Cashless society - page 45. | Bitcointalksearch.org

no0dlepunk

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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

I remember back when I was a kid, there was some sort of news that was spread over the internet (that was around 1995 i guess), and it was about the world going cashless - the news even referred to it as the "666". It was wierd, and honestly I'm not buying it until now. Going cashless is such a gift to mankind, I don't think it was made by the devil. ha ha! Anyway, cashless society will bring good to every human being, there would be no room for thieves (just hackers) lol.

palensya

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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

It would probably happen in the future but we cannot predict and determine when will cashless society will occur. It is depend on the country and its people if they are open with the concept of cashless society. For sure it would go through lots of arguement before it could finally materialize.

loreykyutt05

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Quote from: SM23031997 on October 07, 2017, 06:36:25 PM

Making a cashless society is the long-term goal of every country to make it's country cashless and paperless, maybe bitcoin help them to achieve this goal faster as it has everything if they allow it's existence as a currency. If they are able to control its anonymous transactions, which they can, then bitcoin could be the future currency of the world and not only for a particular country.

There is still a long road to go before a country can provide a cashless society imagine how much the government can save if there is no need to print papers when making money I also dream of that society that I dont have to bring cash anymore just a card or phone will do , well it was already implemented now but just on a certain location I dream that in every place or stores that I went to I can have a cashless transaction

banut

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The revolution of digimoney is already started it is growing day by day so max of cashless society it possible very near in future.

creative~mind

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It would be a chaos, but people would not accept it anyway. It's kind of too late to implement something like this. You can not go to people and say that something they are holding and working for is worthless.

At the end of the day, people would also realize that it's just another attempt by banks to take control over society.

lazaruseffect11

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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

I think this idea will only be happen to those rich and middles class people. They have the capaility to use bitcoin and the things that will be used to earn it. They are only those people who have the idea of bitcoin. Those poor people cannot cope up with this kind of idea because they dont even have any idea what bitcoin is.

Xylber

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As long as the money is privately created, a cashless society will give that one bank the control of all transactions.

SM23031997

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Making a cashless society is the long-term goal of every country to make it's country cashless and paperless, maybe bitcoin help them to achieve this goal faster as it has everything if they allow it's existence as a currency. If they are able to control its anonymous transactions, which they can, then bitcoin could be the future currency of the world and not only for a particular country.

PacePay

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Quote from: Michaelsch on October 05, 2017, 08:58:09 PM

First of all, I think modern society in developed countries already cashless (people use credit cards most of the times)... but other than that I would add that I believe finally even fiat will have digital analog and we will not see paper money anymore

It is really very difficult to see the cashless society. Reason being still there are so many people who believe in paper money and they actually don’t know about this concept of digital money. This might be possible that the usage of paper money in the coming days will be reduced but it cannot be eliminated entirely from the society. It has no doubt its own place.

Przemax

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Cashless society will seem a good idea, until it will cause a lot of grief upon the people involved in not having the access on the money in their bank accounts.

It is best to be prepared in to anything, rather then suffer later.

xianbits

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Quote from: stepwilli on October 07, 2017, 02:34:31 AM

Quote from: Potato Chips on October 02, 2017, 12:06:48 PM

Quote from: musharaf on October 02, 2017, 12:28:38 AM

To bring change in society its take decades to happen that changes into real.
Cashless society will cause many problems in society and which can’t be handled. Still and still paper money will be needed.

yah it will take longer as the world and the people needs to change. they will just switch to cashless or electronic money to be more precise if it becomes a necessity? ii think it'll

become one if all countries technology improves to the point where almost everyone owns a certain gadegt, almost all living needs depends on it and of course a world wide free

internet. and in my opinion its too far from now. regarding criminal activities that op mentioned, for them to monitor our money, the coin needs to be centralized so maybe

bitcoin is not an option anymore?

In fact a society without any physical money will create so many problems. A lot of old people who are unfamiliar with the concept of digital currencies and their uses, they still think that cryptos are just a scam or a fraud that’s why they refuse to accept this virtual currency so there will always be need of physical currency i.e. we can never have a cashless society.

I think that's a too personal view. I don't think it will be hard for them though they can't learn using it in one day. And I think they will not call it a scam or fraud because they already have the evidence in their eyes.

stepwilli

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Quote from: Potato Chips on October 02, 2017, 12:06:48 PM

Quote from: musharaf on October 02, 2017, 12:28:38 AM

To bring change in society its take decades to happen that changes into real.
Cashless society will cause many problems in society and which can’t be handled. Still and still paper money will be needed.

yah it will take longer as the world and the people needs to change. they will just switch to cashless or electronic money to be more precise if it becomes a necessity? ii think it'll

become one if all countries technology improves to the point where almost everyone owns a certain gadegt, almost all living needs depends on it and of course a world wide free

internet. and in my opinion its too far from now. regarding criminal activities that op mentioned, for them to monitor our money, the coin needs to be centralized so maybe

bitcoin is not an option anymore?

In fact a society without any physical money will create so many problems. A lot of old people who are unfamiliar with the concept of digital currencies and their uses, they still think that cryptos are just a scam or a fraud that’s why they refuse to accept this virtual currency so there will always be need of physical currency i.e. we can never have a cashless society.

azguard

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Quote from: glowing10 on October 06, 2017, 02:13:44 PM

Quote from: Yarskdave on October 06, 2017, 12:57:05 PM

cashless society is a safe society, there will be reduced crime rate and our savings will grow which will lead to stable economy.
it will also help the economy or the authority to monitor all financial transaction that will be carried out within the country.

Its going to be a digital world in coming time and cypto currencies can play a major role in expanding this horizon. As payment can be done from part of the world to another in less than 15 minutes and with reasonable or less fess this makes the beauty of such currencies and in coming time it would be more of a cashless society as everything would be done though online mode.

True one of the good sides with dealing crypto is low fess on no matter how big or small the amount was.
True is also that are are in digital and very technological era, everything is done online, with our phones, tablets, or laptops. We are more in movement now and we dont have much time to wait in bank. We pay and but online, so from this perspective I personally would like to see some crypto take over internet payment to be unique currency for maybe amazon or ebay.

0t3p0t

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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

That sounds be pretty good to me. Muggers with no knowledge about digital currencies would take time for them or even hard for them to guess if we have some Bitcoins. Criminalities would lessen because I know that government will regulate local exchanges so they can monitor each and every person who are trying to make transactions which needs an account with full information on it to be able to withdraw cash. But We all know that governments want to control everything, they wanted to create their own digital money under blockchain technology but I am still hoping that there should only be one that will be used by the world and that is no other than Bitcoin. I know that Bitcoin will still dominate in the future and there will be no other coin to surpass in terms of volume in popularity, usage and community.

liseff3

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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

People without money, all of that could happen if the whole government is willing to participate and think smartly in developing Kriptocurrencie.
The government does not see a significant difference,

Printed banknotes cost a fortune, bitcoin doesn`t cost much.
Banknotes are vulnerable to criminal acts, while bitcoins are safe, in fact there are many other differences.

If the government were to participate in the development of Kriptocurrencie, I would be pessimistic because they developed not the existing Cryptocurrencie (bitcoin) or altcoin, but instead created the new Cryptocurrencie imposed in its country.

adzino

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Quote from: Sasuke102001 on October 05, 2017, 11:24:14 PM

For a total cashless society all must have access to the internet for the flow of crypto currencies and transfer of the crypto currencies from person to person. I think for providing free internet access to each and every person on planet Earth the government could show up but theb the government would start taking taxes from every transaction. The main point is still there is a very long way for us to go to even think of a total cashless society.

3rd world country can not even feed their people, let alond providing free access to every person in the country. When other country goes cashless, it will badly affect countries that have to access to the internet. They mind suffer to an extent that they won't be existing any more.

unbotak

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Quote from: glowing10 on October 06, 2017, 02:13:44 PM

Quote from: Yarskdave on October 06, 2017, 12:57:05 PM

cashless society is a safe society, there will be reduced crime rate and our savings will grow which will lead to stable economy.
it will also help the economy or the authority to monitor all financial transaction that will be carried out within the country.

Its going to be a digital world in coming time and cypto currencies can play a major role in expanding this horizon. As payment can be done from part of the world to another in less than 15 minutes and with reasonable or less fess this makes the beauty of such currencies and in coming time it would be more of a cashless society as everything would be done though online mode.

Online currency is able to minimize the crime rate that will happen, crypto currency can reduce many things become simpler, but there is one thing required, there must be many manufacturers to accommodate the internet, and if the world currency has switched to digital then emerging competition unreasonable prices from internet providers.

wRex

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Quote from: bouren on June 14, 2017, 10:47:50 AM

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.

I agreed with this opinion, not because already show up in the movies, nowadays has begun with cashless transaction, we can see many transaction done by EDC (Electronic Data Capture), the device that empowers merchants to accept and process card transactions via credit and debit cards.
Meaning 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. I explain little bit about cashless society, maybe someone here not known it. Such a concept has been discussed widely, particularly because the world is experiencing a rapid and increasing use of digital methods of recording, managing, and exchanging money in commerce, investment and daily life in many parts of the world, and transactions which would historically have been undertaken with cash are often now undertaken electronically.
So i believe someday all of us will not use any physic money. We can save more our Ecosystem for our next generation.

ged00u

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Quote from: Yarskdave on October 06, 2017, 12:57:05 PM

cashless society is a safe society, there will be reduced crime rate and our savings will grow which will lead to stable economy.
it will also help the economy or the authority to monitor all financial transaction that will be carried out within the country.

I agree. People will be equal to each other and there will be no property and people will not kill each other for money and cash anymore

glowing10

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Quote from: Yarskdave on October 06, 2017, 12:57:05 PM

cashless society is a safe society, there will be reduced crime rate and our savings will grow which will lead to stable economy.
it will also help the economy or the authority to monitor all financial transaction that will be carried out within the country.

Its going to be a digital world in coming time and cypto currencies can play a major role in expanding this horizon. As payment can be done from part of the world to another in less than 15 minutes and with reasonable or less fess this makes the beauty of such currencies and in coming time it would be more of a cashless society as everything would be done though online mode.

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