Cashless society - page 56. | Bitcointalksearch.org

azguard

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Quote from: szpalata on August 28, 2017, 07:50:22 PM

With all the advancements of the wirldcand technology I'm convinced we are going to have a cashless society somehow one day but as to the kind of technology and which era it will happen nobody can tell .

Yes maybe not in our lifetime but sure will be in cashless society in future. Technology progress very fast now with each passing day we have some new innovation in any field that can bring cashless society to be reality not just talks or concept at any point.

finzyoj

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Quote from: BingoDog on June 14, 2017, 01:32:26 PM

Many preconditions for cashless society have already been fulfilled but still it's not easy to transfer our finances just like that. Cashless society would make many things much easier but I think it's in human nature to love the cash and feel it in your hands so many of us wouldn't like to give up the cash.

Yeah your correct. Having a cashless society is wonderful. But it not too easy because there so many things to be considered and i know there so many possible arguments will be come about this. And also it is better to feel the cash when you have it than to just have it but you cant physically feel.

avikz

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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 is the future but not going to happen anytime soon. The society will have to go through a long reform process and the main bottleneck to that process is the politicians. They would not want anything that will make their property and cash visible to the public. They will prefer cash hordes instead of depositing it in to their bank account.

However, if the blockchain technology gets adopted by the government and creates a public ledger, it will go against the corrupt groups and have their black money reveled. It's easier said than done.

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Quote from: filharvey on August 26, 2017, 09:41:27 AM

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.Internet is not widely available every where.Even advanced countries like US still have not completely changed to cashless economy.So,it could not be made.

India is a 3rd world country.
It has places without electricity, without running water , without proper sewage and some part of the country are worse on basics than ancient Rome.

So by saying, well India has failed it can't be done is like throwing a cat in the air and saying... animals can't fly.

How about we talk with real countries which have real infrastructure already in place.
This is an old top from 2 years ago:

Rank   Country   Noncash Payments' Share Of Total Value Of Consumer Payments   % Of Population With A Debit Card
1   Belgium    93   86
2   France    92   69
3   Canada    90   88
4   United Kingdom    89   88
5   Sweden    89   96
6   Australia    86   79
7   The Netherlands    85   98
8   United States    80   72
9   Germany    76   88
10   South Korea    70   58

You still think cashless societies can't exist?
Then you are blind.

setupbounds

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Quote from: futile-resistance on August 28, 2017, 02:56:00 AM

Quote from: xMOPEx on August 22, 2017, 01:36:58 AM

Current fiat currencies are already digital-fiat in a way because most of the money is not backed by paper money notes but it is just a number on the bank's servers.

Our current societies now are cashless, and the government doesn’t need crypto currencies to make a cashless society. You can go cashless with currencies like dollar and euro, as far as your bank account is activated for online mobile banking. Lol, saying cashless sounds like being broke…lmao. Though that’s not we mean here.

Haha! Without holding cash in hands, we don’t get the real feeling of having some cash in our custody. Going cashless does sound like we are broke. Your perspective of cashless society is little different. Even if you are doing online banking, cash is there in your account whereas people here are discussing society where there is no existence of paper money at all.

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Quote from: okala on August 28, 2017, 02:40:05 PM

We may not get there now but I am very sure times is coming when we would live cashless society. Governments may not used bitcoin now but time is coming when many of them are going to adopt bitcoin and blockchain technology for the benefit of the world economic.

With the world ever evolving I have no doubt we are heading for a cashless society/world in future and in optimistic Bitcoin and cryptocurrencies are going to spearhead the way for this digital world/cashless society because of its ever increasing popularity and global acceptance.

szpalata

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With all the advancements of the wirldcand technology I'm convinced we are going to have a cashless society somehow one day but as to the kind of technology and which era it will happen nobody can tell .

okala

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We may not get there now but I am very sure times is coming when we would live cashless society. Governments may not used bitcoin now but time is coming when many of them are going to adopt bitcoin and blockchain technology for the benefit of the world economic.

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Quote from: Mpamaegbu on August 28, 2017, 02:20:47 PM

Quote from: panju1 on August 24, 2017, 12:36:25 AM

Quote from: UsernameBitcoin on August 23, 2017, 07:44:56 PM

A cashless society would not be possible for at least 100 years. Funny enough the last BTC will be mined in 2021 so maybe that is a sign?

Actually, the mining of the last BTC has no significance. It only ensures that miners have to look at transaction fees rather than block reward for their profits.
We don't need a full cashless society. Even if less than 1% of transactions are done through cash, it would serve the government's purpose.

Even after the last Bitcoin has been mined, it still defiles the logic of existence for there to truly be a cashless society in the real sense of that word "cashless" We have to take into cognizance the poor and wretched in the society at all time. This set of people won't come around using the credit cards and all that.

Bitcoin price keeps rising up without stopping. This will trigger that cashless society will be more cashless and they won't be able to buy bitcoins to increase their wealth. This is sad and unfortunate situation related to bitcoin.

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Quote from: panju1 on August 24, 2017, 12:36:25 AM

Quote from: UsernameBitcoin on August 23, 2017, 07:44:56 PM

A cashless society would not be possible for at least 100 years. Funny enough the last BTC will be mined in 2021 so maybe that is a sign?

Actually, the mining of the last BTC has no significance. It only ensures that miners have to look at transaction fees rather than block reward for their profits.
We don't need a full cashless society. Even if less than 1% of transactions are done through cash, it would serve the government's purpose.

Even after the last Bitcoin has been mined, it still defiles the logic of existence for there to truly be a cashless society in the real sense of that word "cashless" We have to take into cognizance the poor and wretched in the society at all time. This set of people won't come around using the credit cards and all that.

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Quote from: Abiky on August 28, 2017, 02:02:27 PM

Quote from: SirLancelot on August 26, 2017, 07:25:53 AM

Bitcoins are ideal for the cashless society again that is only possible in ideal world. Looking at things with realistic approach, we come to know that there are 3rd world countries and they are part of our society. Cashless society can be created only in the developed countries.

Yeah. Sadly, third world countries are always behind developed ones, making it difficult for them to adopt new technologies that will transform their society for the better. One great limitation to these countries, is that there is no internet access, or sometimes access to the same is very limited. With this, they won't be able to adopt Bitcoin and other cryptocurrencies quickly, making a cashless society far from becoming a reality.

However, this may be subject to change, as costs would become reduced over time, making technologies like the internet much cheaper for anyone to get access to. Perhaps, a company or startup in the future may help spread internet access to anyone in the world, to overcome the current limitations third world countries face. When this comes into effect, then people will start using cryptocurrencies more, driving them towards adopting a cashless society in the future.

With the recent interest from governments into blockchain technology, a cashless society come into effect in a couple of years from now. Just sharing my thoughts Grin

The fact is that using the banking system, And in the future the Internet system, we become dependent on something. The fact is that if we assume that in the distant future there will be some problem with electricity or access to the Internet, then what to do with our money in the crypto currency? It seems to me that in ancient times, when they were calculated for services with the help of gold or silver coins, it was much easier.

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Quote from: SirLancelot on August 26, 2017, 07:25:53 AM

Bitcoins are ideal for the cashless society again that is only possible in ideal world. Looking at things with realistic approach, we come to know that there are 3rd world countries and they are part of our society. Cashless society can be created only in the developed countries.

Yeah. Sadly, third world countries are always behind developed ones, making it difficult for them to adopt new technologies that will transform their society for the better. One great limitation to these countries, is that there is no internet access, or sometimes access to the same is very limited. With this, they won't be able to adopt Bitcoin and other cryptocurrencies quickly, making a cashless society far from becoming a reality.

However, this may be subject to change, as costs would become reduced over time, making technologies like the internet much cheaper for anyone to get access to. Perhaps, a company or startup in the future may help spread internet access to anyone in the world, to overcome the current limitations third world countries face. When this comes into effect, then people will start using cryptocurrencies more, driving them towards adopting a cashless society in the future.

With the recent interest from governments into blockchain technology, a cashless society come into effect in a couple of years from now. Just sharing my thoughts Grin

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Quote from: bubblebit on August 26, 2017, 10:50:23 AM

In the future, as I believe there won't be bitcoin when we're talking about 50 years or so from now. New cryptocurrency will emerge and replace bitcoin in its place but the Blockchain teachnology will remain. Why? When we point on generation as the big factor for every gen has tendency of being in satisfied for old ones. But don't worry much, as that generation will make a new one with more stable and with unlimited source not like bitcoin.

It will be introduced soon and the government of each country adapt to it more faster. Those cashless transactions will be possible at that phase of modern day living. Let just put this as my own predictions and opinion.

Oh please! Be realistic! Bitcoins are going to stay forever and we are going to see the latest and upgraded versions of the bitcoins. The bitcoin team is not dump, they are aware of the fact that people need new things to keep them interested in any particular things. Bitcoins are the legends and they will stay forever.

futile-resistance

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Quote from: xMOPEx on August 22, 2017, 01:36:58 AM

Current fiat currencies are already digital-fiat in a way because most of the money is not backed by paper money notes but it is just a number on the bank's servers.

Our current societies now are cashless, and the government doesn’t need crypto currencies to make a cashless society. You can go cashless with currencies like dollar and euro, as far as your bank account is activated for online mobile banking. Lol, saying cashless sounds like being broke…lmao. Though that’s not we mean here.

Vikingr

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Quote from: jostorres on August 26, 2017, 05:11:25 AM

Quote from: Palmerson on August 24, 2017, 05:21:34 AM

Quote from: gabmen on August 24, 2017, 05:12:59 AM

Quote from: Stingray1970 on August 24, 2017, 04:53:37 AM

I do not want to be under control of a government and for that reason I don't want cash to be abolished.

I think its quite the opposite dude. A cashless society run through crypto cannot be controlled by either governments or banks. The current fiat system is centralized and controlled so what youbwould want here is a system run through cryptocurrencies

So it must be in the ideal case. In fact, we see a completely different picture. People have turned bitcoin into a means of accumulation. It can kill any currency and if the situation does not change then we will see the collapse of the bubble in bitcoin which is converted.

Yes, this is the latest trend in the crypto market that people have started treating bitcoins as lifetime assets than as a currency which is very much unfair with newcomers. Bitcoins should be used in trading so that they keep circulating and people don’t lose interest in bitcoins.

This is how it is. Nobody cares for other’s opportunities. Everyone thinks about their income and yes, how can even they? They have invested from many years. People don’t want to use bitcoin. They just have made the profit and they want to save their in terms of bitcoin. They are not even wrong. This is how people get richer. Newcomers, in my opinion, will have to make their own way into this business as those people have made who are earning through btc.

doomloop

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Quote from: Rebisco on August 27, 2017, 01:53:29 AM

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 that the cashless society that we are imagining is will become true. We all know that the bitcoin has really potential and for sure most of the people in our society will accept the bitcoin as our daily payment.

This cashless society will be just possible in developed countries. Those countries that are already enjoying the perks of bitcoin trading and transactions can only imagine a complete digital society. The developing and under developed countries are far away from this thing. Besides I believe fiat and digital will work side by side in near future.

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I do not think that cash will disappear at all. There must be some alternative in case of a breakdown of electricity or the Internet. Cash will exist only in smaller quantities.

emezh10

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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

Probably, the creation of digital fiats can happen if and only if the technological factors affecting the type of currency will be put up into a higher level enabling many people to have a wide access to online fiat which can be in terms of cryptocurrency. What I mean is if the world with the collaboration of the national government will increase the capacity and capability of internet everyone can have an easy access if they will create digital fiat. But I think it will take time and too much work for the innovation of transforming the society into a cashless society because there are lots of issues to be cater than paying attention of putting the world into that innovative and advance world.

Rebisco

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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 that the cashless society that we are imagining is will become true. We all know that the bitcoin has really potential and for sure most of the people in our society will accept the bitcoin as our daily payment.

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Quote from: TastyChillySauce00 on July 14, 2017, 01:51:25 AM

Quote from: azguard on July 14, 2017, 01:30:02 AM

Quote from: Abiky on July 13, 2017, 09:05:48 AM

Well, recently the US began exploring the potential of blockchain technology, which may exist a possibility of the dollar having its own private blockchain in the future.

Besides US many other countries are developing or they are in process of developing private blockchains for there own currencies. This is bad in my opinion, cuz we already have good and working blockchain. I dont see anything that will trigger this to be in some bigger motion. Maybe they are trying to create cuz they can control it, cuz current one they can not, I mean on all governments on this.

They will stick with the current system, blockchain also have its disadvantages especially the scalability problem. I can say that if the whole US forced to use dollars based on blockchain system, there'll be many issue.
As you can see yourself to what happened to ETH and BTC after these traffics are on its peak.

The problem with a blockchain system is that it uses chronological system. You cannot transact simultaneously. Just try to imagine how many transaction are occuring everyday and your system is in chronological. It would take time before the last transaction would be encode in the ledger. You would need a very large hash power to achieve this kind of system in a country.

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