Topic: Cashless society - page 3. (Read 36273 times)
With so much technological advancements and people taking to tech so easily these days a cashless society isn't far behind. A lot of channels already make use of cashless services although paper money is still used more widely but that is because the older generation are still used to this cash based society. With the next generation I am fairly certain it would be a cashless society.
With the popularity of digital currency, people have a rich imagination about "cashless society". Even some businesses have attracted public attention with "no cash". But for the moment, cashless payments are just a change in payment methods, and the cash payment channels still have huge demand and meaning.
Cash will be always needed. Even those ones, who are fans of cryptocurrency will never survive now without paper money. Crypto and fiat should coexist.
Actually fiat currency is very helpful if someone wants to make a sudden transaction.But most residents in a country are not so familiar with bitcoin so they refuse if the original currency is replaced with various other currencies and if the government directly accepts the existence of bitcoin without making a careful consideration as a valid Transaction Tool will automatically cause a huge problem later on.
Problems can be caused not by the transactions themselves, but by the people who will use it, or in general old people and children, for whom the crypto currency will be difficult enough to refuse from crypto currency in favor of simple paper money.
Actually fiat currency is very helpful if someone wants to make a sudden transaction.But most residents in a country are not so familiar with bitcoin so they refuse if the original currency is replaced with various other currencies and if the government directly accepts the existence of bitcoin without making a careful consideration as a valid Transaction Tool will automatically cause a huge problem later on.
In life there will always be social differences, and this is certainly a good thing because in life there must be a balance, the difference just makes all life and needs can be fulfilled.
Cashless society is an interesting kind of concept because this will lessen our burden of keeping large amount of money. I mean, we don't need to carry physical form of money instead all transactions are done by our smartphone. But I think aiming this kind of possibilities needs a lot of experiment and more analysis because crypto still doesn't have a fixed value.
It's very easy to pay with digital currencies using your smartphone or tablet, rather than taking out your wallet and count the physical cash yourself. Being cashless, means that you'll never need to carry physical money with you, allowing you to make quick payments in a hassle-free way. As such, our world is slowly adapting towards becoming cashless in the future.
Right now, we use credit/debit cards for our everyday purchases which are cashless payment methods. But, they would cease to exist just like physical fiat, as digital currencies would be superior. Credit/debit cards can be stolen, while digital currencies (although they could be stolen/hacked too) are much secure than them. It's only a matter of time before governments start rolling in their digital currencies for the masses to use in the mainstream world. Perhaps, in the future, these digital fiat currencies would operate on individual private ledgers maintained by central banks, or within a universal ledger like Ripple.
Eventually, people would have to get used to cashless payments for a cashless society to become a reality in the future. Over time, the shift will take place from physical fiat, to digital currencies backed by governments worldwide. And we should be prepared for it. Just my thoughts
Impossibility can only be found in the dictionary of a fool. Although it may take longer time, but the fact of the matter is that cashless society is achievable but it may be gradual.
Cashless society is an interesting kind of concept because this will lessen our burden of keeping large amount of money. I mean, we don't need to carry physical form of money instead all transactions are done by our smartphone. But I think aiming this kind of possibilities needs a lot of experiment and more analysis because crypto still doesn't have a fixed value.
This is a new era. All transactions are no longer dependent on cash.
It is time people started switching from cash transactions to digital transactions.
As well as crypto that began in the community know little by little.
Agree. Like it or not, technology is shifting the way we handle everything in our life such as money, identities, properties, and more. Since cryptocurrencies has been on a rise recently, it shows that in the future we would all be subject to digital fiat currencies issued by central banks worldwide. The benefits provided by such a system would be too hard to ignore for any government in this world, especially if they want to enforce control over every citizen by being able to track every transaction made on their ledgers.
As such, we might say goodbye to physical fiat, as well as credit cards, since we would be able to pay for anything in the world via the use of digital currencies. It could be either by using implants or our everyday devices to make payments at a local store or retailer. The world is shifting towards this new era of information, and sooner or later, everything would be self-autonomous powered by AI and Blockchain technology. Digital currencies would be used as "GAS" for nearly anything you could think of from refueling (or recharging) your car, to seeking medical attention. As such we would pay any amount in digital currency (since they'll be used for micropayments) to use these services in a simple and hassle-free way without middleman.
Nevertheless, only time will tell if a cashless society would be introduced at a fast pace, or it would take its time before people get used to it. Just my opinion
The whole world has begun to pay attention to the underlying technology of blockchain, and the blockchain will make rapid progress in various fields, and its development will involve more aspects.
If blockchain technology is universal, it will be a cashless world.
If blockchain technology is universal, it will be a cashless world.
I think for now it is impossible, however if that should happen then it is altogether to change the world of three hundred and sixty degrees something difficult that can not be done in a short time, but who knows the future, if btc is legal it might happen , but I would agree that btc and cash will live side by side and complement each other as it is today
In my opinion, Bitcoin is not cashless even if society is cashless. Because Bitcoin is the online trade symbol of business. There is no corruption in which. That is, Bitcoin is always paid in cash.
impossible and I think it is impossible if life is a person without cash. if there is, it is only a small part. there are still many people who do not have accounts and in every transaction always rely on cash. so if you want to transact electronically I think still only in just wishful thinking.
Well for me it is very possible to see the cashless society because now cash is gradually eliminating and system is gradually turning to the digital system, people found to sue bitcoin more reliable than cash, it is very easy to carry a lot of bitcoin at the same time without any risk buy having allot of cash in your wallet at the same time can create risk for your life, as anyone can robe your money, but no one can take your bitcoin if you use bitcoin wallet to store your bitcoin for long time; at the time of need we can use it to buy all kind of goods.
With the popularity of digital currency, people have a rich imagination about "cashless society". Even some businesses have attracted public attention with "no cash". But for the moment, cashless payments are just a change in payment methods, and the cash payment channels still have huge demand and meaning.
If that would be the case, the world should have only one currency for the people to avoid miscaculations and not to confuse with prices. Its very feasible to have a cashless, but some might think that virtual money will be gone, of course not. By this we can escape from corruption on the government and be more futuristic, i always want that scenario.
I am very happy to interact with anonymity and decentralization. I do not want any changes in it. Bitcoin is fully decentralized and the government starts tracking blockchain activity, it will be worthless in a shorter time
impossible and I think it is impossible if life is a person without cash. if there is, it is only a small part. there are still many people who do not have accounts and in every transaction always rely on cash. so if you want to transact electronically I think still only in just wishful thinking.
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.
Its very hard to turn the whole world into a cashless society.In most of countries,many people still don't have a bank account and they don't even have a debit or credit card.They don't know any thing about digital transactions.They only know the paper money as real money which they could see and feel.Even indian government tried to make people shift to digital transactions by devaluing high value currencies,but of no use people just felt comfort in using paper currency itself.So,its hardly impossible at this time to create a cashless society.
It seems to me that the non cash society will never be, because banks will not want to lose profits and they will introduce bitcoin in parallel with money or simply destroy it like all 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.
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.
If bitcoin will promote to all the world and bitcoin will be powerful we will live in a cashless society for the convenience of everyone. Because bitcoin is easy to use in payments and other electronic transaction. If bitcoin will be useful to all the world we will live in a cashless society.
Inevitable, ready or unprepared, consciously or unconsciously, in all countries of any part of the world, we are actually leading into an era or era without cash and can turn to electronic or digital money like bitcoin in because it makes it easy for the masses to transact. The use of physical money (paper & metal) will be reduced and limited.
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