Cashless society - page 11. | Bitcointalksearch.org

Marrionbitcoin

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Quote from: Abiky on June 14, 2017, 10:41:23 AM

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. Wink

Cashless society is really possible but there should be regulations to be handled by the Government so that it is supported and protected. In fact, we actually doing a cashless wherein we can use either debit or credit card as payment of goods and services. Hence, it is possible to apply it to Bitcoin digital currency as same as with our existing credit or debit cards. Actually, Bitcoin has been created to make our lives better and easier wherein we can avoid high charges from using credit cards. So, we better to invest in Bitcoin now and its value increases as time goes by.

Abiky

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Quote from: cherryfer on February 20, 2018, 10:31:39 AM

It will be good for our economy for every transactions are being processed in just seconds. However, possible problems such as delayed transaction can arise for it is the means of payments by everyone.

Fiat money has nothing to do with criminality. Our lives will never transform into better wherein criminal activity will reduce for it will be dependent on how this people play part of our society. If they don't change criminality will never change.

I believe that it will co-exist with digital fiat for it part of the tend today and in fact not all individuals are fully accepted Bitcoins.

You do have a point there, mate. Both types of currencies (fiat and crypto) can be used for criminal activity whatsoever. It all depends on the person using them for such purpose. On the other hand, while digital payments may experience delayed transactions, that could be solved with new technologies and CS concepts developed today. Usually, DAG-based cryptocurrencies don't have the problem of scalability as they're able to scale to an infinite number of users over time. IOTA has such model and grows in terms of scalability as more nodes are implemented into the network. As such, transactions are extremely quick and there are no fees at all.

Perhaps, in the future, the model of DAGs (or a similar one) could be used by governments around the world to issue their digital currencies. Payments will take a fraction of a second regardless the region or area where two parties are transacting. The benefits provided by cashless payments, will eventually transform our society for the better in the way we handle our money. Both crypto and fiat will exist for years to come. As such, we might say goodbye to physical fiat and hello to digital fiat soon. Just my opinion

Pinoyfan

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Quote from: Abiky on June 14, 2017, 10:41:23 AM

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. Wink

Well it is really convenient to pay with one tap of your cellphone.From this you prevent long and tiring lanes. But it doesn't mean that fiat money will disappear. How would you pay if you don't have internet? we all knew that there are countries has bad internet connection So its good that there is fiat money that you can rely all the time.

thomas41546

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Quote from: Abiky on June 14, 2017, 10:41:23 AM

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. Wink

It is not feasible to make society totally cashless. There are large ratio of people around the world who are totally handicap towards technology as they illiterate and don't know how to use gadgets or Internet. Moreover internet services are not expanded to remote areas of the world.

BILGPS

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If we look at the society then cash is playing a good role in present time so we can perform transaction off line and your money is in your possession. Cash is good for many transactions and if we look at the current trend every thing is done through cash ans cash is better than online form of money like the crypto currency like bitcoin is operating for many transactions.

SkustaClee

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Quote from: Abiky on June 14, 2017, 10:41:23 AM

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. Wink

I think the cashless society will happen if all countries will legalize bitcoins. There are people who wants to use bitcoins but they can't use bitcoin because it is illegal in their country. All of the government should now accept bitcoin as money.

CuteBaby123

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Quote from: Abiky on June 14, 2017, 10:41:23 AM

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. Wink

Cashless society means advancement for the future and adapting new technologies with advanced features. These will lead to betterment of every nation because transaction will become more transparent and easily detected. Likewise, the flow of money will be easier to trace and more convenient to balance and check. If these will happen, then cryptocurrencies will have a great chance to be adapted by many people and governments.

Farhan786

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Bitcoin is going away nowadays and people are going for interest, as people can use cash instead of Bitcoin in the future. So Bitcoin is now looking for a master card to provide their users. That they would rather use wallets. Somewhere to get their money back. So, maybe happening again in 2018.

ginika

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I think due to the advancement of technology, people without money is a government effort that aims to monitor and control the amount of money circulating in society.

diva.man

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In China, my cashless society is like this!

Bus -- alipay; The dining hall has a meal card, the meal card is also the alipay recharge; In the evening, I cooked my own food, and I bought my food downstairs. Supermarkets buy groceries -- alipay; To use cash, or to pay treasure, of course, is to ask a cash colleague to take, and then alipay to the other party.

abramovf

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Quote from: Abiky on June 14, 2017, 10:41:23 AM

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. Wink

This can be possible only in developed countries. Most of the people in developed countries have not even heard of bitcoins.

Nivir

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Quote from: lucianus_luciferus on February 21, 2018, 05:05:10 PM

i think we are beginning to become a cashless society.
i personally don't ever use cash and don't carry cash unless the store i go to does not accept contactless payments.
even car parking machines are starting to accept contactless payments
and if you think about it is the next natural step of evolution to go this way
2000 years ago there were the coins, then about 1000 years ago they made paper notes so now we have the technology to actually go paperless
maybe my grandmother will not know how to use android pay but i am sure she can learn and also all the debit and credit cards can be contactless so it will be very easy
Grin

I am also feeling better doing cashless mode of payments. I usually used cards in nearly all of my transactions. But sometimes we cannot really avoid using fiats especially in rural and far away places.

lucianus_luciferus

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nothing is lost if you don't lose yourself

i think we are beginning to become a cashless society.
i personally don't ever use cash and don't carry cash unless the store i go to does not accept contactless payments.
even car parking machines are starting to accept contactless payments
and if you think about it is the next natural step of evolution to go this way
2000 years ago there were the coins, then about 1000 years ago they made paper notes so now we have the technology to actually go paperless
maybe my grandmother will not know how to use android pay but i am sure she can learn and also all the debit and credit cards can be contactless so it will be very easy
Grin

MiF

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Quote from: Crazygreek on February 21, 2018, 03:55:37 PM

It's bad idea to change cash into digital currency because you never know what happen tomorrow with your system. It's can be hacked at any moment...

Cashless society is not possible, because even now that the society start making atm card debit or cider card etc. they really need a cash to deposit to put or load it into the card so then we really need cash, same with digital currency we also need fiat to have bitcoin to be load in our web wallet to be use as payment in our daily basis needs. I think cash less society is not possible.

Crazygreek

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It's bad idea to change cash into digital currency because you never know what happen tomorrow with your system. It's can be hacked at any moment...

Dux2K

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Concept for cashless society can be good idea, but many thing need to be said and done before this can be possible. Believe this can be done but from current point of view we are still far from this.

boynegro

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Quote from: MostHigh on June 14, 2017, 11:01:37 AM

Abiky i believe a paper currency less society is possible but not in the recent future. First of all this will require universal free internet access which will not be possible until probably thirty years time that is even if the developed world is ready to make sacrifice to help the less endowed get to that le

The debut of Apple Pay and the rise of bitcoin show that the cashless society is becoming reality, with huge implications for business and consumers.

waskaplung

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Quote from: bouren on June 14, 2017, 10:47:50 AM

Have you seen Mr. Robot? You reminded me of it.
Well coming to real world, it is not possible at least for next 20 years. No matter how easy cryptocurrencies made the finance but still its scope limited to internet. We need liquid flow of internet to transfer BTC and other coins from one person to other. But if we see current situation, internet is not the bite of every individual. Lots of technical jargon stops the way of utopian society of CRYPTOCURRENCIES.

A cashless society describes an economic state whereby financial transactions are not conducted with money in the form of physical banknotes or coins, but rather through the transfer of digital information (usually an electronic representation of money) between the transacting parties.[1] Cashless societies have existed, based on barter and other methods of exchange, and cashless transactions have also become possible using digital currencies such as bitcoin.

dotz5

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The world is slowly shifting to cashless society with the introduction of many types of of e-payment. Youngsters are able to adept to changes but it might be a challenge for older generations who prefer the feeling of having physical notes. Cashless society is possible but it takes time to go fully cashless. Let the elderly breathe some air from learning of smartphone before drowning them with another wave of cashless technology.

rerek007

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Quote from: Abiky on June 14, 2017, 10:41:23 AM

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. Wink

It's a form of cashless society because bitcoin is a electronic form of currency it is a cash less you don't gonna handle the money

Topic: Cashless society - page 11. (Read 36284 times)