Are we heading toward a cashless future?

[MarjorieZimmermanGinger]

With increasingly rapid and easy developments, I think all regions will follow suit for the convenience of digital payments, but I also don't think that physical money will disappear, maybe it will only be replaced a little, but for some buying and selling transactions, physical money must still be prioritized and be proof for someone regarding their transaction.

I'm not highlighting this in a general capacity, but I've looked around my area and found that many people currently lack the ability to use digital currency for payments. The resources and technology available in our area are still quite limited, so the potential for replacing fiat currency with other payment systems is not yet feasible. Conversely, people are still quite accustomed to using fiat currency for transactions at this time. But perhaps in urban areas this is already underway and most people pay for things using digital payments because it's convenient and eliminates the need to carry fiat money.

[Xcode7]

With increasingly rapid and easy developments, I think all regions will follow suit for the convenience of digital payments, but I also don't think that physical money will disappear, maybe it will only be replaced a little, but for some buying and selling transactions, physical money must still be prioritized and be proof for someone regarding their transaction.

I'm not highlighting this in a general capacity, but I've looked around my area and found that many people currently lack the ability to use digital currency for payments. The resources and technology available in our area are still quite limited, so the potential for replacing fiat currency with other payment systems is not yet feasible. Conversely, people are still quite accustomed to using fiat currency for transactions at this time. But perhaps in urban areas this is already underway and most people pay for things using digital payments because it's convenient and eliminates the need to carry fiat money.

In remote areas or especially in traditional markets, it is certainly not possible for them to use digital transactions. Limited access for the elderly is quite understandable and I also believe that the government will continue to monitor and will not eliminate physical money even though digital payments are widespread. However, for those of us who already understand and understand the convenience of digital transactions, of course we will take advantage of this. I also believe like you that cash will not be replaced.

[MarjorieZimmermanGinger]

In remote areas or especially in traditional markets, it is certainly not possible for them to use digital transactions. Limited access for the elderly is quite understandable and I also believe that the government will continue to monitor and will not eliminate physical money even though digital payments are widespread. However, for those of us who already understand and understand the convenience of digital transactions, of course we will take advantage of this. I also believe like you that cash will not be replaced.

It's not limited to the elderly because even the general public doesn't have access to digital payment systems. Perhaps in the coming years, digital payment systems will continue to develop, but it will take time, considering that people in rural areas are not yet accustomed to using this method of payment, even though we know that traditional fiat currency payment systems will continue to exist. Modern developments may provide certain conveniences in many situations, but it will take time for the public to adapt to these developments, especially regarding payments or transactions using digital money.

[fuguebtc]

In remote areas or especially in traditional markets, it is certainly not possible for them to use digital transactions. Limited access for the elderly is quite understandable and I also believe that the government will continue to monitor and will not eliminate physical money even though digital payments are widespread. However, for those of us who already understand and understand the convenience of digital transactions, of course we will take advantage of this. I also believe like you that cash will not be replaced.

It's not limited to the elderly because even the general public doesn't have access to digital payment systems. Perhaps in the coming years, digital payment systems will continue to develop, but it will take time, considering that people in rural areas are not yet accustomed to using this method of payment, even though we know that traditional fiat currency payment systems will continue to exist. Modern developments may provide certain conveniences in many situations, but it will take time for the public to adapt to these developments, especially regarding payments or transactions using digital money.

Besides the elderly, we should not ignore a group of people who make up a large proportion of the population in every country, children under 15-17 years old. Most children this age, especially in third countries, very few of them may own a smartphone or a bank account. Most of them still use cash provided by their parents every day.

You are right, the general public still does not have access to a full digital payment system whether in urban or rural areas. So cash is still king and isn't going away anytime soon.

Many of us make the mistake of drawing conclusions based primarily on what we see and what we are doing. No one looks at the big picture. Digital payments are growing, but they are not as dominant as we think.

[chigo]

With digital payments and central bank digital currencies on the rise, will physical money soon disappear?

The exact timeframe remains a mystery, but in the future, all our transactions will undoubtedly transition to a cashless system, no longer using fiat currency.

However, with the advent of blockchain technology, money circulation can be easily controlled. It would be extremely dangerous if money were circulated without a controlled amount in the future. It would only create economic chaos because the exchange rate and the amount of money in circulation would be completely unclear.

[bettercrypto]

With digital payments and central bank digital currencies on the rise, will physical money soon disappear?

I do believe that we really are headed in that direction; in fact, I think some other countries are already implementing fully cashless systems, if I’m not mistaken. It’s just that here in our country, I’m not sure if we’re getting left behind or what.

Although aside from credit cards, we do at least have e-wallets and digital banks that are also keeping up with the trend nowadays, to be honest. I’m just not sure when
the time will come that physical money or fiat will no longer be needed.

[harapan]

With digital payments and central bank digital currencies on the rise, will physical money soon disappear?

Not completely.
Yeah. Jack Dorsey thinks we do not need the Fiat currencies anymore but we can do better with merging them both.
Ome thing we should know is that it will take a whole lot to displace the Fiat system and paper money completely,  too much needs to be done to displace them of the top. A lot more awareness haven't been done yet around the globe about digital currencies and how to use them between. There are also too many government officials trying to make it difficult to change the culture.

[shield132]

We are definitely heading towards cashless society but it might take some time. In my country, pensionaires have bank cards where they receive their pension every month, then they have to go to the ATM, insert card and withdraw money. Sadly, pensionaires can't do that and banks hired people called consultants who will help these pensionaires. In my country, people also have to pay with their card in public transport because cash is not accepted. Some old people still struggle to pay and they give their card to younger people and ask them to put it on the pay machine.
If my country achieved this level of cashlessness, I'm sure that developed countries will achieve it at much faster rate and with more success. It's sad but cashlessness is inevitable.

[junder]

In remote areas or especially in traditional markets, it is certainly not possible for them to use digital transactions. Limited access for the elderly is quite understandable and I also believe that the government will continue to monitor and will not eliminate physical money even though digital payments are widespread. However, for those of us who already understand and understand the convenience of digital transactions, of course we will take advantage of this. I also believe like you that cash will not be replaced.

Yes, that's true. That still happens in my area, so cash payments are a constant. Just like with online work, which has become increasingly common, there are still some jobs that can't be done online. This reinforces the fact that traditional activities will survive despite rapid technological advancements.
I also use both methods: some work is done online and some is done in person. For payments, I sometimes use cash or bank transfers.

[BALIK]

With digital payments and central bank digital currencies on the rise, will physical money soon disappear?

No, cash is not going away anytime soon and so far, no country has achieved 100% cashless status.

The world is slowly moving towards digitalization and has made significant progress but overall it will take a long time to achieve a completely cashless world. Because to do this requires infrastructure, advanced technology, and everyone has basic knowledge of internet and technology. For developed countries, this is quite easy, but for developing or populous countries, implementation will face many difficulties, from infrastructure to low technology access rate.

So the transition to digital will be a long term process, not a quick one.

[Royal Cap]

With digital payments and central bank digital currencies on the rise, will physical money soon disappear?

I don't think cash will disappear soon and it's also true that digital payments are now moving at a rapid pace but it takes much longer for people to change their minds than it does for technology. Many people still feel safer having cash in hand, Not everyone in the shops and markets accepts digital payments and in many places in the villages the network is not well established and on top of that not all countries are interested in implementing digital money because it changes the entire system.

[Agbe]

With digital payments and central bank digital currencies on the rise, will physical money soon disappear?

I don't think cash will disappear soon and it's also true that digital payments are now moving at a rapid pace but it takes much longer for people to change their minds than it does for technology. Many people still feel safer having cash in hand, Not everyone in the shops and markets accepts digital payments and in many places in the villages the network is not well established and on top of that not all countries are interested in implementing digital money because it changes the entire system.

Nobody is saying that Cash will actually disappear in the real sense, but what is obvious is that the future of the world is heading towards a cashless situation were online payments will dominate the market. So anyone who is not ready to adapt to the changing trend will have it difficult to cope with. Because as it stands payments in businesses is done more easier than before helping to create a much better and secure future for business. Because before now the issue of security was one major concern in business where monies were stolen from shops but today that is a thing of the past because physical cash has been reduced to the minimum in business today.

[bakasabo]

In remote areas or especially in traditional markets, it is certainly not possible for them to use digital transactions. Limited access for the elderly is quite understandable and I also believe that the government will continue to monitor and will not eliminate physical money even though digital payments are widespread. However, for those of us who already understand and understand the convenience of digital transactions, of course we will take advantage of this. I also believe like you that cash will not be replaced.

I dont think there are many elderly people left who prefer cash over cashless payments. We are not that elderly generation now. Youth and digitalization is ruling the world now. We are close to a time, when there will no more of those who were born in 40-60s, to whom plastic card was something unique. More and more I notice situations how places where payments were made in cash, now are replaced with digital payments. Local markets were once place were cash dominated. Years ago some of the sellers were so advanced, that they had card terminals. Now you dont even need to have a terminal, but have a mobile (who now have everyone) with an app.

[rachael9385]

Yeah, in my country there are many promotion for using digital payments and the government also supporting cashless system.

Cashless system will give many advantages to the government, hence they're trying to make us to abandon cash and use their system. The government will easily track every penny spent and they can manipulate how much they want, people won't know it except banks and other entities who have access/work in this field.

Even though there is still a bit of relevance to it the cashless system is taking over, use of physical cash to transact at all times is becoming a thing of the past. Most politicians have been caught in the act of money laundering because they confiscated lots of cash in their possession that they couldn't hide. Now they are supporting the cashless system because they know they can use it to their advantage

[Zaka1221]

With digital payments and central bank digital currencies on the rise, will physical money soon disappear?

Not completely.
Yeah. Jack Dorsey thinks we do not need the Fiat currencies anymore but we can do better with merging them both.
Ome thing we should know is that it will take a whole lot to displace the Fiat system and paper money completely,  too much needs to be done to displace them of the top. A lot more awareness haven't been done yet around the globe about digital currencies and how to use them between. There are also too many government officials trying to make it difficult to change the culture.

Country to country trend is different And in my country, most payments are done online because they know the idea of online money but in the village area where most of the people are uneducated and they don't know how to operate mobile phone and how to give money to other people and how to scan QR code and they arc thinking that online transactions are very difficult and many old person think that it is scam to give money online because they listen the stories of online scam and which is possible but in the near future, currency will exist and most people will pay by cash because fear of people exist at that time. After 10 to 20 years, there could be change of thought of people and we will see online world .

[rangga28]

With digital payments and central bank digital currencies on the rise, will physical money soon disappear?

Not completely.
Yeah. Jack Dorsey thinks we do not need the Fiat currencies anymore but we can do better with merging them both.
Ome thing we should know is that it will take a whole lot to displace the Fiat system and paper money completely,  too much needs to be done to displace them of the top. A lot more awareness haven't been done yet around the globe about digital currencies and how to use them between. There are also too many government officials trying to make it difficult to change the culture.

Country to country trend is different And in my country, most payments are done online because they know the idea of online money but in the village area where most of the people are uneducated and they don't know how to operate mobile phone and how to give money to other people and how to scan QR code and they arc thinking that online transactions are very difficult and many old person think that it is scam to give money online because they listen the stories of online scam and which is possible but in the near future, currency will exist and most people will pay by cash because fear of people exist at that time. After 10 to 20 years, there could be change of thought of people and we will see online world .

Yes, not all places can conduct digital transactions. Traders in traditional markets still make payments in cash because they lack the facilities and are less interested in using non-physical money.

However, as time progresses, digital money will continue to be popular due to its ease of transactions and the sense of controlled security.

So, I see that physical money will not disappear and will continue to be used even though the world has become increasingly sophisticated and everything has transformed towards digitalization. However, as time goes by, the percentage of physical money used will continue to decline.

[PrivacyG]

Unless we resist, we are all going to be living like in China.
The government will be able to decide what we can and cannot buy.

And it does look like we are progressing towards that path. At least I can so that for the EU.

The entire World is progressing to a China like system.  I really doubt there will be a way to get out of the dystopia.

But as long as Bitcoin is alive we have freedom. So I am not worried.

What do you plan to do if they will try to heavily censor the Internet and attack Bitcoin and Bitcoin holders?  Do you believe Monero will be a viable alternative if things go even more dystopian and China like?

[puloweh555]

With digital payments and central bank digital currencies on the rise, will physical money soon disappear?

It's undeniable that current technological advances have changed the way we conduct transactions, and digital currency is now increasingly used, while cash is becoming obsolete. However cash remains necessary for now, as the transition from cash to digital currency requires a long and sustained process.

We can see this as technology advances as many countries begin developing CBDC issued by their central banks. However this transition will take a long time, requiring thorough preparation, including infrastructure, and accessibility for all. Therefore fiat currencies will not disappear and digital currencies will only add to our transaction options.

[YOSHIE]

With digital payments and central bank digital currencies on the rise, will physical money soon disappear?

Digital currency is currently still used in the crypto market, not many countries use digital money as legal payment currency to buy goods, property and so on, you still use digital to paper currency.

National and international economic value is currently still used based on the value of paper money, economic value has not been measured based on digital currency, meaning that forever paper money will still exist and digital money is only a digital intermediary to fiat, So physical money doesn't disappear, you can't assume the internet or digital network is intact, think about the consequences, paper money has no consequences, you can safely use it anywhere, paper money also allows you to shop on top of the mountains and in the sea, if someone sells the goods.

[yudi09]

With digital payments and central bank digital currencies on the rise, will physical money soon disappear?

It is not impossible. However, it is unlikely to disappear completely, but it will be left behind considering that all transactions are now easier using digital payments. Only in a few places will it not completely disappear, such as in traditional markets and villages where transactions still use cash.

Upon closer examination, almost all transactions in recent times have been dominated by digital payments. This is because people have come to prioritize convenience. There is no longer a need to carry large amounts of cash for shopping. In the digital age, everything is easier.