Cashless society - page 41. | Bitcointalksearch.org

frmracc

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Quote from: stomachgrowls on October 21, 2017, 10:54:29 AM

Quote from: pieppiep on October 21, 2017, 10:48:45 AM

Even if people are not using bitcoins or not aware about bitcoins we are heading towards cashless society where people prefer to pay with debit/credit cards at a moment and when they will come to know about bitcoins I am sure many people will start using bitcoins for making payments.

Theres a possibility since we are evolving when it comes into technology when there would really be a point on where theres a proposal for such cashless society which would decide up to make things digitalized specially on monetary system. People will surely be forced to adopt it because government do really require but i would say this kind of adjustment would really takes time since not all people do really have the knowledge on such digitalize things.

We are go to that era though, cashless society. Maybe it will takes 5-20 more years to become cashless society. Big country like japan and south korea who have a good technology will become the first country that not use any paper/coin money and USA too of course.

stomachgrowls

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Quote from: pieppiep on October 21, 2017, 10:48:45 AM

Even if people are not using bitcoins or not aware about bitcoins we are heading towards cashless society where people prefer to pay with debit/credit cards at a moment and when they will come to know about bitcoins I am sure many people will start using bitcoins for making payments.

Theres a possibility since we are evolving when it comes into technology when there would really be a point on where theres a proposal for such cashless society which would decide up to make things digitalized specially on monetary system. People will surely be forced to adopt it because government do really require but i would say this kind of adjustment would really takes time since not all people do really have the knowledge on such digitalize things.

pieppiep

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Even if people are not using bitcoins or not aware about bitcoins we are heading towards cashless society where people prefer to pay with debit/credit cards at a moment and when they will come to know about bitcoins I am sure many people will start using bitcoins for making payments.

Pixyoxx

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I think the theory of co-existence will work in future. Governments will also have their own digital platforms, along with pre-existing ones. Bitcoins wont be ignored because it has large user base which cannot be set aside. Thus digital currency will co exist in association to decentralized as well as public owned currencies.

izumaki

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this would be a very promising move if our society evolved to a stage and situation where we can no longer depend on physical cash to do any form of transactions, the problem is if we Are already evolved into that phase in our lives.

Allan Ramanda

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Quote from: pendekar cinta on October 19, 2017, 05:26:31 PM

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

may be at any time will be realized it but some residents will accept it including people who know about bitcoin transaction systems while the layman must have specifications to keep using official money from a country in conducting a series of transaction activities.

I agree with you, everything can happen, but it takes a very long time, because not all people who understand the digital world, coupled with the government that can not control bitcoin completely

SixOfFive

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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.

stackholio

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We are still a long ways away from a cashless society (minimum 10 years in the United States, much much longer globally) in my opinion. We are well on our way but many many industries still rely on cash (the service industry especially). There needs to be an incredibly strong initiative to pay digitally/with crypto and the ability to acquire digital cash should be seamless. TenX is a good start to this but there's a lot more work to be done in terms of onboarding.

pendekar cinta

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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

may be at any time will be realized it but some residents will accept it including people who know about bitcoin transaction systems while the layman must have specifications to keep using official money from a country in conducting a series of transaction activities.

Deathgamer

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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,in my own point of view its bettee to habe a cashless society because it will lessen the crime in hold up and other criminal cases that involves money.in a cashless society i think all your bills can be paid to online or through credit or debit cards and i think it is really better than bringing money for shopping because it is more convenient for me.

swetka

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Quote from: santino11 on October 19, 2017, 02:32:38 PM

this will happen sooner or later ! we can feel the process anow and in just few years more this will be on 100% true and nothing can stop it ! FIAT will be FIAt but the main cuurrency will be crypto

in relation to the fact that the main currency will be a crypto currency, you can argue a little, because most people will not be able to use the digital currency. The fact is that this requires not only knowledge but also education. And also you understand that the lack of availability of certain technical means, carries the difficulty for using crypto currency. Therefore, bitcoin or other alternative coins will be used only in certain circles and in a certain sphere, while the fiat will be in its place.

santino11

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this will happen sooner or later ! we can feel the process anow and in just few years more this will be on 100% true and nothing can stop it ! FIAT will be FIAt but the main cuurrency will be crypto

kimochidesh

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I don't think there would totally cashless society for at least 2050. A lot of people who are still not aware of banking facilities and don't know how to use these banking services. Backward countries don't have internet facilities so being cashless is totally meaningless for them.
Cashless and BITCOIN are a totally different concept as one is centralized and other is decentralized. People are using BTC not just being digital but due to features like the privacy of transaction.

Geeta1207

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I do believe that cryptocurrency will coexist with that of the digital currency but I cannot see this happening in the near future as so kany people don't even know about cryptocurrencies at the moment.

d.mas

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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

Usage of Bitcoins will lead to a cashless society in the near future and it will be the greatest part of the cashless society

Shenzou

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We are already in a cashless society, i mean practicly all people use credit card now and all poeple use online transaction wether for shopping work or even food, we don't have the need to put paper money in our wallet again every thing has become digital, but what this has to do with bitcoin is that it is an alternative way for the same thing but more practical and more safer to use, so now when you use your money or bitcoin to buy stuff on any site you don't have to be afraid that you are going to get hacked or none of the security probelms, in fact some of the main stream sites are already adding bitcoin to thier payment methods, and this encourages more and more poeple to get involved in bitcoin and thus making the worl more and more cashless.

ekoice

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I think that cashless society is far away from reality.Even most developed countries like US has not implemented it and still allow paper currencies in circulation.Unless,illiterate people are there,cashless society is not possible.Even the older generation people too face difficulties in using digital transactions.Cashless society could not be brought in to action in countries where internet is not widely available.

Even in india,it was tried by the present government to bring cashless society and it just failed and also,it totally made indian economy to collapse.Even the GDP rate has gone down from 7% to just 5.6%.It has become a great lesson for other countries.

crazykill182

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I think that it will be possible but theres some poor society which cant afford this kind of evolution.
As current flat currency dont change its value within a society its better for them to used it and it can also use it to pay for some small payments. While also using a digital currency can be good to process without having a physical money, nobody knows how much you have except if they saw the current amount you have, you are much less target for robbery.

Fatanut

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Quote from: West0813 on October 19, 2017, 09:41:38 AM

I don't think this will happen. We need gadget in order to make transaction to others. But how can the poorest of the poor can buy a gadget to use if they cannot even buy their foods.

I don't think you have to think about them at all. In every upgrade in the trend, there will be people lagging behind. They can't buy foods, then they have to work on that first before they buy a smartphone, right? Right now, we all have iPhones or some flagship Samsung phones, but if you take a look around, there are still people using fake phones from China or a basic phone that has a keypad and don't even have a camera. Even if they can afford food, they probably are not going to spend money on a smartphone just so they can join the cashless society. But that's just in third world countries. In first world countries, even homeless people have smartphones. It's only a normal thing to them to have a good smartphone because of their economy. They already evolved a lot more than other countries. I think that cashless society will happen first in first world countries and then the world will become 100% cashless once the third world people arrive to the point when standard phones aren't used by people anymore.

gyu22

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I have imagined the world's economy as a cashless society and I agree it will be possible in the foreable future, but I do not share your thoughts about the advantages in reducing crime. Crime will find other means to abuse people. On the other hand, the absolute control by of digital fiat currencies manages by governments makes me scared, especially if citizens have to bear implants. Hopefully, if digital fiat emerges people will use altcoins to try to be free and trade honestly.

Topic: Cashless society - page 41. (Read 36284 times)