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Author Topic: Digital Money = Cashless Society  (Read 4000 times)
jaysabi
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September 08, 2018, 12:21:54 AM
 #1041

It's entirely unlikely that crypto will be the dominant method of payment in a cashless or digital cash society. The traditional digital payment companies are far superior to anything crytpo has come up with so far. Decentralization just isn't a large concern for the vast majority of the population. It's too technical and too slow. Settlement times may be faster, but actual transaction times are thousands of times slower. You have to wait a minimum of 10 minutes and up to 60 minutes for depending on the level of confidence you want in your transaction. On the plus side, the transaction and settlement time is the same, but in traditional digital payments, the transaction times takes a few seconds. And most people trust the centralized payment processors enough for decentralization not to matter, so the faster transaction time wins. The future of digital payments is PayPal, Zelle, Square, Venmo; not crypto.
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Renai0925
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September 08, 2018, 04:45:36 AM
 #1042

The problem that i see with our current money situation is that digital money should be corresponded with physical money, otherwise it will be a debt not necessarily by you but someone should still pay that digital payment with physical one. This makes it harder to track. With bitcoin, everything is in the blockchain and can be tracked effectively.

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Fortress12345
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September 08, 2018, 06:00:23 AM
 #1043

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 ??

Bitcoin is really a digital money but in my country it was not widely used because there are many people who don’t know it. A total cashless society here is impossible since many people still prefer to use cash. And also that digital money is hard to use without an internet so it is better to have cash so that we has an alternative if the internet are down. And also there are part on our country that are not modernized so it means that they can have no idea what a digital money is.

LigwagGanern
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September 08, 2018, 06:53:19 AM
 #1044

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 ??










Bitcoin is part of digital money because you can use it to buy or pay something. Here in my country many people who are educated know bitcoin or digital money, but there are many people who don't know it. Being a cashless society is one of the safe way to keep your money. For bitcoin and other crypto currencies, it is only used as an investment or trading commodity, because crypto currencies cannot be used as a legal payment instrument in my country.






James_H
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September 08, 2018, 07:05:52 AM
 #1045

I think, if when we will get used to digital money, our society will be free from many social dangerous situations such as robbery and looting so that people without cash will bring us peace and security. In our country credit cards and debit cardswidely used and I believe cryptocurrency is now being introduced to many people. .later, in the future many have become digital.
Mamahmuda22
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September 08, 2018, 07:28:37 AM
 #1046

many companies just want a digital money system to stay active connected with fiat, (fiat digital tokens) and this is different from crypto transaction systems, I am not very sure of their intentions but what is clear is that profits cannot be fully controlled when they adopt crypto. Whatever the system, if the society is able to adapt completely, the existence of the physical currency will be completely lost.
putrii
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September 08, 2018, 07:33:19 AM
 #1047

Yes, you are right, the digital currency in the future will become very dominant and you are also true that the digital currency will be the same as implementing a cashless society and maybe it will reduce your social life.
dibagehao
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September 08, 2018, 07:37:56 AM
 #1048

China is not a cashless society. The online payment is only for the younger generation. A lot of aged people do not know how to use it at all. For example, I use cash shopping and non-cash shopping frequency. But there is no doubt that the future society is destined to be a cashless society.
First77
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September 09, 2018, 12:40:44 AM
 #1049

China is not a cashless society. The online payment is only for the younger generation. A lot of aged people do not know how to use it at all. For example, I use cash shopping and non-cash shopping frequency. But there is no doubt that the future society is destined to be a cashless society.

In Cashless society people just need a bank account and debit card or credit card. You pay with the debit/credit card at the shop, stores, the exact amount of money is taken from your bank account by the shop/store owners/staff
jack wira
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September 09, 2018, 12:52:08 AM
 #1050

People really need money to buy goods ... but with the development of digital money the society must learn about it ... Indonesia is not yet familiar with bitcoin let alone digital money

xena2
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September 09, 2018, 04:07:14 AM
 #1051

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 ??
Debit/credit cards are limited in terms of partnership, there are stores that is not in relation in some other banks. A good example of cashless society is your phone or gadget will be your wallet or the most special is your wallet is stored in the internet which you can access anywhere.  In our country (Philippines) we can't use all kinds of crypto for payment( limited type), we have to convert to fiat to make use of it.

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First77
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September 10, 2018, 01:44:33 AM
 #1052

Yes, you are right, the digital currency in the future will become very dominant and you are also true that the digital currency will be the same as implementing a cashless society and maybe it will reduce your social life.

United States of America has the biggest problem of counterfeit currency when USA has the best technology in the world. By now USA should have been cashless society.

Cashless society = no counterfeit currency
tonyvo2017
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September 10, 2018, 02:28:04 AM
 #1053

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 ??
I have another thought. Electronic money can grow and coexist with the cash in this society without forcing any disappearance from one side. It can complement each other very well. Bitcoin can change your thinking about asset management and trading habits by saving time and money.

Vanhoang2000
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September 10, 2018, 02:56:32 AM
 #1054

Digital money is associated with online transactions through the wallet .. but to buy digital currency, the role of cash is more important will be more perfect if the society has just digital money cash
BeGoods
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September 10, 2018, 03:04:17 AM
 #1055

digital money sooner or later will replace paper bills, in the age of information technology, there is a huge number of applications PayPal, samsung pay and many others that are very convenient to use and the phone is always at hand

I think even if they are becoming popular we cannot still replace fiat currencies and its worth and how it can be use everywhere even without electricity, gadgets and internet connections.
Digital currency also comes from fiat currency dude lol, digital currency is another form of fiat. in many countries nowadays digital currency has been widely used, we have often seen people shopping using credit cards or even mobile banking, it is a form of cashless society and that is definitely will happen sooner or later, but for everyone to use it will certainly take a long time
UchihaRukawa
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September 10, 2018, 03:23:45 AM
 #1056

In my opinion, if they are still using money to pay things or services, then they are still using cash, the only thing that matters her is that, the cash that they are using is in another form, which have an equal value that is tangible, so for me, paying digitally, buying digitally or receiving payments digitally, is as good as paying, receiving and buying with the use of cash, although if we think about it, in a much shallow mind set, then you can call it as cashless.

Rustamm
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September 10, 2018, 03:56:56 AM
 #1057

Our world is gradually moving toward a cashless society, but this process in different countries will proceed in different ways and will take a very long time. It depends on the level of incomes of the population, the technical supply of the population to such a transition, and a number of other factors. However, in the near future we are unlikely to completely switch to non-cash forms of payment. Cash will vseravno still exist and will go along with non-cash money and crypto currency.

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ApocalypseNow
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September 10, 2018, 07:33:58 AM
 #1058

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 ??


My people here are also now preferring online transactions because online jobs became popular so more and more people are getting used to it. I will not be shocked if people in my country shift to cryptocurrencies quickly because it is really not that different to the digital money they used on paypal or on their atm.
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September 10, 2018, 07:50:35 AM
 #1059

The world is going to the era of cashless and digital world but this differs in some countries,  some countries are still working on cash which will make cashless to be difficult because they don't have knowledge about what we are talking about as in cashless policy

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