Digital Money = Cashless Society

[Popov_popov]

I would very much like to see the world as in films where people have chips and can pay for them.  But probably not in our reality.

[1713996174]

1713996174

[mcabrito]

I would very much like to see the world as in films where people have chips and can pay for them.  But probably not in our reality.

Well maybe it can happen in the future, we may never know what's gonna happen that time. But for the coming years I think this is still impossible to have a cashless society.

[Pan Troglodytes]

We'll likely have a mostly cashless society, but that doesn't mean anything for Bitcoin. Digital cash denominated in US dollars will rule the US economy, as it currently does, and Bitcoin will not meaningfully penetrate into day-to-day commerce or business transactions. Compared to digital cash, Bitcoin is clunky, slow, and needlessly complicated.  Centralization is not nearly the problem Bitcoin proponents want to make it out to be. Everyone hates PayPal, but PayPal works exceedingly well and Bitcoin really can't touch it because most people want a centralized authority they can trust manning transactions in case the other party commits fraud or acts illegally. A trustworthy central authority (the payment middleman, like PayPal, MC, Visa, etc.) is far superior to a decentralized system where payments can't be reversed in cases of fraud.

The centralization of Bitcoin may seem at first like a threat to its existence, but it's probably the only way to effectively accomplish the things that you mention. Bitcoin doesn't really have the ability to be widely used as a currency at this stage like you said, but it has features of anonymity and tax evasion that will continue to attract people to use it. I can't exactly see it being widely used for day to day transactions, however.

Cash will still reign I think because it is what makes things get done. You can get better prices, faster service, more favorable conditions with most vendors if you pay in cash. Digital money is still clumsy as well in my opinion.

It changes, especially in Europe. Sweden currently is almost cashless, when you pay in cash they look at you like you stole it and even beggars on streats have card terminals, and Poland is a leader in terms of contactless payments. Meantime, banks do what they can to promote those new ways of payment and make it harder to use cash (they impose limits on ATM withdrawals, etc.).

So before you know it you may one day wake up in a cashless world. It will not be better and probably it will not be easier either, and VISA will know details of what you had for breakfast and what courses your kids took.

Visa doesn't get details of what you buy, only where you buy it. The inventory of what merchants sell to consumers is not part of the data that is critical to running the payment platform.

There are certain companies that are poised to do very well as cash continues to die. PayPal, Square, Visa, MasterCard especially. All of these facilitate digital payments or deal with digital cash, and as physical cash becomes less and less common, these centralized platforms have outgrown the general market and are poised to continue doing so. Bitcoin isn't really an improvement among any one of them, it's far easier and reassuring using one of these services because  people have faith that if something goes wrong, there's someone there to fix it. If something goes wrong with a crypto transaction, you're out of luck.

I generally agree with you, one comment if I may on the fragment I changed color to red: please observe that as the infrastructure grows, there are points of contact that can undo what went wrong - there are customer services at exchanges and in payment operators. So it is not completely as black and white as you paint it, there just might be someone to help you out even if something went wrong with Bitcoin payment.

[ParkSaezz]

With an universal accessibility. This makes the system more efficient than the traditional system, but the risk associated with it is much high. When years pass people start to accept as they got adopted to card usage from the currency usage.

[hyipplus]

Many authors of topics on the internet long time ago were already thinking about this, that unavoidable that cash system of paper the money would be replaced and evolved into something other.

[phpartisanmaster]

Digital money indeed will lead to cashless society in the future. In our country credit cards and debit cards are used a lot and i believe cryptocurrency is now being introduced to many. Later on, in the future many are into digital already.

Yes cryptocurrency has been already introduced to everyone and there are a lot of countries that are recognizing bitcoins as a very good source of income so maybe in the future, people will prefer digital currency and we are going to live a cashless society.

[First77]

With an universal accessibility. This makes the system more efficient than the traditional system, but the risk associated with it is much high. When years pass people start to accept as they got adopted to card usage from the currency usage.

Mastercard slogan: There are somethings money cannot buy, for everything else there is Mastercard

[airdrophunter]

Such a thing is very hard to imagine in developing countries but it can be very helpful. This will be possible only when the government in those countries is ready for this.

I think developing countries that adapts bitcoin/cryptos will be the number one aiming for this idea because they already know the potential capabilities/powers of bitcoin and cryptocurrencies. But those countries who banned bitcoin/cryptos will surely be out from this topic. But even if cryptos are legal around the world, my only question is can we really use bitcoin all the time even if there is no internet connection?

[NevejElad]

When this cryptocurrency will be in a full blast run in any part of the world especially if it will be legit then this crypto as digital money, can create an easier life which is a cashless society wherein transactions are made digitally.

[doomloop]

I would very much like to see the world as in films where people have chips and can pay for them.  But probably not in our reality.

Well maybe it can happen in the future, we may never know what's gonna happen that time. But for the coming years I think this is still impossible to have a cashless society.

To me it is possible because as I have notice a lot of people are happy to have this cashless system of payment, digital currency is helping people to save money, now street robbing has been reduced and almost finish as no one can robe your bitcoin, it is easy to carry a lot of bitcoin but you cannot carry a lot of money with you, so coming age is going be cashless age and era of digital currency it will be.

[lendahawkins]

Such a thing is very hard to imagine in developing countries but it can be very helpful. This will be possible only when the government in those countries is ready for this.

cashless society become more realy with cryptocurrency coming out, people keep dreaming about this and i do heard this idea since i was a child and yet it still not happening. But i do think we need to takes a lot of time to make it real and i think crypto would be good option to help us to make it real.

[resty]

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 ??

Here in the Philippines cashless money was operated in 19th century like what you said debit card and also paper tseque money, payment transfer through digital method was operated since year 2000. But this is not enough to make the people become comfortable i hope bitcoin is continuously moving around the world and serve to all the people without hassle no third party involve cashless payment for transaction is actually the best for all of us.

[max fray]

It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.

Bitcoin is a part of digital money. How is digital money is your country ??

Bying goods and services via Internet is becomimg even more popular in my country. Unlike yet 10 years ago now you can order and pay for virtually everything using your credit card or any other widespread payment services. Bitcoin and crypro in general is still not massively adopted, but I think it's just a matter of time.
That's actually a worldwide trend and I can't name any more or less developed country that does not encourage digital payments.

[21BTC100ETH]

If the world actually wants to maintain the cashless policy, then they should adopt digital or cryptocurrency.

[First77]

Now Bitcoin is just a digital asset after expedia.com removed bitcoin as payment option.

[laborrdj]

It would happened and conceivable soon yet at the same time it relies upon the nation actualizing and directing advanced cash, for example, bitcoin. In my perspective cash charges still exists in light of the fact that not all knows bitcoin or any computerized monetary standards so I get it simply a question of time teaching them.

[criza]

I think that digital money are on trend right now and many people are getting fan of this popular matter. However, not all people are using it nor aware of it. Thus, digital money will not make the society absolutely cashless. Digital money may be a great idea as it provides convinience, physical safety, more possibilities and opportunities when it come to financial matters. However, I do not see yet digital money as all of the people's choice and mode of financial transaction. Simply because some people would still prefer physical money as few people are still traditional. We may all use digital money for a cashless society, but time will always cpne that we will go back to what we have used to and what we are using now.

[lsafronova095]

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 my country, credit cards are used quite often. When I come to the store with cash, they can't give me change... I get that a lot of times. Bitcoin may soon change all digital money.

[anushkasachith888]

When the world is fully digitalized, digital money will be a need. so I think bitcoin will be a reality in the digital society. so you imagine how much will be one bitcoin by that time? that will be huge.

[Farhan786]

Most people nowadays are more comfortable in using cashless or online payment instead using cash or real money. Some countries that are legal to use bitcoin all using bitcoin such as shopping, transportation, eating, roads etc. Cashless society makes transactions more faster or do not take a lot of time. So we need Cashless Society.