Cashless Economy: Is Society ready for transformation? - page 9.

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Quote from: Kelvinid on April 04, 2019, 06:59:11 AM

Quote from: devinks on April 04, 2019, 06:43:13 AM

if in my opinion the person is not ready to make a transaction not using paper currency because not everyone wants to change transformations in life every day. because the paper money has become part of their lives

Most probably it happens in those remote areas where there is absence of internet and their capabilities. If there is no probably with that, it for sure they are using it by then. Though fiat is still the majority currency we used but knowing that we are heading for more crypto user in the future. This is process and it takes time before if finally be transformed into crypto.

Changing banknotes or fiat with crypto to carry out daily transactions in the community will be very difficult, especially for those who live in rural areas whose infrastructure does not support crypto presence. So, paper money will still exist even though crypto is growing rapidly now.

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Quote from: devinks on April 04, 2019, 06:43:13 AM

if in my opinion the person is not ready to make a transaction not using paper currency because not everyone wants to change transformations in life every day. because the paper money has become part of their lives

Most probably it happens in those remote areas where there is absence of internet and their capabilities. If there is no probably with that, it for sure they are using it by then. Though fiat is still the majority currency we used but knowing that we are heading for more crypto user in the future. This is process and it takes time before if finally be transformed into crypto.

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if in my opinion the person is not ready to make a transaction not using paper currency because not everyone wants to change transformations in life every day. because the paper money has become part of their lives

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Quote from: Finestream on April 03, 2019, 11:51:15 AM

Quote from: 1BTC EQUALS 1CAR on April 03, 2019, 12:30:13 AM

You can watch some of it on Youtube and you will be amazed on how they are adapting that cashless system especially in China. I saw them pay using their smartphones for their gas, food and any basic needs of a consumer. I really see that convenience of doing that and I know that sooner the whole world will adapt it.

Yes.Eventually more countries will soon to adopt a cashless society because whether we like it or not,we are heading into a cashless economy brought by fast changing technology.If China had made it into their more convenience,then i think other countries too would also do the same and will experience more convenience too brought by bitcoin.

China's economy can affect the economy in the world, of course China is one of the mecca for cryptocurrency. moreover China has a lot of cooperation with other countries, of course this can affect the culture using crypto currencies

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Quote from: 1BTC EQUALS 1CAR on April 03, 2019, 12:30:13 AM

You can watch some of it on Youtube and you will be amazed on how they are adapting that cashless system especially in China. I saw them pay using their smartphones for their gas, food and any basic needs of a consumer. I really see that convenience of doing that and I know that sooner the whole world will adapt it.

Yes.Eventually more countries will soon to adopt a cashless society because whether we like it or not,we are heading into a cashless economy brought by fast changing technology.If China had made it into their more convenience,then i think other countries too would also do the same and will experience more convenience too brought by bitcoin.

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Concept of "Cashless society" has been looked globally, particularly because the world is experiencing a rapid and increasing use of digital methods of recording, managing, and exchanging money in commerce, investment and daily life in many parts of the world. In theory term "cashless society" could be stated as move forward, for me this could be - society where cash is replaced by its digital equivalent (not need to be crypto or as many think bitcoin), money exists, but only as recorded, and is exchanged only in electronic digital form (again dont need to be crypto particularly bitcoin).

However we have seen that every new change in the world have good and bad sides of process. Here think its the same case. No matter that this will rapidly be used and to say that transaction speed could be instant, not to mentioned when companies need to pay each other and they are across the globe sending was up to 72 hours, imagine this in let say 7 minutes. However its something that no matter how much we wanted to happen will take time to be, on this I dont count some countries that have reduce cash usage for more then 50% and we have them all over the world.

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This matter that the country of India is talking about is so interesting. I want somethint like this to discuss about. But well, this is not an easy matter to deal with. It requires a lots of efforts and of course, the most is time to dwell with this.

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The community is always looking for this wonderful and great technology or innovation that could ease the transaction. Meaning cashless society is ideal but we know that it could not apply to all and there is no absolute cashless in thr society.

One of the key that we can already move to a cashless society is the bitcoin. This system is one of the great innovation with the idea of decentralization and peer to peer transaction basis.

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You can watch some of it on Youtube and you will be amazed on how they are adapting that cashless system especially in China. I saw them pay using their smartphones for their gas, food and any basic needs of a consumer. I really see that convenience of doing that and I know that sooner the whole world will adapt it.

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Well, most societies are adopting cashless payment methods especially when the technology is available. While it's very convenient and safe in most instances, it is important to note that some sellers and buyers choose to use cash even when POS services are available. l have had experiences where I'm charged 5% more if l use a card (transaction processing fee). Because l want to minimize cost, l don't mind paying cash in these instances.

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Quote from: Indrawan77 on February 28, 2019, 07:00:16 AM

Well even a well developed countries still not entirely cashless, I doubt it could be succeed in the developing country, it need a sophisticated infrastructure and all of the citizen that are aware of technology, the cashless technology couldn't be suddenly implemented, it need times and adaptation, so I will say for now the society still not ready yet, maybe if the government consistent in 5-10 years it will work

yes, I think developing countries must focus on infrastructure, education, hospitals, and also labor. talking about cashless is too far in my opinion, because there are still many things that need to be fixed.

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Quote from: Finestream on March 28, 2019, 11:36:12 AM

People who are illiterate should be given consideration with the government.They should be educated first about how a cashless economy will work.Once they will be able to adopt with a cashless society,i think it will be more easier for cryptocurrency to attain mass adoption in the future.For now,i would say that our society is not yet totally ready for a cashless economy.

The reason a cashless society is not possible now has nothing to do with education, it has to do with the costs associated with technology, when you have a huge percentage of the population without access to even the most basic services like running water or electricity it becomes apparent that it's going to be impossible to make those people to go digital instead of cash because there is no infrastructure in place to allow them to do that.

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Quote from: mornabo on March 28, 2019, 02:34:16 AM

Quote from: KennyR on March 27, 2019, 04:12:52 AM

As of now the people aren't ready to get transformed. Society is full of different levels of people, here people at the top will find it easy to get transformation. The low level people find it difficult and at some point they will adopt it. Cashless economy will continue to happen in a gradual manner.

As long as poverty is still not resolved, of course there are still many people who will be oppressed by such a system, imagine if the government imposes a cashless implementation to their economy and society, what about the low level people to be survived?

Eradicating poverty has got nothing with cashless society. I think once a government is ready to implement the cashless policy system, even those you refer to as low level people would adjust and learn to accept the new payment method. After all, those low level people still carry out transactions daily, the only challenge is knowledge of which I am sure they would learn how to use.

No matter the effort of government, there would always be a little level of poverty in an economy, takes many years to achieve a completely poverty free economy and we can’t say we have to wait till this is achieved before the implementation of cashless policy.

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Quote from: Ayiranorea on March 28, 2019, 10:52:21 AM

Quote from: Activitycoin on March 28, 2019, 10:35:07 AM

Quote from: KennyR on March 27, 2019, 04:12:52 AM

As of now the people aren't ready to get transformed. Society is full of different levels of people, here people at the top will find it easy to get transformation. The low level people find it difficult and at some point they will adopt it. Cashless economy will continue to happen in a gradual manner.

No according to me we already has been transferred, people are using crypto currency more than fiat now, our economy has become higher with this change because you know people are so busy now a day so it is hard to get the chance to buy our needs after travelling long distances and leaving our work, instead of it people prefer buying online with online currency.

That's not fair, however we get access to buy each and everything online, the consumer strength of direct buyers were higher than that of the online buyers. The direct buyers to have begun to use the digital payments which is why in recent days we've seen massive increase in digital payments usage. As of now cryptocurrency usage is limited and future might give a massive growth when the direct buyers prefer cryptocurrencies over digital payments.

But however we have everyday something new that is in process of adopting not just crypto but more into card payment for everything or mobile payment as well. We are in this that we cannot live without our handy little thing mobile devices was this phone or tablet.

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Quote from: mornabo on March 28, 2019, 02:34:16 AM

Quote from: KennyR on March 27, 2019, 04:12:52 AM

As of now the people aren't ready to get transformed. Society is full of different levels of people, here people at the top will find it easy to get transformation. The low level people find it difficult and at some point they will adopt it. Cashless economy will continue to happen in a gradual manner.

As long as poverty is still not resolved, of course there are still many people who will be oppressed by such a system, imagine if the government imposes a cashless implementation to their economy and society, what about the low level people to be survived?

People who are illiterate should be given consideration with the government.They should be educated first about how a cashless economy will work.Once they will be able to adopt with a cashless society,i think it will be more easier for cryptocurrency to attain mass adoption in the future.For now,i would say that our society is not yet totally ready for a cashless economy.

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Quote from: Activitycoin on March 28, 2019, 10:35:07 AM

Quote from: KennyR on March 27, 2019, 04:12:52 AM

As of now the people aren't ready to get transformed. Society is full of different levels of people, here people at the top will find it easy to get transformation. The low level people find it difficult and at some point they will adopt it. Cashless economy will continue to happen in a gradual manner.

No according to me we already has been transferred, people are using crypto currency more than fiat now, our economy has become higher with this change because you know people are so busy now a day so it is hard to get the chance to buy our needs after travelling long distances and leaving our work, instead of it people prefer buying online with online currency.

That's not fair, however we get access to buy each and everything online, the consumer strength of direct buyers were higher than that of the online buyers. The direct buyers to have begun to use the digital payments which is why in recent days we've seen massive increase in digital payments usage. As of now cryptocurrency usage is limited and future might give a massive growth when the direct buyers prefer cryptocurrencies over digital payments.

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Quote from: KennyR on March 27, 2019, 04:12:52 AM

As of now the people aren't ready to get transformed. Society is full of different levels of people, here people at the top will find it easy to get transformation. The low level people find it difficult and at some point they will adopt it. Cashless economy will continue to happen in a gradual manner.

No according to me we already has been transferred, people are using crypto currency more than fiat now, our economy has become higher with this change because you know people are so busy now a day so it is hard to get the chance to buy our needs after travelling long distances and leaving our work, instead of it people prefer buying online with online currency.

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Quote from: KennyR on March 27, 2019, 04:12:52 AM

As of now the people aren't ready to get transformed. Society is full of different levels of people, here people at the top will find it easy to get transformation. The low level people find it difficult and at some point they will adopt it. Cashless economy will continue to happen in a gradual manner.

As long as poverty is still not resolved, of course there are still many people who will be oppressed by such a system, imagine if the government imposes a cashless implementation to their economy and society, what about the low level people to be survived?

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Quote from: KennyR on March 27, 2019, 04:12:52 AM

As of now the people aren't ready to get transformed. Society is full of different levels of people, here people at the top will find it easy to get transformation. The low level people find it difficult and at some point they will adopt it. Cashless economy will continue to happen in a gradual manner.

The transformation could be possible but it depends on your perspective about money and society itself, most money is already in digital form and only exists in the databases of banks so in a way we are already living in a society that is mostly cashless and that is because most of the wealth of the world is concentrated in the hands of a few persons, however if what you want is that every single person in the world can use an electronic form of payment we are very far away from reaching that point.

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Quote from: KennyR on March 27, 2019, 04:12:52 AM

As of now the people aren't ready to get transformed. Society is full of different levels of people, here people at the top will find it easy to get transformation. The low level people find it difficult and at some point they will adopt it. Cashless economy will continue to happen in a gradual manner.

- Well, we just need to look at reality, look at our daily activities and daily life, everything always revolves around cash and cash, modern technologies rarely appear unless these are large amounts of money and need to move to a far place. And it is too obvious for us to know that people are still not ready for a cashless economy, I might even think we're ready but we don't want this change because we always like what is familiar and convenient for us, cash is in line with our criteria while other technologies are too complex and troublesome during use

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