Bitcoin is the forerunner of the paperless economy.

[2stout]

I would think more so the forerunner of the cryptographic economy as opposed to the paperless economy as paperless has already been around in some forms but cryptographic, this is basically bitcoin.

[davis196]

Bitcoin has played an important role in making the system more popular in paperless economic transactions. In paperless economic transactions, any amount of currency can be exchanged quickly without any hassle. There is no interference from anyone and no one can know any information about this transaction. So in this transaction system many people feel comfortable to do the transaction.

Nah, credit and debit cards are playing a bigger role in dumping paper cash and embracing a cashless economy.
Credit and debit cards exist for decades and hundreds of millions of people are using them on a daily basis.
Bitcoin exists for 12 years and only several million people around the globe are using it(most of them might be HOLDers, which means that they don't use it on a daily basis).
Bitcoin isn't a forerunner of a paperless economy. Bitcoin is supposed to be the forerunner of decentralized finance, where you are you own bank and no politician and/or central banker decides how valuable your money actually are(by manipulating the money supply and creating inflation) .

[so98nn]

Sadly its becoming easier for the government bodies to track down any sort of transaction thats happening over blockchain. I mean if you keep it low then you can stay off the radar but with the more jurisdiction and laws getting harder for the bitcoin its hard to keep it safe. What I am referring to is, new rules of KYC's making it difficult to go completely anonymous. If you are going to exchange your bitcoins for the fiat then definitely you have either exchanger or p2p way to do so. In today's date most of them will ask for your KYC and thus your information is readily available if you run into some trouble. For bigger transactions this is even lot more obvious.

[Retiicle]

Bitcoin investors living in countries with less economic stability, bitcoin allows them to make trade internationally with well-off countries without the involvement of the third party that can contribute in bringing economic equality.

[mindrust]

Bitcoin has played an important role in making the system more popular in paperless economic transactions. In paperless economic transactions, any amount of currency can be exchanged quickly without any hassle. There is no interference from anyone and no one can know any information about this transaction. So in this transaction system many people feel comfortable to do the transaction.

That's not true I think. Since all the transactions arel recorded on a blockchain, all the government needs to do is knowing your public adress. That's why the exchanges enforcing KYC on their customers. They already know who is using crypto anyway.

Crypto is great but that's the only thing I don't like about it.

It is not anonymous like physical FIAT.  (except for monero) You heard that right. What you said above is completely wrong.

Physical banknotes are the only thing which is good about FIAT and removing them is not a good idea at all.

[AicecreaME]

I have to say credit cards and debit cards feels like they are the forerunner of the paperless economy to me. I have went outside today, and spent a good chunk of money (for my nation of course, it was more like 20 dollars only) and I never touched a single cash. It was definitely something I have to warn in the long run as a great risk to banknotes. I do not think that nations who "print" money even print it anymore, do they? Like when USA says they "print" trillions, do they literally go out there and print 100 dollars or whatever denomination of money worht of trillions of dollars? All in banknotes? And send that to somewhere? I still think most shouldn't even be printed, its all on bank accounts now.

I also think and feel that credit and debit card, together with digital banking, and e-wallets are the forerunners of paperless economy. Since bitcoin isn't adopted and legal yet in most places, most people often use the aforementioned things in their everyday transactions. Using cards, e-wallet, and digital banking application is convenient because you no longer have to withdraw and instead transact directly to the merchant. You no longer have to convert and exchange over networks just so you could pay unlike using bitcoin whenever the establishments do not accept it.

Although bitcoin is also beneficial because it is online and could be used in some merchants now. However, it still has its limitations given that not every state is in favor and have positive views about bitcoin and cryptocurrency in general. In addition, there has to be some improvements to be done regarding bitcoin processes of transactions and fees in bitcoin. This is just my opinion, but I've seen collective thoughts regarding this matter as well, so definitely it has to be addressed so that users can conveniently transact.

[fortuner]

Bitcoin investors living in countries with less economic stability, bitcoin allows them to make trade internationally with well-off countries without the involvement of the third party that can contribute in bringing economic equality.

If it has to be like that, then investors have limitations to invest in bitcoin, what about the development of bitcoin going forward?
But I also agree, as you said, perhaps on the economic side like that, you should pay more attention before choosing to invest.

[Luzin]

Physical banknotes are the only thing which is good about FIAT and removing them is not a good idea at all.

I don't think about abolishing the fiat money that the government has created and has recognized the world. Indeed, Bitcoin can be a pioneer of digital currencies. But in terms of effectiveness and non-fixed value it is contrary to the world financial system. The world governments are currently opposed, through the IMF because they cannot control it. They are afraid of inflation. That's the downside of crypto today. But if the government learns and I hear some countries publish CBDCs maybe that's what they use to match crypto. Although maybe their CBDC technology does not use Blokchain technology.

[aoluain]

I have to say credit cards and debit cards feels like they are the forerunner of the paperless economy to me. I have went outside today, and spent a good chunk of money (for my nation of course, it was more like 20 dollars only) and I never touched a single cash. It was definitely something I have to warn in the long run as a great risk to banknotes. I do not think that nations who "print" money even print it anymore, do they? Like when USA says they "print" trillions, do they literally go out there and print 100 dollars or whatever denomination of money worht of trillions of dollars? All in banknotes? And send that to somewhere? I still think most shouldn't even be printed, its all on bank accounts now.

I also think and feel that credit and debit card, together with digital banking, and e-wallets are the forerunners of paperless economy. Since bitcoin isn't adopted and legal yet in most places, most people often use the aforementioned things in their everyday transactions. Using cards, e-wallet, and digital banking application is convenient because you no longer have to withdraw and instead transact directly to the merchant. You no longer have to convert and exchange over networks just so you could pay unlike using bitcoin whenever the establishments do not accept it.

snip

Of course, just because cash is becoming less and less used doesnt mean FIAT is dying.
If people are not using cash they are using a digital FIAT wallet on their smartphone or using
plastic cards. Both offer a very convenient way to pay, transfer and share FIAT.

I cannot see Bitcoin being the replacement for cash any tome soon... apart from El Salvador

[Ucy]

There is no interference from anyone and no one can know any information about this transaction. So in this transaction system many people feel comfortable to do the transaction.

Yes, Bitcoin did a wonderful job by introducing blockchain to the world and also changed the way we see digital money but you'll be surprised that with the help of some blockchain analysis company or advanced research and the information about crypto transactions can be known because Bitcoin is not anonymous. It requires some extra activity ^{( the use of Bitcoin tumbler or privacy wallet)} to make Bitcoin transactions anonymous.

Ofcourse, Bitcoin is not anonymous as its name (Bitcoin) is known & not a secret. However, people can use it without revealing their names/identities which is the anonymity we are talking about. The anonymity can however be weak or strong depending on how you use Bitcoin. It can be strong when it's used in the way it was meant to be used - in p2p decentralized manner... Additional measures can be taken to make it stronger.
In the future, we hope to develop Bitcoin/crypto in a way that anonymity is guaranteed and can't be abused/misused by criminals which will probably render certain roles of the Blockchain analysis companies useless because security agencies would be able to run their own nodes, monitor the network themselves and report those doing evil behind the anonymity to the Network. Once you've been proven to abusing your anonymity, your identity which was well hidden/protected can be revealed via Network Consensus in a transparent manner. And most importantly, the whole process would be immutable just incase you were innocent or something like that.

[kryptqnick]

I'm pro-Bitcoin, but I don't think it's a fair evaluation of the level of contribution of Bitcoin into the paperless economy. It's an exaggeration to say that it's the forerunner, I believe. After all, there's PayPass, there is Google Pay, and the vast majority of people who don't deal with banknotes usually use something like this, not Bitcoin. It also only takes a few seconds for such a transaction to go through (not literally, of course, as the bank just blocks the funds while they still remain on your account for a while, but in practice you're free to go once this happens), whereas an on-chain Bitcoin transaction will take up to 10 minutes to get confirmed at priority fees.

[Kakmakr]

OP, your idea of a Paperless economy are very different than what most people know about a paperless economy.    In my opinion a paperless economy are a economy where you use zero print media and all transactions are done digitally.

The advantage of a Paperless economy are increased efficiency, paper and printing cost savings, time savings, storage cost savings, environmental benefits, efficient file retrieval, and enhanced customer service. 

Bitcoin only offer digital transactions and a Blockchain of information that can be used to store and retrieve transaction information. 

[jrrsparkles]

I'm pro-Bitcoin, but I don't think it's a fair evaluation of the level of contribution of Bitcoin into the paperless economy. It's an exaggeration to say that it's the forerunner, I believe. After all, there's PayPass, there is Google Pay, and the vast majority of people who don't deal with banknotes usually use something like this, not Bitcoin. It also only takes a few seconds for such a transaction to go through (not literally, of course, as the bank just blocks the funds while they still remain on your account for a while, but in practice you're free to go once this happens), whereas an on-chain Bitcoin transaction will take up to 10 minutes to get confirmed at priority fees.

Exactly, bitcoin is far beyond in this digital transaction but if we include the word decentralization then it will justify OPs statement, bitcoin created after successfully implemented the blockchain technology into the system so there is no centralized system, every miner will be a part of it so there is no forfeit currency, no control and no waiting time and huge fee while we transact across the borders.

[suzanne5223]

There is no interference from anyone and no one can know any information about this transaction. So in this transaction system many people feel comfortable to do the transaction.

Yes, Bitcoin did a wonderful job by introducing blockchain to the world and also changed the way we see digital money but you'll be surprised that with the help of some blockchain analysis company or advanced research and the information about crypto transactions can be known because Bitcoin is not anonymous. It requires some extra activity ^{( the use of Bitcoin tumbler or privacy wallet)} to make Bitcoin transactions anonymous.

Ofcourse, Bitcoin is not anonymous as its name (Bitcoin) is known & not a secret. However, people can use it without revealing their names/identities which is the anonymity we are talking about.

Based on your explanation, I don't agree with you about considering Bitcoin anonymous because the basic concept of every decentralized crypto is to prevent private data leaking that's pseudonymous in nature.
Having said that, saying Bitcoin is anonymous with the use of a Bitcoin tumbler or privacy wallet will mislead the newbies.

In the future, we hope to develop Bitcoin/crypto in a way that anonymity is guaranteed and can't be abused/misused by criminals

I don't see this happening because anonymity comes with liberation, not control.

[Stella Mese]

indeed with bitcoin, everything is easy, and in my opinion bitcoin is very helpful in business matters, for example many shy people are less interested in doing business face-to-face with someone, but since the presence of bitcoin, people can do business without eye contact with someone. and that is very helpful, for those who are interested in investing in bitcoin, for example like myself because I am a shy person, but since the presence of bitcoin I feel helped in my economy. and surely many people in this world are helped by the presence of bitcoin.