Cashless Economy: Is Society ready for transformation?

[guoyu78]

Well in my opinion, is not all the society that is ready for the transformation in cashless economy. Although, I must confess that there are society in some part of the world that are ready for the transformation.

But, many countries are already prepared for getting into the world of no cashes still in my country there is no vendor that does not accept online payment. You can pay via transfer for virtually anything purchased and this is a good way to tell that everyone is ready to go into the cashless system. This does not mean that everyone has entirely gone cashless but it only means that majority are preparing for the time and when that eventually comes it will no longer be new, so it’s possible and for the fact Indians and considering that they have a good technology.

[1714174952]

1714174952

[1714174952]

1714174952

[Kebokantahu]

Nothing like that happened in India,it is still the same,poor people earnings less than a dollar in that country so how can you expect it can turn into cashless economy.First they need to concentrate on the employment issues in their country before asking them to use digital money.

readiness about this does not have to be measured as a whole in all regions of the country, there is always a gradual structure of urban society first, and I am sure it has been applied effectively in a modern way. the response was obtained in stages, India is a country that is ready to be associated with digitalization in every city they measure has advanced.

[mirawantirinjana]

india, maybe this country is indeed one of the countries with a large cryptocurrency circulation and even some ICOs are from this country, but I am not sure that this country can use the cryptocurrency as a whole.

[slocker]

india, maybe this country is indeed one of the countries with a large cryptocurrency circulation and even some ICOs are from this country, but I am not sure that this country can use the cryptocurrency as a whole.

This dont mean that they are cashless. There is one of countries that used the most crypto but cashless society is something where you dont use paper money you pay with cards or mobile phones. In general this king of usage is still far from being completely cashless but we are going in the right direction.

[gabmen]

india, maybe this country is indeed one of the countries with a large cryptocurrency circulation and even some ICOs are from this country, but I am not sure that this country can use the cryptocurrency as a whole.

This dont mean that they are cashless. There is one of countries that used the most crypto but cashless society is something where you dont use paper money you pay with cards or mobile phones. In general this king of usage is still far from being completely cashless but we are going in the right direction.

I agree. It's too early to even consider a majority in cashless transactions. Though slowly people are already seeing the benefits of it when it comes to convenience and efficiency, a lot still don't have access to either information or tools to rely mostly on cashless dealings. It may come but not yet.

[darewaller]

Cashless India, the Digital India programme is a flagship programme of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy. “Faceless, Paperless, Cashless” is one of the professed roles of Digital India.
Lets discuss!!

Your topic doesn’t make any sense. Just because you like digital money and methods of payment, doesn’t mean other people are going to like the same, everyone’s opinion/choice is different. There are people who prefers the physical method of payment , and I’m one of them. I hardly go to stores with card or using my mobile to make payments, I just go with cash.

If I recall from several years ago think that Sweden was only country that wanted to use crypto in everyday, if I recall E-crown was name of project,. But cannot remember what happen to this.

I don’t think that ever worked. And by the way, cryptocurrency is not the only digital form of payment. Even with your banks you can make payment online using your mobile or computer and that’s what we all know as internet banking. And there are other forms of payment too just like PayPal and many more. So if you talk about digital payments , you shouldn’t only talk about cryptocurrency, it is no better than these.

[bitzizzix]

Maybe but in my opinion it's not entirely possible, and only a few people can use and only certain people who have been supported by technological tools and mindsets that support those who understand cryptocurrency to be used as buying and selling transactions, because not everyone can use all have the capacity and ability to support it.
so in my opinion it's not possible and the cryptocurrency and fiat will still be there and will be used with different people and different ways.

[bitcon]

india, maybe this country is indeed one of the countries with a large cryptocurrency circulation and even some ICOs are from this country, but I am not sure that this country can use the cryptocurrency as a whole.

This dont mean that they are cashless. There is one of countries that used the most crypto but cashless society is something where you dont use paper money you pay with cards or mobile phones. In general this king of usage is still far from being completely cashless but we are going in the right direction.

I agree. It's too early to even consider a majority in cashless transactions. Though slowly people are already seeing the benefits of it when it comes to convenience and efficiency, a lot still don't have access to either information or tools to rely mostly on cashless dealings. It may come but not yet.

Most people are not ready for it. They are used to deal with fiat (cash, credit and debit cards, etc). They simply cannot realize that virtual money can also be used everywhere, and even bring them much profit.

[akram143]

The people are in the current situation at mostly using the digital platform to make the payment of transaction so the country is always been trying to be Digital in recent times so it could not be very difficult for any country to be changing are converting into digital platform 100% it will be possible in very short period of time.

[MakeMoneyBtc]

I don't think the society is ready to live with cash and that's because a high percentage of population still use cash for their daily transactions and they don't even have a debit card. First of all I think everyone should switch to a credit card and when that becomes the main use method for payments they will discover bitcoin and switch to it for more advantages and financial freedom.

[BennyK]

People are always ready to switch to any trend which offer convenience. Crypto as a form of payment offer convenience and security more than any other form of payment. The problem now is the governments. If the governments legalize crypto, crypto will see an exponential growth its adoption by both individuals and major businesses and companies.

[slocker]

No matter how this sound good this could have bad influence.

We have countries that are far ahead from rest of the world on this topic, but what can be downside of this project or attempt for others. On what I mean is this. Those who live in the country where poor internet connectivity could stop payments, this is actually a major issue. Anyone can lose access to cash, in this hacking will be on so big scale that no one will guarantee if you pay or not.

So is this really necessary, probably yes in some points, is it safe most likely not, will this be good for all, most likely.

[ethereumhunter]

I think in the modern life in many countries, people are ready for transformation but in the other region which still grow, I don't think they are ready because there are many things to build before they are ready to accept the transformation. But soon, after the growing country can solve the main problem in their country, then they will be ready, and they will allow the transformation although it's very difficult to convince the older people to follow to accept the new transformation.

[markdario112616]

Tbh, I think not. The mere fact that not all are aware about the this cashless economy, most likely this will not pursue. A lot of people couldn't adapt that fast especially to those who have no idea on a such system work. In addition, a such economy would take years or decades just for the study of it, and another years just to impliment it. Despite that the technology advancement is in a progressive stage only a few are coping up with it.

[futile-resistance]

There are a lot more to do before thinking about this cashless economy. What has been done to change the illiteracy and even improve the knowledge of the citizens on computing.  There are many who don't know their left from right when it comes to computing and so how can these people cope.

It is not an easy thing to change the mindset of people who are used to cash, because it is very simple and does not need other devices such as computers or Android mobile phones.
But that change must come, because life itself will go hand in hand with the progress of the times, which inevitably have to undergo. As in fiction, maybe one day all use crypto money because mining products or agricultural products are not sufficient to produce cash.

Well, I don’t think it is about changing their minds. This is about them adjusting to the new trend or accepting technology They , might probably be very used to the use of cash but it will only take time and they will be left with no choice than to make use of the computer, mobile apps and all provided devices to make cashless society a reality.

Like for example as we were thought, before the invention of money, there was a means of exchange which was trade by barter but  soon as a better means of exchange was invented,  everyone accepted it and with the fact it made life easier. Just like you mentioned Change is the constant thing

[Finestream]

I think in the modern life in many countries, people are ready for transformation but in the other region which still grow, I don't think they are ready because there are many things to build before they are ready to accept the transformation. But soon, after the growing country can solve the main problem in their country, then they will be ready, and they will allow the transformation although it's very difficult to convince the older people to follow to accept the new transformation.

Yes.Although we can say that we are ready for a cashless society but considering the people in the rural areas,it would be hard for them to drive along with this fast changing technology.Maybe if the government will create educational programs to raise awareness to the people on how cashless economy works,then it would be the time that we can conclude that we are now ready for a cashless economy.

[richardeames]

Cashless India, the Digital India programme is a flagship programme of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy. “Faceless, Paperless, Cashless” is one of the professed roles of Digital India.
Lets discuss!!

yes, the world is towards cashless society and we can see that the use of digital money is increasing day by day in developed country because of the practicality and safety factor. Technology behind cryptocurrency will definitely help to sped up the adoption of digital cash use, increase its safety by cryptography and expand the money function beyond wealth transactions.

Here's the report of credit suisse from 2015 and i think its still relevant to this day : https://www.credit-suisse.com/corporate/en/articles/news-and-expertise/will-we-soon-live-in-a-cashless-society-201507.html.
  

[Ayiranorea]

I think in the modern life in many countries, people are ready for transformation but in the other region which still grow, I don't think they are ready because there are many things to build before they are ready to accept the transformation. But soon, after the growing country can solve the main problem in their country, then they will be ready, and they will allow the transformation although it's very difficult to convince the older people to follow to accept the new transformation.

Yes.Although we can say that we are ready for a cashless society but considering the people in the rural areas,it would be hard for them to drive along with this fast changing technology.Maybe if the government will create educational programs to raise awareness to the people on how cashless economy works,then it would be the time that we can conclude that we are now ready for a cashless economy.

People will get adopted to it, but it takes some time period. We cannot experience a complete transition from the fiat usage to complete cashless access. When smartphones got into the market people weren't much used to it. Now every common men had got the knowledge to use it, in the similar way can expect change little by little. Maybe with the next generation it gets easier as everything has now come got its digital version.

[voztata]

People are always ready to switch to any trend which offer convenience. Crypto as a form of payment offer convenience and security more than any other form of payment. The problem now is the governments. If the governments legalize crypto, crypto will see an exponential growth its adoption by both individuals and major businesses and companies.

The reality is that they will be left with no choice than to work with what is available and here if crypto is the available; it even makes it easier since Bitcoin is convenient and well secured payment method. It is now the job of the government to adopt and implement crypto as a payment method.

I would also like to make it clear that crypto is not the only form of payment needed to make a cashless society. A better digital /technology would be required of all countries to make cashless society a true reality

[neonshium]

If you’re talking about cashless then you mean that everyone would not have to make use of the physical and to make use of money we would all need our laptops, phones etc. I don’t think that would be a good idea and not everyone in the world is ready for that. There are still a lot of people that don’t have interests in technologies like this and there are many of them. So it is not a good idea .

There is one of countries that used the most crypto but cashless society is something where you dont use paper money you pay with cards or mobile phones. In general this king of usage is still far from being completely cashless but we are going in the right direction.

Yes you’re right. Having a high number of people making use of cryptocurrency doesn’t mean that the country is cashless. Cryptocurrency is an asset and you really can’t make use of it buying and selling (hardly being accepted )so I’m very sure that majority of those people are having it as an asset and not really as money that they can use at any time.