Cashless society - page 19. | Bitcointalksearch.org

reynilynedago

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Quote from: Abiky on June 14, 2017, 11:41:23 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

This make it possible if the government allows it ,and we live in advancement world we could follow other countries. But make sure a lot people educate about specially those people who doesnt know how to used computers .And other that that it gives help to everyone when it comes to transactions

Angna27

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It's a long way off before that happen, not until everyone, every country has the access to computer and when crypto currency and the government collide into one to become it official digital fiat currency worldwide, when that happen that's the only time people will use is in every way, all the time.

Brunus

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Rasputin Party Mansion

Of course it possible, but a cashless society - a decentralized one - will hit so many istitutionalized powers that you can bet that there is still a lot of path before its realization.

mx667

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Quote from: posoa on January 21, 2018, 04:57:09 PM

It is a possible idea to have a cashless society. It will have to start with public enlightenment as many people today are still yet to accept this norm.Many people refuse to even collect their Debit as well as their credit cards, because bank charges and lack of knowledge on how it is used. It will go a long way if the government help to implement this by ensuring that certain things are put in place for proper starting of this policy. Good electricity power supply, free internet access, functional ATM .. etc are all that must be put in place for cashless plan to be able to work effectively.

In my opinion, cashless systems could be done in big and modern countries. However I guess the cashless system can not be realized in the village and the various traditional places. Why ? Because not everyone understands and can use technology. Many people can not use a computer and do not have a smartphone. They are the poor people who live in the village and the simple environment. They will go to traditional markets to transact and shop. You understand what I mean right? The point is, cashless systems can be realized slowly in the city, but can not be realized in the village. And Cash and currency in physical form are still needed.

marzyyy

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This is feasible but not in near future. You need hardwares and infrastructures to implement this. Reliable internet is a must. Online payments relies on internet, and we all know that not every part of the world is covered, especially in the remote areas.

sister1001

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Quote from: Mike0222 on January 21, 2018, 08:23:48 AM

A cashless society is a poor society how can you spend your hard earn money if the society is cashless? some society in far places like in mountainous part or a remote village they use trading goods such as fish,veges,animal meat in exchage of rice. but now a days we have to use cash in order to buy things and what we need for our daily consumption in order to be alive.

I think you are missing the point. Cashless yes, but cryptoless not. Cryptos remove many of the inconveniences of cash and some structural problems like variable inflation.

ene1980

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Quote from: Semosuchi Tesongrato on January 21, 2018, 04:33:40 PM

Cashless society is very possible (actually, it existed for thousands of years...), but it depend if it will be a centralized or decentralized one.
A centralized one, as in the swedish experiment, will mean absolute control from government on any transaction.
A decentralized, that there is no central authority that control you.
One is slavery, the other is freedom.

You mean there was a cashless society thousand of years back,which history you are referring too,what ever any government comes up will be a centralized one and that is the only thing they can bring to have a control over it.Having a decentralized one is not that easy as it is hard to find a standard whether to understand it is truly decentralized or not.

hartadiningrat27

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yes but i think we still needed cash for something in any coutries that tech is still devalopment to pay a thing
but it would be grat to with technology like that so we don't need to aware in crimes

Dragon5

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Are we not inevitably going to a cashless society? However, it's going to take more time than expected, as 1\3 of Earth population (or even more) have not seen any digital device at all Shocked

posoa

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It is a possible idea to have a cashless society. It will have to start with public enlightenment as many people today are still yet to accept this norm.Many people refuse to even collect their Debit as well as their credit cards, because bank charges and lack of knowledge on how it is used. It will go a long way if the government help to implement this by ensuring that certain things are put in place for proper starting of this policy. Good electricity power supply, free internet access, functional ATM .. etc are all that must be put in place for cashless plan to be able to work effectively.

Semosuchi Tesongrato

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Cashless society is very possible (actually, it existed for thousands of years...), but it depend if it will be a centralized or decentralized one.
A centralized one, as in the swedish experiment, will mean absolute control from government on any transaction.
A decentralized, that there is no central authority that control you.
One is slavery, the other is freedom.

Harlot

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Activity: 1806

Merit: 672

Quote from: xuv500 on January 21, 2018, 08:34:23 AM

Cashless society is the concept of bitcoin actually. Not only bitcoin, all the altcoins (crypto currencies) concept is the same. There are advantages and disadvantages on all currencies like safety and usage, however, crypto also has the same like usage when internet is not there. The will be a option for this in future I believe and waiting for more options to come from crypto founders.

Well they are only taking advantage of the current technology we are having which is our mobile phones which pave way for the cryptocurrency to become a payment method but honestly speaking can we have a future of a cashless society? I mean look at our current situation Bitcoin the most popular cryptocurrency and the most expensive is not being accepted as a payment method as it has high transaction fees as well as slow confirmation speeds. Cryptocurrencies still need to improve overall if we are striving for a cashless society.

xuv500

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Cashless society is the concept of bitcoin actually. Not only bitcoin, all the altcoins (crypto currencies) concept is the same. There are advantages and disadvantages on all currencies like safety and usage, however, crypto also has the same like usage when internet is not there. The will be a option for this in future I believe and waiting for more options to come from crypto founders.

Mike0222

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A cashless society is a poor society how can you spend your hard earn money if the society is cashless? some society in far places like in mountainous part or a remote village they use trading goods such as fish,veges,animal meat in exchage of rice. but now a days we have to use cash in order to buy things and what we need for our daily consumption in order to be alive.

thecoder2017

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Maybe it will happen in the next 20 years i guess because we can't change paper money and switch on to digital currency in just a wink there a lot of processing to consider especially on poor countries who are not yet familiar with modern technologies and also we can't have transactions without internet.

ChardsElican28

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Quote from: Abiky on June 14, 2017, 11:41:23 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

There are many benefits to removing cash from the economy, such as eliminating black markets and allowing more easy monetary policy.Imagine a future where everything is seamlessly paid for via your phone. It’s a beautiful vision—with some dangerous unintended consequences.

douhancan58

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The cashless society has already begun in China.
People's clothing and food and clothing can be realized through "alipay", "WeChat" mobile payment!
Now go out as long as carry the smart phone with network can realize pay!
Only BTC is banned in China. If BTC is legal in China, no cash society can be realized!

litolmarauder16

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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.

MrRiuss

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i dont think in this near year, the world will become cashless society. there are still a lot of country still need and use a real money. cashless need internet for online, and we know that, there are many citizen in many country that still not using internet every day

jets567

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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.

Topic: Cashless society - page 19. (Read 36273 times)