Topic: Cashless society - page 15. (Read 36273 times)
Cashless society is possible, but before then government authority must provide internet facility, because there is no way cashless society be operate without internet. Another thing to be done for cashless society to be successful, government authority must create awareness, because not Everybody know what cashless policy is all about.
Cashless society is very hard to implement.It was already tried in india and it failed to deliver the expected results.Instead,it ruined the indian economy and its GDP rate fell from 7% to 6.1%.There are still lots of illiterate people who don't know about digital transactions and also internet is needed to make digital transactions.
Yes, it is very hard to implement for now because our world is not yet an internet of all things, there are still many society that are not exposed in digital technologybut we all know that we already started that in our society like ATM card, debit card and credit card and that is the basic system of cashless operation and there are many establishment adopted on it. Department stores, restaurants and even gasoline station are already have that system but we can't deny the fact that not all of us can used that system because we are not the same levels on the society from where we live.
Cashless society is very hard to implement.It was already tried in india and it failed to deliver the expected results.Instead,it ruined the indian economy and its GDP rate fell from 7% to 6.1%.There are still lots of illiterate people who don't know about digital transactions and also internet is needed to make digital transactions.
Yes, it is very hard to implement for now because our world is not yet an internet of all things, there are still many society that are not exposed in digital technologybut we all know that we already started that in our society like ATM card, debit card and credit card and that is the basic system of cashless operation and there are many establishment adopted on it. Department stores, restaurants and even gasoline station are already have that system but we can't deny the fact that not all of us can used that system because we are not the same levels on the society from where we live.
Cashless society is very hard to implement.It was already tried in india and it failed to deliver the expected results.Instead,it ruined the indian economy and its GDP rate fell from 7% to 6.1%.There are still lots of illiterate people who don't know about digital transactions and also internet is needed to make digital transactions.
Yes, it is very hard to implement for now because our world is not yet an internet of all things, there are still many society that are not exposed in digital technologybut we all know that we already started that in our society like ATM card, debit card and credit card and that is the basic system of cashless operation and there are many establishment adopted on it. Department stores, restaurants and even gasoline station are already have that system but we can't deny the fact that not all of us can used that system because we are not the same levels on the society from where we live.
Cashless society is very hard to implement.It was already tried in india and it failed to deliver the expected results.Instead,it ruined the indian economy and its GDP rate fell from 7% to 6.1%.There are still lots of illiterate people who don't know about digital transactions and also internet is needed to make digital transactions.
I think the digital currency will not be printed by the government of a country, because a country will surely maintain its sustainability in order for its currency to remain. There are many advantages of digital fiat money. But we have to see many parents who don't know and understand about this technology, I think it's impossible.
actually a lot of benefits from this cashless society.
I just imagine what about the village community and those who are not yet well established in the economy. may not be able to implement a cashless sosiety system because it will make it difficult for them to make transactions. because they can only transact with cash, especially in the smaller nominal. and never come into contact with the internet
I just imagine what about the village community and those who are not yet well established in the economy. may not be able to implement a cashless sosiety system because it will make it difficult for them to make transactions. because they can only transact with cash, especially in the smaller nominal. and never come into contact with the internet
Cashless society might be possible and would mean a lot of convenience but it will take ages before this would be a reality. It is the government of each country who will implement all the necessary things such as creating a law and preparing to invest large amount on facilities and technology to facilitate digital currencies anywhere in the world most especially in the third world counties like in the country where we are staying now.
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.
One of the advantages we benefit through the used of bitcoin is by being vitual money who can pay through online .It is fast and easy transactions. Cashless society for our future it may lessen the cases of fraud. And we can save our money through 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 not impossible to happen. But as what you can see in the streets, there are many street vendors or some small stores. There selling products with cheap prices, if they only accept bitcoins, the costumer will pay more because of the transaction fee. And another thing is if the government cooperates, cashless society might be happen.
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.
Cashless society means lower risk to many lives, lesser the work lesser the graft and corruption and more convenient to the people. But that would also mean alot of work to do. Since the system has limited resources it would be hard to attain cashless society, and some other financial institutions would not want it because in can kill their businesses. More studies are needed to promote this. And I'm looking forward for it. Each has its pros and cons. So we better analyze it.
Bitcoin fixes almost every issue that there with a cashless society. It allows citizens to make transactions but keep their identity anonymous from the government .
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.
Thinking of this is something amazing. Soon in the future it will happened. And it is part of our new technology invented which could help to make our life easier. And we can say that being cashless which we can pay through onlines is much easier.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.
Bitcoin can exist with digital currency or it can also use in investment, as long as we are using bitcoin it is always exist, and pay with online is good because we don't need to bring cash everytime.
Cashless society is not impossible to happen. But as what you can see in the streets, there are many street vendors or some small stores. There selling products with cheap prices, if they only accept bitcoins, the costumer will pay more because of the transaction fee. And another thing is if the government cooperates, cashless society might be happen.
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.
Cashless society is okay but how about other people, how about people are very poor, how they manage their life. 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.
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.
Thinking of this is something amazing. Soon in the future it will happened. And it is part of our new technology invented which could help to make our life easier. And we can say that being cashless which we can pay through onlines is much easier. 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.
As long as the money is privately created, a cashless society will give that one bank the control of all transactions.
I don’t think it will happen to my county being a cashless society. For me that right idea that cashless society and standard transaction. Now I can say that there are a lot of people using the credit card or debit card as payment. Here there are few stores or retailer even hotel and restaurant accept the bitcoin. I think it the reality there are some countries that in the process of cashless society or already cashless society. I conclude that in our country need more step to be a cashless system.
It looks like nightmare for me to live in cashless society. So any my payment or income may be traced by government, i would pay taxes for everything even for selling old bicycle or vinil disc.. I will not be able to buy food or water without electricity, I will be severely addicted to hardware which is expensive and may become broken. Besided I will be ordered to bring some type of smartfon anywhere with me in case I need to pay for something what makes anyone aware of my location
There are countries that prioritize cashless society, because it provides the ease of accessing as well gives a collective data of transactions which helps in taxation. Possibly in future can see more countries going cashless as technology has begun making changes.
We a need cash meanwhile there are few amenities offer or accept bitcoin. We have no choice we just need to use it the dealings are made hand-to-hand. Fiat currency has its influence and value and bitcoin also has its benefit and value. I also think we both need it in a different situation or paying our daily needs.
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