Should we embrace a cashless policy??

[blue_hurricanger]

The problem with going cashless is that not many people will be able to embrace it. in the advanced countries this may not be such a big deal as nearly everyone is already familiar with all sort of technology and buying online in a cashless manner. in the developing countries with high number of uneducated people, this can be a very big issue, it will require teaching almost everyone on how to operate an internet enabled device and own one as well.
Going completely cashless will pose a lot of challenges to many people which i doubt the governments are ready to subject its citizens to. So this is not advisable best thing for now is operate in both ways 

The first impression I got after reading OP is this. EU and USA are not the whole worlds. There is a vast area of land in Asia, and Africa where people don't have an internet connection and are out of the digital landscape we live on. Paper cash is still the only way of the economy there so if mass adoption of cashless policy has to be taken then there should be some measures taken for those people.

On the other hand in many urban areas internet connections is not that strong and secure. A cashless economy means no paper cash. So any disruption in internet connection would cause major damage to the economy.

Inequality is always the thing to be considered despite all the benefits when moving from a cash to a cashless society. From all I know, old people hurt most since some of them also didn't know much about smartphones to use it as e-wallet. Wireless or broadband internet connection like you mentioned also a problem since if we can't access to it, we will be stranded from the grid with no alternative?

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[Pomogator]

The problem with going cashless is that not many people will be able to embrace it. in the advanced countries this may not be such a big deal as nearly everyone is already familiar with all sort of technology and buying online in a cashless manner. in the developing countries with high number of uneducated people, this can be a very big issue, it will require teaching almost everyone on how to operate an internet enabled device and own one as well.
Going completely cashless will pose a lot of challenges to many people which i doubt the governments are ready to subject its citizens to. So this is not advisable best thing for now is operate in both ways 

Now we are talking about the transition to cashless payments in developed countries. In the last 5 years, I have noticed how much the attitude towards cashless payments has changed. 80% of all customers pay by card. I myself prefer paper money, in this regard I am conservative.

[mm2543363580]

Now we are talking about the transition to cashless payments in developed countries. In the last 5 years, I have noticed how much the attitude towards cashless payments has changed. 80% of all customers pay by card. I myself prefer paper money, in this regard I am conservative.

Switching to the cashless policy - - it is easy for the modern world but what about the countries where smart phone is not common. where there is high literacy rate and where there is problem of 3G and 4G, in recent years it is not possible though

[Hypnosis00]

The problem with going cashless is that not many people will be able to embrace it. in the advanced countries this may not be such a big deal as nearly everyone is already familiar with all sort of technology and buying online in a cashless manner. in the developing countries with high number of uneducated people, this can be a very big issue, it will require teaching almost everyone on how to operate an internet enabled device and own one as well.
Going completely cashless will pose a lot of challenges to many people which i doubt the governments are ready to subject its citizens to. So this is not advisable best thing for now is operate in both ways  

Well, the moment of truth is that people will possibly embrace that particular situation but what makes them stop is the capability of their country and of the individuals. Besides, this is not hard to learn and I know everyone can do it but unfortunately, they are in such desperation due to the lack of support from the government and materials to run the system which gives courage as well.

Yet, I won't disclose the chance to be in the adaption as I literally will come but it takes longer, many years to come before it was realized.

[mm2543363580]

The problem with going cashless is that not many people will be able to embrace it. in the advanced countries this may not be such a big deal as nearly everyone is already familiar with all sort of technology and buying online in a cashless manner. in the developing countries with high number of uneducated people, this can be a very big issue, it will require teaching almost everyone on how to operate an internet enabled device and own one as well.
Going completely cashless will pose a lot of challenges to many people which i doubt the governments are ready to subject its citizens to. So this is not advisable best thing for now is operate in both ways  

Well, the moment of truth is that people will possibly embrace that particular situation but what makes them stop is the capability of their country and of the individuals. Besides, this is not hard to learn and I know everyone can do it but unfortunately, they are in such desperation due to the lack of support from the government and materials to run the system which gives courage as well.

Yet, I won't disclose the chance to be in the adaption as I literally will come but it takes longer, many years to come before it was realized.

That is correct and it would be needing translation in the regional and the local languages as well.
Also - it is not possible in the near future because it needs smart phone, internet connection and obviously people who are educated enough to understand the procedure.

[19Nov16]

I think the thing that can make Cryptocurrencies users not afraid of investment is a clear policy, in my opinion without a clear policy will make users always worried and confused, especially the latest cases namely Luna, this can happen and repeat without being able to be controlled.

[helloinox]

I think the thing that can make Cryptocurrencies users not afraid of investment is a clear policy, in my opinion without a clear policy will make users always worried and confused, especially the latest cases namely Luna, this can happen and repeat without being able to be controlled.

So don't invest in stablecoin peg by the vague value of alts, easy. A cashless policy doesn't mean you have to use crypto or stable coin in the crypto network. A digital dollar with the real backing from the US banks is the best thing that could possibly.

[Oasisman]

The problem with going cashless is that not many people will be able to embrace it. in the advanced countries this may not be such a big deal as nearly everyone is already familiar with all sort of technology and buying online in a cashless manner. in the developing countries with high number of uneducated people, this can be a very big issue, it will require teaching almost everyone on how to operate an internet enabled device and own one as well.
Going completely cashless will pose a lot of challenges to many people which i doubt the governments are ready to subject its citizens to. So this is not advisable best thing for now is operate in both ways 

Agreed. Even the first world countries there are still a lot of people who aren't tech savvy to understand the complexity of a cashless transactions.
How much more on the 3rd world countries. Both would co-exist and as time passes by cashless transactions might become the most preferred one than paying on cash, but cash won't just disappear, both would still co-exist.

[TimeTeller]

The problem with going cashless is that not many people will be able to embrace it. in the advanced countries this may not be such a big deal as nearly everyone is already familiar with all sort of technology and buying online in a cashless manner. in the developing countries with high number of uneducated people, this can be a very big issue, it will require teaching almost everyone on how to operate an internet enabled device and own one as well.
Going completely cashless will pose a lot of challenges to many people which i doubt the governments are ready to subject its citizens to. So this is not advisable best thing for now is operate in both ways 

Agreed. Even the first world countries there are still a lot of people who aren't tech savvy to understand the complexity of a cashless transactions.
How much more on the 3rd world countries. Both would co-exist and as time passes by cashless transactions might become the most preferred one than paying on cash, but cash won't just disappear, both would still co-exist.

We are already practicing the cashless payment in some points of our daily life.
Like paying an online merchant or other online purchases.
However, it is true, not all people are amenable to this kind of payment method even in first world countries.
I think, cash payment will remain, though digital payments may increase a lot in the coming years.
Let us embrace both methods, anyway, we have daily purchases that do really need physical cash, whether you are in 1st world or 3rd world country.

[tabas]

There's no problem in increasing the number of crypto users/investors or what do you prefer to call us. The problem with what you're thinking is about investors that don't have idea what they're getting up to. That's how many folks have been devastated due to their poor investing decision making. It's not about only crypto if we talk about cashless but there goes the government transactions that can be done through third party that they allow to operate.

cashless which refers to cryptocurrencies is still long to be realized, until now there has been no developed country that can provide examples of the use of cryptocurrencies, many interbank transactions currently occur without cash, and that does not mean having to use cryptocurrencies. I hope that crypto can be accepted by the government because of its basic advantages, so that it provides a real function that is currently only an investment tool

When you say cashless, it's not just all about cryptocurrencies. There goes the other payment methods like Wechat Pay, Alipay and these are just an example of it and originated from China. If in US, there goes the Apple Pay, credit cards and many others.
And about the usage of crypto, there's no need for any country to introduce its usage, we as a community already know and have been doing purchase of things and services with crypto since years ago.

[Kelvinid]

snip~

Agreed. Even the first world countries there are still a lot of people who aren't tech savvy to understand the complexity of a cashless transactions.
How much more on the 3rd world countries. Both would co-exist and as time passes by cashless transactions might become the most preferred one than paying on cash, but cash won't just disappear, both would still co-exist.

We are already practicing the cashless payment in some points of our daily life.
Like paying an online merchant or other online purchases.
However, it is true, not all people are amenable to this kind of payment method even in first world countries.
I think, cash payment will remain, though digital payments may increase a lot in the coming years.
Let us embrace both methods, anyway, we have daily purchases that do really need physical cash, whether you are in 1st world or 3rd world country.

Indeed, some people are doing this for many years already but it is never enough to enlighten others to adapt to the system knowing that they don't have the capacity to do it. In any form of cashless payment, nothing has been largely compared to fiat money which means that the majority are still reliant to paper money for their convenience and are most likely don't have a reason to stop using it. The word convenience makes people to choose what they want and a particular method of payment.

[Fatunad]

snip~

Agreed. Even the first world countries there are still a lot of people who aren't tech savvy to understand the complexity of a cashless transactions.
How much more on the 3rd world countries. Both would co-exist and as time passes by cashless transactions might become the most preferred one than paying on cash, but cash won't just disappear, both would still co-exist.

We are already practicing the cashless payment in some points of our daily life.
Like paying an online merchant or other online purchases.
However, it is true, not all people are amenable to this kind of payment method even in first world countries.
I think, cash payment will remain, though digital payments may increase a lot in the coming years.
Let us embrace both methods, anyway, we have daily purchases that do really need physical cash, whether you are in 1st world or 3rd world country.

Indeed, some people are doing this for many years already but it is never enough to enlighten others to adapt to the system knowing that they don't have the capacity to do it. In any form of cashless payment, nothing has been largely compared to fiat money which means that the majority are still reliant to paper money for their convenience and are most likely don't have a reason to stop using it. The word convenience makes people to choose what they want and a particular method of payment.

Cant really be denied or couldnt agree more with that word "comfortable" on which people would normally be sticking on ways or methods on which they do find out that they would really be making out ease of transactions and even online or cashless transactions might sound great but there are key areas which fiat is really superior and does give out ultimate convenience which do most people prefer on.
Lets just accept the reality that it is really hard to believe that cash/fiat would be gone forever and would totally switch up to cashless transactions whether e-fiat or crypto.They would both co-exist
because the differences and applications are really that subjective depending on case to case situation.

[atjiat]

Indeed, some people are doing this for many years already but it is never enough to enlighten others to adapt to the system knowing that they don't have the capacity to do it. In any form of cashless payment, nothing has been largely compared to fiat money which means that the majority are still reliant to paper money for their convenience and are most likely don't have a reason to stop using it. The word convenience makes people to choose what they want and a particular method of payment.

I think the irreversible process of switching to non-cash payments has been going on for a long time. All governments, with the help of the banking system, are very strongly promoting this form of payment, of course, they primarily pursue the goal of controlling the financial condition of their citizens. But it is very difficult to draw the attention of the government to the possibilities of cryptocurrency in non-cash payments. But the main role in this will be played by startups that will introduce blockchain into the banking sector, such as Africunia. Therefore, everything is still ahead.

[tygeade]

Well, the moment of truth is that people will possibly embrace that particular situation but what makes them stop is the capability of their country and of the individuals. Besides, this is not hard to learn and I know everyone can do it but unfortunately, they are in such desperation due to the lack of support from the government and materials to run the system which gives courage as well.

Yet, I won't disclose the chance to be in the adaption as I literally will come but it takes longer, many years to come before it was realized.

That is correct and it would be needing translation in the regional and the local languages as well.
Also - it is not possible in the near future because it needs smart phone, internet connection and obviously people who are educated enough to understand the procedure.

I would say that translation would be easy step, that shouldn't really be a problem because they will handle it and it would be done within a few days, quite easy step. However, the fact that smart phones can't be used by many elderlies is still a problem, and I am not sure that we would be able to neither, like when we reach 80+ would we be able to, even though we grew up with smart phones?

I think there needs to be a back up, because if all else fails, cash is till there and we are doing that anyway. All in all, the only thing you would save in this situation would be trees, because they wouldn't be used to make paper money, aside from that most other things would be the same.

[bakasabo]

Well, the moment of truth is that people will possibly embrace that particular situation but what makes them stop is the capability of their country and of the individuals. Besides, this is not hard to learn and I know everyone can do it but unfortunately, they are in such desperation due to the lack of support from the government and materials to run the system which gives courage as well.

Yet, I won't disclose the chance to be in the adaption as I literally will come but it takes longer, many years to come before it was realized.

That is correct and it would be needing translation in the regional and the local languages as well.
Also - it is not possible in the near future because it needs smart phone, internet connection and obviously people who are educated enough to understand the procedure.

I would say that translation would be easy step, that shouldn't really be a problem because they will handle it and it would be done within a few days, quite easy step. However, the fact that smart phones can't be used by many elderlies is still a problem, and I am not sure that we would be able to neither, like when we reach 80+ would we be able to, even though we grew up with smart phones?

I think there needs to be a back up, because if all else fails, cash is till there and we are doing that anyway. All in all, the only thing you would save in this situation would be trees, because they wouldn't be used to make paper money, aside from that most other things would be the same.

Do you think a lot of trees will be saved if we stop using paper money? Taking into consideration, that new money are not printed every day. And compare it to an amount of useless data printed on regular A4 paper daily.

I have tried many times to stop using cash, but over and over again I have returned to using coins. There are so many businesses around the world that require coins, that makes me think we will never start living cashless. There are so many units that accept coins, that it will cost enormous amounts to convert unit payment system to cards.

[AicecreaME]

Indeed, some people are doing this for many years already but it is never enough to enlighten others to adapt to the system knowing that they don't have the capacity to do it. In any form of cashless payment, nothing has been largely compared to fiat money which means that the majority are still reliant to paper money for their convenience and are most likely don't have a reason to stop using it. The word convenience makes people to choose what they want and a particular method of payment.

I think the irreversible process of switching to non-cash payments has been going on for a long time. All governments, with the help of the banking system, are very strongly promoting this form of payment, of course, they primarily pursue the goal of controlling the financial condition of their citizens. But it is very difficult to draw the attention of the government to the possibilities of cryptocurrency in non-cash payments. But the main role in this will be played by startups that will introduce blockchain into the banking sector, such as Africunia. Therefore, everything is still ahead.

Cashless policy promotion has really been long promoted by the government and other businesses and establishments. It's encouraged to transition in cashless policy because of its convenience and ease of using. The accessibility of digital banking and wallets make it easier for people to make transactions in a snap.

Slowly, it is evident that we are adapting to the dynamic changes which is for the better. Because we also have to keep in par with other countries that offer such. However, the elders and the less privileged ones should be taken into consideration. We can't just hastily transition in cashless payment. Instead we can transition little by little and also retain the traditional payment method for those who aren't able to use and keep pace with digital method of transacting.

[348Judah]

The problem with going cashless is that not many people will be able to embrace it.

I'd thought about it as well that will it be that convenient for everyone to go cashless same time since the development is not everywhere, the only countries to benefit that most are the developed ones, but we can't overlooked their relevances both in the role they play for the payment of goods and services in the world economical system, come to think of it this wat that bulkiness in cash is no more necessary in making payments while there are instances whereby cash is more needed because of the conditions surrounding it, the two need to be in use and i think bitcoin itself have solve alots of potential potholes in fiat cashless policy and regulations around it, no limitations in bitcoin transactions unlike in fiat.

[ChrisPop]

First of all I think if we do indeed make the transition to a 'cashless society' certain safeguards for privacy will be put in place. But indeed it would be a real hit to privacy. Unless they come up with a really smart system that encrypts data and only a part of the data is publicly available while the rest needs let's say the private key of the individual, but that becomes complicated if authorities need to investigate a criminal case.

I'm sure CBDCs are not going to be the single asset in existence so bartering would still be available.

A decentralized currency like Bitcoin would be the way to go. I would go even further and say that a mix between a stablecoin (maybe backed by Bitcoin) would be the best way for our global financial system.

[minime0105]

I think the thing that can make Cryptocurrencies users not afraid of investment is a clear policy, in my opinion without a clear policy will make users always worried and confused, especially the latest cases namely Luna, this can happen and repeat without being able to be controlled.

the thing that will make filter currency uses not to be afraid of investment is the understanding and the past knowledge of cryptocurrency falling and The rising, because is known that anyone who knows or who invested cryptocurrency before can not be afraid of cryptocurrency because it has experienced bad market of cryptocurrency so whatever that is happening now is just a repeatition of cryptocurrency market

[boltz]

It's way too early so think about a cashless policy and a cashless society. Bitcoin barely reached 10% of the total population or something similar so there is still plenty of road to go and plenty of time to let Bitcoin and cryptocurrencies evolve by themselves.

Yes,  I would embrace a cashless policy but not now and not in the next years. I do think a cashless policy should be available when cryptos will be fully regulated and will have more laws based on it. For now , we should be happy with what we have.