Cashless Economy: Is Society ready for transformation?

[vintages]

Cashless society is on its way however if the government is a hindering its growth then it would be hard to grow easily. Like conservative India I think it will take a lot of years before they can transform their economy into a crypto unlike blockchain leading countries races to be superior in the new innovation.

A future whereby Bitcoin and fiat fully cooperate and fully supported by the the government and the bank is possible. 
In the future it is highly  possible for Bitcoin to fully circulate and freely been used as a payment system as it was created for,  but that is only what it can be. Bitcoin can never stop fiat usage or create a cashless society. A cashless society is nearly an impossible one.

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[jabrix]

If someday we see compromise in this I believe we will see bitcoin or any other crypto used in everyday trade. For the moment we have many obstacles on this and it will take lot of time for both sides to find equal language on this topic cuz it to sensitive. Many benefits will come out but for the moment this is all that it gets.

For now the community as a whole is not ready to use digital money, where adequate infrastructure is needed such as a strong and stable internet network, then a computer or an Android cellphone. In addition, the level of education is sufficient to be able to use the device.
But to transact naturally can, where people who have the ability to start switching to digital money and slowly use education for people who have low education levels are run. It takes time, but the digital age is inevitable, including the method of payment.

[imstillthebest]

For now the community as a whole is not ready to use digital money,

why not ?  we are already in the future and this is already considered as a digital age due outbreak of new technologies   .  with that said i think people are already to upgrade into a cashless society where we will only use cryptos as a replacement for fiats  because cryptos are fast and easy especially when use online  . the best thing about crypto is that it is anonymous and not tied up to banks  or governments wihch means we have a freedom  .

[fiulpro]

Well I would like to bring light to the fact that we cannot say for sure.
Cashless society is a term for People who actually have access to some basic needs and necessities, when you go out tin the world you will see that some people are still striving for basic food and water , they don't even have access to computer and internet so we cannot say that the world is ready .
We can for sure say that some of us are ready and trust me it's only 30% or even less than that.
Out of the fortunate people we need to minus the ones that are above 50 who have no idea how a smart phone works ( most) and the young ones who are still learning.
Thus till the time the internet and education is not free , we cannot actually say that everyone is ready for this transformation so soon.

[tadpole_bitfrog]

 I think the country of India is quite poor and they are not suitable to implement this project. This project is only suitable for rich and advanced countries like Singapore, Dubai, USA, China, ...
there they will have the best experience and many people will enjoy and spread the world faster. Do you think so?

[Polar91]

I don't think so. Not everyone are capable to adopt cashless economy since most of them know nothing how it works. Also, it's somehow not convenient for everyone due to the systems we have right now.

[gentlemand]

I don't think so. Not everyone are capable to adopt cashless economy since most of them know nothing how it works. Also, it's somehow not convenient for everyone due to the systems we have right now.

That's their problem.

It will reach a point where your cash will be refused wherever you go. The more cashless things become the more expensive it is per customer to deal with cash. Once it reaches a certain ratio they'll no longer bother.

Why would you want to take a trip to the bank and store and count all that cash for 5-10 customers per day? It's easier to tell them to go away.

https://www.theguardian.com/money/2019/mar/09/sweden-how-cash-became-more-trouble-than-its-worth

[Bitcotalk]

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 do not agree with you completely on this. It won’t be so easy to going cashless because there will always be challenges with this method.

What happens to poor network, what will now happen to a case where there is an accident scene and there’s need for urgent need to make payment and then network is down and how about the fear of hackers. I am personally not in support of cashless economy, maybe not now

[crwth]

Maybe people would start adapting it if it's mandatory. Oh sure there would be a lot of outrage that would state "Don't fall into the scam, there are no such thing" or haters that just bash the idea of it like "You are Stupid when you start transacting digital money" or something stupid like that lol. I don't think everyone is up for it, but if it benefits society in the long run, then you would undoubtedly convert the people soon enough. It won't be long until everyone is forced.

As long as you know that it's going to improve society, so why not right? Economics is crazy.
 

Something I searched for here. It's somewhat similar and could help you understand more of it.

The Pros and Cons of Moving to a Cashless Society

[fauzan Ichsan]

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 do not agree with you completely on this. It won’t be so easy to going cashless because there will always be challenges with this method.

What happens to poor network, what will now happen to a case where there is an accident scene and there’s need for urgent need to make payment and then network is down and how about the fear of hackers. I am personally not in support of cashless economy, maybe not now

at least the presence of crypto currencies provides a choice, indeed it is still difficult to imagine if the internet channel dies for example, of course the economy will stop, especially now there are still many regions that do not have good internet

[playboy654]

Already people in all over the world will use the cashless method for transaction and payments it can be an important development to avoid money in the future India virtual currency and using the morning we'll be more safer than using in normal way I think it will be happen in very quick time.

[futile-resistance]

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!!

It could be possible since India is adaptive to new technology. I think they want to try something new to their monetary system but it would not be easy due to something once ways of payments in the country. Right now, it's better to let their government do their work on how to make it a reality.

It is very possible. They might have few challenges in the beginning but they will definitely adapt. Going cashless is a process, don’t think it’s something to wake up to one morning and like you mentioned that India is adaptive to new technology. The government definitely has a lot of work to do and has a lot much roles to play in bringing this idea to becoming a reality.

So many countries both developed, developing and the underdeveloped are already considering going cashless, it might look like this might never become a reality but who knows?

[Nanagyasi]

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.

[Xising]

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 would say yes, but for now, partially. I think the market has had its fair share of changes becoming more and more technologically inclined day to day. I think that as more and more advanced improvements are introduced in the market, everything will follow suit making things more digital, since being digital comes hand in hand with being convenient. The thing about digitizing everything is that everything becomes easier and faster. Also, it can give business transactions a protection that could keeps its safety against physical threats that could happen when you have a lot of cash at hand. However, that happening could also bring about new threats like hacking.

[richminded]

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.

There are some society who still can’t afford to adopt a cashless society because of lack of knowledge and they are really poor at all where they neef the food more than the money. Cashless society will be grow, but still fiat money will be there for those people who don’t want to use money online.

[Bagaji]

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.

[Bonsaiav]

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!!

Cashless has many advantages, namely: fast, safe and free to send money to friends or family locally (one country) and is more effective when used for online transactions. Because cashless technology's "capable" of placing consumers at the main point, so that they can control their money in a way that is easier & safer.

[hen cet]

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.

[joshy23]

Already people in all over the world will use the cashless method for transaction and payments it can be an important development to avoid money in the future India virtual currency and using the morning we'll be more safer than using in normal way I think it will be happen in very quick time.

It will since people already have some glimpse with virtual currency, time will come that the entire world will embrace this way and the government will
adjust for this new digital currency, we knew that blockchain will help to make things easier and with wide knowledge everyone will be using it and make things more quicker, imagine world with innovations will indeed helps.

[St4yInTh3D4rk]

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!!

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.