Topic: Cashless society (Read 36284 times)
It's can surely happen someday in future. But there are a lot of decades left for that. Firstly you need near 100% internet availability for all. Secondly there are hacking and internet security issues. Thirdly there are awareness and internet literacy issues. So yes, it will take time and more importantly will of the society and government, but yes, I see that happening in distant future.
For something to be a necessity like that it would require licensing, government acceptance, and with a blockchain involved - and therefore internationally.. I can see there being big problems. There are a lot of pros for it ofcourse, but I'm not sure it will be a reality anytime soon.
Have you ever wondered how would the world's economy be like in the future as a cashless society?
Perhaps, with the increased traction of blockchain acceptance nowadays, could lead to the creation of digital fiat currencies powered by blockchains that are managed by governments themselves. With this in mind, there would be no need for physical cash, as digital fiat currencies would provide many advantages such as quick settlement, global payments, full transparency, implants use on citizens to make payments, and more.
If this becomes a reality, which I'm sure that it will, it would radically transform our lives for the better and reduce criminal activity as a result of the full transparency and auditability that a digital fiat currency would have thanks to the power of the blockchain technology.
Also, it makes me wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.
Nevertheless, I would like to know your opinion about this.
Perhaps, with the increased traction of blockchain acceptance nowadays, could lead to the creation of digital fiat currencies powered by blockchains that are managed by governments themselves. With this in mind, there would be no need for physical cash, as digital fiat currencies would provide many advantages such as quick settlement, global payments, full transparency, implants use on citizens to make payments, and more.
If this becomes a reality, which I'm sure that it will, it would radically transform our lives for the better and reduce criminal activity as a result of the full transparency and auditability that a digital fiat currency would have thanks to the power of the blockchain technology.
Also, it makes me wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.
Nevertheless, I would like to know your opinion about this.
Cashless society is really good since we are are all going to use cryptocurrency to pay our bills daily and bitcoins price will grow as well so we can expect a lesser expenses in the future if we use bitcoins daily.
The cashless society will really happen if most of the people will prefer to use digital money than fiat money. If the bitcoin gained so much power, there is a big possibility that the bitcoin can replace the fiat money.
I'm not sure that world is ready for it. Cash helps people to understand the value of money but when evertything will cahnge to digital many people would be angry for sure.
i really believe on this insight, i mean it would be a wonderful world if everywhere will be cashless. I mean i'm a person who really hates hassle and loves convenience at it's finest. I mean who else here doesn't want it, so really believe in the power of blockchain technology will be a gateway in order for this one to happen in the future.
Yes we are moving now to a cashless society where we paid through the use of our gadgets, then it would be a stronger case to consider bitcoin payments. It is only a matter if all the merchants accepts bitcoin and if it is legal to use in a country.
It would be good yes, but many dont like not just bitcoin but crypto as global. Many banks dont like it cuz they cant control it but eventually we will come to the point where we will accept everything just to sell. We are close to become cashless society but many countries still depends from paper money usage. So just one step at the time for the moment.
Well sooner or later this would come true all the fiat are gone , only card it's not a cashless now it's card society , and as of now we can see the changes of our society , still looking forward and can't wait to see our world evolve to a better one.
Yes we are moving now to a cashless society where we paid through the use of our gadgets, then it would be a stronger case to consider bitcoin payments. It is only a matter if all the merchants accepts bitcoin and if it is legal to use in a country.
Nothing is impossible it comes to cashless society because in the next generation world much more rely on technology so I think cashless society is will be alright. The important is we buy what we need even in cashless or in cash.
Agree. In a few years from now, we might be able to experience a cashless society. It will depend on the level of adoption from the people in this world for it to become a reality. As such, it could take a short or long time before everyone on the planet starts making cashless transactions, putting an end to physical fiat for good.
Nevertheless, the more technology rises, the more people will adapt to it, transforming every aspect of our lives not only in finance, but also healthcare, education, and more. With a cashless society, everything would be much more efficient and the worldwide economy would become great again. Just my opinion
Cashless society is the reason why cryptocurrency is been created to reduce stress of going to the bank for normal transaction,with cryptocurrency you should be able to kickoff your transactions without third party.
There was a time when the people in Venezuela would pay before starting eating their meal at a restaurant because the prices of the food would rise after they had finished eating. This is because the value of their currency was very unstable and the IMF forecasted he inflation to be spiraling about 13,000 percent this year. This made the people to reduce their demand for cash and adopted the mobile money. The cash simply disappeared. So yeah a cashless society is possible. 
it would be very difficult in this world if people without using cash though there is already a lot of digital money that has entered the country of the country in this world. and to the extent that the public needs to require cash currency
A cashless society wherein a state conducts transactions not with physical money but with the use of digital currencies is a bit far-fetched at this point or even at the years to come. While we cannot ignore the fact that the online transactions and atm's are of much help and convenience, we cannot deny the reality that a society with no cash on hand is really difficult because not all countries are developed enough to have this kind of change. It will take a very long time for all the countries to adapt to the fast-rising technology especially in terms of development in finance.
I think maybe in the near future it will happen because the technology itself is unpredictable and making this happen will not be impossible
A society without money would be ideal it would be a solution to a ton of problems in society that would reduce the crime because there would be no physical money you could take, and that would make the global and simple transactions less troublesome
Well if i look at my own life 95% of my payments are electronic , it is much more convenient.
So i think it is inevatible we will go there, but it brings alot of problems . if you look just at privacy and a power shortage for example. But people won't care for that because they aren't caring for it now. Nobody holds big amounts of cash and most money is already online. So i think we are going there.
So i think it is inevatible we will go there, but it brings alot of problems . if you look just at privacy and a power shortage for example. But people won't care for that because they aren't caring for it now. Nobody holds big amounts of cash and most money is already online. So i think we are going there.
In my opinion In general, I think this will not result in government using cryptocurrency because most of them are decentralized. Something the government does not want.
This is possible, but it will be implemented by the government. This will result in a fiat currency converted to an electronic currency.
A cashless society would be ideal it would be a solution to a ton of problems in the society it would lessen crimes because there isn't gonna be physical money that you can take, and it would make global and simple transactions hassle less, maybe in the near future it would happened because technology itself is unpredictable and making this happen would not be impossible.
There have been a lot of people who have been pioneers of the cashless society issue, but the cashless society though helps its also helping to enrich some people who are on top of the matrix, for every transaction made you get to pay transaction fees always
Cashless society is the reason why cryptocurrency is been created to reduce stress of going to the bank for normal transaction,with cryptocurrency you should be able to kickoff your transactions without third party.
The cashless society is coming, and the block chain plays an important role in it.
With the development of block chain technology, cashless society is an inevitable trend of monetary morphological evolution.
Central Banks in many countries are watching and studying electronic money.
With the development of block chain technology, cashless society is an inevitable trend of monetary morphological evolution.
Central Banks in many countries are watching and studying electronic money.
Have you ever wondered how would the world's economy be like in the future as a cashless society?
Perhaps, with the increased traction of blockchain acceptance nowadays, could lead to the creation of digital fiat currencies powered by blockchains that are managed by governments themselves. With this in mind, there would be no need for physical cash, as digital fiat currencies would provide many advantages such as quick settlement, global payments, full transparency, implants use on citizens to make payments, and more.
If this becomes a reality, which I'm sure that it will, it would radically transform our lives for the better and reduce criminal activity as a result of the full transparency and auditability that a digital fiat currency would have thanks to the power of the blockchain technology.
Also, it makes me wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.
Nevertheless, I would like to know your opinion about this.
Nothing is impossible it comes to cashless society because in the next generation world much more rely on technology so I think cashless society is will be alright. The important is we buy what we need even in cashless or in cash. Perhaps, with the increased traction of blockchain acceptance nowadays, could lead to the creation of digital fiat currencies powered by blockchains that are managed by governments themselves. With this in mind, there would be no need for physical cash, as digital fiat currencies would provide many advantages such as quick settlement, global payments, full transparency, implants use on citizens to make payments, and more.
If this becomes a reality, which I'm sure that it will, it would radically transform our lives for the better and reduce criminal activity as a result of the full transparency and auditability that a digital fiat currency would have thanks to the power of the blockchain technology.
Also, it makes me wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.
Nevertheless, I would like to know your opinion about this.
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