A cashless society will bring a lot of convenience to the people and to businesses as well. There will not be a need to fumble with cash for payment and businesses can receive money directly into the account. Corruption will be reduced.
There will also not be the need to print paper money.. this is so expensive and uses up a lot of resources and is wasteful in the amount of paper needed. Central banks need to circulate new cash and bring in the old ones for destruction annually. All these waste can be eliminated by going cashless.
If you go to India and China today, you can experience what it is like being cashless. They have overtaken the developed world like US and Europe by leaps and bounds in terms of a digital society. Everyone, including the beggar on the street, can have a QR code so that payment can be send to them.
No additional hardware like those debit and credit card machines today. A QR code is all that is needed and customers just need to scan the QR code to make payment via the app on their phone.
Cashless is here, without blockchain, and making lifes better in India and China. But blockchain will bring about greater transparency to society and cut off intermediaries like banks..
Topic: Cashless society - page 14. (Read 36273 times)
I heard it before. Time will come that Physical Money will no longer be needed to buy things. If you heard the news about the Microchip that can be implanted in your Hand, that was just the beginning. Sooner or later, a Country will no longer use Cash because they can use that Microchip to buy and transact. This it just my opinion.
I share the same vision with you, mate. A future where we won't need physical hard cash at all but instead pay for anything we want with a microchip in your hand. Given the advantages that blockchain technology provides to our world, all personal, medical, and financial information would be stored in the microchip. So, we won't even need to use our smartphones to pay at a store, as you could easily pass your hand in the scanner to make the payment. It's all convenient, but sometimes terrifying as governments would have complete control over all your valuable information.
Blockchain technology has proved to become a transparent means of allowing any external entity to spy and track you. Since government would have their own ledgers they could audit and verify any transaction from their citizens at any time. Therefore, everything would be trackable from purchases to proof of ownership, and more. In the end, a cashless society may prove to become both a benefit to our world, as well as a doomsday weapon from all the world's governments. Just my opinion
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.
Our society will become cashless. Lots of newest technology are invented the best and easy way of paying bills are through online hastle free . We can sve our money through it , the best thing for our economy .Since we used some of online transactions if it happens that it never you used fiat thats much better but make it sure all of Us are knowledgeable bout this even those poor people. 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.
I heard it before. Time will come that Physical Money will no longer be needed to buy things. If you heard the news about the Microchip that can be implanted in your Hand, that was just the beginning. Sooner or later, a Country will no longer use Cash because they can use that Microchip to buy and transact. This it just my opinion.
In life everything must be balanced, and different social classes will make everything beautiful, of course the economy will not grow if in a country all rich because they do not want to work, or vice versa, if everything is poor it will be chaotic.
Cashless society is a very good idea. It is possible yes but not in the near future in a third world country such as Philippines. By that time bitcoin is already regulated by the government since it is the government who will finance the facilitation of providing all the necessary to make this happen. As a result, our government definitely will collect and increase taxes for them to gain. It is like this in our country. That is why it is better to use both, fiat money and digital money. It just depends on where you will have to perform digital transaction to save some money and charges as well.
The first thing to do before implementing a cashless society is to make the whole society become an internet literate so they can easily use it in making any online transaction. Many people are still don't know how to use the net properly because they have no enough knowledge in utilizing it. Next is to bring the technology into the countryside or in the farthest place of a country where there still no access of internet and educate the people there.
Completely agree with you, mate. Establishing proper education and expanding internet access to all the countries of the world will contribute towards making a cashless society a reality. Slowly, day by day, we've seen how cryptocurrencies have become popular in the mainstream world. As such, there will be no doubt that governments will issue their own digital currencies and help spread usage within their regions. Once satellite internet becomes a reality, and governments take the effort to educate their citizens into using cashless payments, a cashless society will come into effect before you know it.
There have been many initiatives towards making the internet accessible across all the areas of the world. It is only a matter of time before people who never had access to the web will begin to do so and start educating themselves about the huge benefits that cashless payments provide. This may happen for sure, as governments are starting to grasp the benefits that the blockchain provides. Since Bitcoin's underlying tech provides transparency and auditability, such features would be hard to ignore for any government to use into their fiat currencies. Just my thoughts
I think that future for street beggers will be a really bad future and I a really sorry for that but I think when we create enought smart robots that nobody will not need to work,everybody will have wage from robot work and everbody will be able to have robot cleaner and we will buy stuffs with btc but first some mans will decrease number of pupil in the wo
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.
we cannot expect our society to become a cashless society as long as there are poor people and 3rd world countries. Not all people has access to the world wide web, if we convert our means of trading to cashless society, those people cannot cope and will definitely be left behind.
Yes the people of the world like the cash base society and those who have cash they can easily buy goods and services of the world every where like the exchangers there are so many exchanges through internet we can change our money but the problem is the transaction time and the transaction cost but the cashless society will be a big challenge and problem of the world.
In a sense, it will reduce snatchers if you don't have the physical money in your wallet or bag. And shopping cashless will also lessen the hassle of withdrawing money from an ATM. But the internet is a scary place, like the deep sea below, we'll never know if there will be people who'll take the opportunity to steal from you using the technology. It's still in the process of trial and will still need to study thoroughly.
However governments focus on digital growth cashless society is simply an impossible task. The reason why I made this statement is that even now people avoid using cards just because of the increased fee that's been levied as well few people haven't gained the required knowledge to use it.
For now this seems like a dream and I agree that such transaction is not yet feasible. Internet service isn't available yet to the many. If it is, then how about the third world countries. Should a very small store that sells candies and cigarettes be connected online? If they do they won't gain from selling. For now its a no no.
Cashless society is applicable to big country, but in Philippines not well prepared we still need cash money. if you go somewhere need it and a lot of problem sometimes when you use card like offline or out of order and you don't have a cash money how can you move or buy goods, anything you need. and so expensive if you are always use card. every transaction there is a service charge. if you will count all expenses much money lost to your savings or account. that's why some used bitcoin. bitcoin is not much complicated not like bank. direct transaction anywhere. cashless good when you use bitcoin but in bank and you used card only is not good. we most have both. cash and card... there is alternative if the other one is not available.
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.
It really won't reduce crime since criminals would just kidnap people to steal their implants. Probably would just shift crime niche from physical robbery to digital robbery and hacking.
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.
In the past few years new different technologies was developed. Different form, different way and in different country in the world. It is possible to have a Cashless Society in the community because there is a lot of people that are so smart,gifted and genius to change everything ,but before launching this technology many things that is needed to consider. There are some poor country that can’t adapt this technology ,because in this process it is needed a centralized internet to do a different transaction. It means that it will be additional expenses to the people.But , it can be possible when the government in one country will provide a free and centralize internet access to the community. In that way a Cashless Society will be implement. 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.
I think cashless society is convenient and fast, wherein we can transact anywhere without carrying cash and it is done long time ago by using credit cards in purchasing goods. But still there is a negative note to this wherein there's a lot of people have been fraudulently used others card without authorization. And that's the negative impact of cashless society.
This idea is not far from happening since it is laready started. Being a cashless society is one of the sign of the future or the upcoming future, being a cashless society is great it's a lot easier for all the people and being cashless it be a lot easy to transact or pay bills at any cost. Despite of of the facts it can have a disadvantage for being a cashless society, so it really requires a very long time before our society goes into cashless because it is not a small step for the world to take.
This is possible however I am not seeing any of this in the near future. For example, in a developing country like ours yes there are a lot of people who are into crypto currencies but there are a big chuck of the population who doesn't even have internet in their areas. So while it is true that cashless society is ideal to reduce criminality I don't think it is going to happen in the next coming years.
Cashless society allows the development of a country, cashless transactions reduce corruption once corruption less society means automatically economy of the country improves. By using cryptocurrency this is also a cashless system it has lot advantage to the users as well to the society.
With today's technology everything is possible but many will try to sabotage this from happening in some time. Many see blockchain and crypto as treat and as such many will try to deny or to delay as much as possible massive adoption in monetary system as we know now. Only if this comes to some go point then we could say that it could be cashless revolution, for now we can say that we use many plastic card that is consider cashless.
This is possible however I am not seeing any of this in the near future. For example, in a developing country like ours yes there are a lot of people who are into crypto currencies but there are a big chuck of the population who doesn't even have internet in their areas. So while it is true that cashless society is ideal to reduce criminality I don't think it is going to happen in the next coming years.
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