the internet because my country has not received crypto currency as a means of payment.

[ryzaadit]

Well digital money at now its really helpfull lets see at Zimbabwe they the worst country with the worst country inflaction money. people at there using some digital money for the transaction. at this problem we learn something, Digital money really helpfull all economy system

[repzaj]

in my opinion, cashless society its good because less hassle to bring and count your money or sometimes if bad happens for example you meet a snatcher at the road.

[peacefulpeace]

in my country, trasactions are gradually creeping into digital the economy is gradually becoming cashless, its a gradual process and my country is moving with the threads, you see situations where all you need to have is your debit master card and a pos terminal or an atm mechine one can purchase and make payment without physically holding cash. Very soon the world will become a global casless society.