Cashless Economy: Is Society ready for transformation?

[TitanGEL]

It doesn't matter how good this sound might have bad influence. On this subject, we have countries far ahead of the rest of the world, but what can be downside of this project or attempt for others. That's what I mean. Those who live in the country where poor connectivity to the internet could stop payments, this is a major issue. Anyone can lose access to cash, it will be on such a large scale in this hacking that if you pay or not, no one will guarantee. So it's really important, probably yes in some cases, it's probably not safe, it's going to be good for everyone, most likely.

Our society is not yet ready to become cashless society, fiat currency have important role in our economy. Cryptocurrencies are good but still there are a lot of problems why adoption is slow. There are users saying fiat money is more convenient because they do not need internet or smartphones in order to transact. Old people do not easily understand also how the cryptocurrency works. It will take more years before we see that our society will become cashless.

[1714611267]

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[1714611267]

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[chip1994]

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!!

hmmm .. this is really hard. India is a populous country but the poor are in the majority. That is why I am very concerned about this policy in their future. The poor also means that they have poor knowledge, so their exposure to modern technology and equipment limits their ability to use services. so I don't think it's a good idea or it can only exist in a few wealthy Indian cities.

[agentx44]

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!!

Having a paperless transaction would definitely change the practices of our traditional ways which will surely make an impact to the old generation. India is a country that is well known for having an advance technology and it is much expected that they would be one of the first country to regulate the use of digital currency all over their territory. For other countries, I think that is so far from happening yet considering the legalization of different country within their regions.

[CarnagexD]

I don't think we'll ever turn to non-cash payment forms. Nonetheless, not in the foreseeable future. The percentage of using non-cash payment forms will increase, but there will be no disappearance of state cash. They will always be in demand, because in reality they are very easy, and are not dependent on any hardware, there can be no technological glitches, we are not dependent on anything, there is no control of the transaction. Sometimes cash is really useful

It's already happening. In most developed countries they tend to choose cashless, digital transactions that are much more convenient than going door-to-door. It's already in action. Society is more than ready to take on a cashless or more precise, a fiat-less world. Now the problem is, I don't think bitcoin or cryptocurrencies are ready just yet to face the public. That's why we're stuck with cashless transactions still primarily based in cash.

[TedMosby]

Same thing happened in my country, Indonesia.
Centralized digital wallet is a thing here.
We have more than 10 digital wallet for cashless payment here right now.
The popular one is gopay, by gojek. It’s became popular because it used to pay service by gojek
Gojek has many service, like ride-hailing, food delivery, courier delivery service, and many more. Basicly they provide what your daily needs.
They also give us discount and cashback. It effectively boost the adoption of their service and digital wallet.

Back again with the question, is society ready for transformation?
I think it depends on the transition. If the society feel they are being forced to do it, they will not ready.
But if you can make the society change their habits to cashless because of the benefits and easiness, they will enjoy it.

[bohr]

Absolutely not, during demonetisation usage of ewallet increased but it has drastically decreased now. Major ewallet such as paytm are providing various offer and services to users but we still have cash dominant society . Reasons behind this is our black economy so we are still not prepared for it. I think govt should or a separate private should start a campaign to attract consumer to digital space then only we can step forward to cashless transformation.

Many governments are being unrealistic about the cashless economy that they are trying to push on their population, there are countries that are very rich and have a very good distribution of their wealth that can in fact move to a cashless economy but in a country like India in which there are so many poor people that do not have access to electricity, do they really expect that people are going to use digital options instead of cash or something physical to exchange their goods? It doesn't really makes a lot of sense.

Even in rich countries, poor and homeless people exit. If we talk about USA and China, both have poverty as well, both have homeless people. Apart from this, there are senior citizens who are not ready to get in complications of doing all online. They will never allow complete transformation to cashless society. The best thing is to give public both options and let them choose what they want to use.

I agree but it is obvious that is not what the government wants, it seems that they want to limit our options because they are afraid that if we are given the option of selecting a digital form of payment or cash we are going to use cash, and in all honesty if you give me the option I prefer to use cash because I do not want everything that I'm doing to be recorded even if I'm not doing anything wrong because I believe that we have a right to some privacy in this world.

[TIDOVEE]

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!!

Those were just political traps to rule the country. Digital transformation becomes more effective when the same happens from the people. What effort the government has taken for the same, nothing. If the government insist on making people educated providing the best and quality education through the governance and then making such digital transformation will be good to the country.

Those government knows what is good and benefitial to the citizen but most of them just make propagander of it just to cajole the people. Of course everyone here knows achieving that is possible with crypto currency. It may only take a long time depending on their present development on digital world.
How long it will take will still depend on the response of the citizen on steady process the whole world can achieve it.

[spike420211]

I believe that we are still far from an economic system in which there will be no cash equivalent, but now we can trust our future systems with unconditional basic income.
Now, it seems to me, the most important thing is to save mankind from the constant struggle for survival, and to set it more difficult and interesting tasks. For example, the fight against diseases such as cancer.

[awik p]

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!!

Those were just political traps to rule the country. Digital transformation becomes more effective when the same happens from the people. What effort the government has taken for the same, nothing. If the government insist on making people educated providing the best and quality education through the governance and then making such digital transformation will be good to the country.

Those government knows what is good and benefitial to the citizen but most of them just make propagander of it just to cajole the people. Of course everyone here knows achieving that is possible with crypto currency. It may only take a long time depending on their present development on digital world.
How long it will take will still depend on the response of the citizen on steady process the whole world can achieve it.

The government certainly wants to secure the country's economy to keep developing. and the response from the community is sometimes ignored to run the rules they make. but with the development of the world and having to follow it, I think the opportunity to legalize bitcoin is opened

[leyton11]

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!!

I think this makes sense for populous countries like India and China.  Although there is a higher proportion of the poor population, I think that blockchain and crypto technology will create more opportunities to get richer for the poor.  because of those densely populated countries, wealth will not be enough to make everyone rich but for the crypto market is immense.  They have more jobs in this market and can make more money.  The cashless integration is a smart decision.

[meliodas]

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!!

I think this makes sense for populous countries like India and China.  Although there is a higher proportion of the poor population, I think that blockchain and crypto technology will create more opportunities to get richer for the poor.  because of those densely populated countries, wealth will not be enough to make everyone rich but for the crypto market is immense.  They have more jobs in this market and can make more money.  The cashless integration is a smart decision.

If the poverty in a country is high then the cashless economy will become useless because people will become clueless of how it works because they do not have the awareness of the new monetary system and they might get confused because of lack of education so it will be hard for them to understand and use it. Cashless economy is good for 1st world countries because the majority of the people there are working and can clearly use new technologies.

[big_zeppelin]

I think this is an example of an excellent state strategy. However, it is also important to understand that where the state is, there is not always freedom (even if we are talking about cryptocurrency). It seems to me ideal -  when the state simply creates conditions for people to which people can act on their own and be truly free.

[supercanada1]

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!!

Those were just political traps to rule the country. Digital transformation becomes more effective when the same happens from the people. What effort the government has taken for the same, nothing. If the government insist on making people educated providing the best and quality education through the governance and then making such digital transformation will be good to the country.

Those government knows what is good and benefitial to the citizen but most of them just make propagander of it just to cajole the people. Of course everyone here knows achieving that is possible with crypto currency. It may only take a long time depending on their present development on digital world.
How long it will take will still depend on the response of the citizen on steady process the whole world can achieve it.

Yes it is dependent on the people response. The more people get to know about this digital technology, its usage will increase, the more it get used its price will be higher and similarly it will benefit its users. The whole process depends upon the acceptance and usage by the people. By looking at the present situation it needs more time for the development.

[Captain Corporate]

 I feel like we are not exactly ready for now. Sure we are technologically ready, if we could do an overhaul of changes in the world we live in, technology exists enough to make the world a cashless society, not just in crypto sense but basically credit cards and debit cards, we are already living basically digitally when paying for stuff however there is still plenty of places that uses cash and thats why we can't become %100 cashless. However over time the world will go more and more digital and adoption for cashless stuff will become more and more and we will live in a cashless soceity for sure, its inevitable for something like that to happen, no way on earth we won't be cashless in few decades.

[wheelz1200]

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!!

Easily.  The new working generation now has grown up with computers their whole lives.  As more and more people in the "pre computer" era retire the more we are going to be cashless.  There are already countless cashless versions out there....with crypto being the best solution  

[nydiacaskey01]

Going cashless is a good idea because it cares about the environment, no more paper and coins but theres a downside of going cashless and turn to cashless is electricity. As long as there a city that is having a hard time producing electricity this will remain a dream. Producing electricity is getting more expensive nowadays thats why power producers are turning to renewable energy however, you are hurting the environment with that.

[outatime1]

Going cashless is a good idea because it cares about the environment, no more paper and coins but theres a downside of going cashless and turn to cashless is electricity. As long as there a city that is having a hard time producing electricity this will remain a dream. Producing electricity is getting more expensive nowadays thats why power producers are turning to renewable energy however, you are hurting the environment with that.

True, there a lot of resources used to make paper money and coins.  Also there would be a labor savings with going digital at least physical labor would be reduced.

[keeee]

Going cashless is a good idea because it cares about the environment, no more paper and coins but theres a downside of going cashless and turn to cashless is electricity. As long as there a city that is having a hard time producing electricity this will remain a dream. Producing electricity is getting more expensive nowadays thats why power producers are turning to renewable energy however, you are hurting the environment with that.

True, there a lot of resources used to make paper money and coins.  Also there would be a labor savings with going digital at least physical labor would be reduced.

Actually everything has a good and bad side just like the cashless society.  Yes it is good for us cryptocurrency users because it can make our crypto more useful. On the other side lets think about people who dont know how to use internet or even those places who dont have electricity how can they access it.

[bohr]

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!!

I think this makes sense for populous countries like India and China.  Although there is a higher proportion of the poor population, I think that blockchain and crypto technology will create more opportunities to get richer for the poor.  because of those densely populated countries, wealth will not be enough to make everyone rich but for the crypto market is immense.  They have more jobs in this market and can make more money.  The cashless integration is a smart decision.

I think the opposite, this doesn't make sense for countries like India and China, in order to go cashless then you need to go digital and you need that every single person in the country has access to a computer or to a smart phone and you also need that each one of them has access to electricity and to the Internet and we know that is not the case in those two countries, so what do they expect that the people that do not have access to the technology or to those services will do?

[senin]

I think this is an example of an excellent state strategy. However, it is also important to understand that where the state is, there is not always freedom (even if we are talking about cryptocurrency). It seems to me ideal -  when the state simply creates conditions for people to which people can act on their own and be truly free.

You correctly noticed the essence of the issue and its price. If we move to a cashless society, this will simultaneously mean total state control over the finances of citizens. Cash gives us complete freedom in their use. Cryptocurrency is controlled in part through exchanges and exchangers. A cashless society will be fully controlled by the authorities. Why do people want to hang this financial collar?