Cashless society - page 6. | Bitcointalksearch.org

paul gatt

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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

This can not happen. Society can not afford to have no money. Although there are many areas that can pay, transfer through bank, ATM or transfer to bitcoin account. But all living expenses are indispensable in daily life. That is very necessary, you go to a market you do not card with your bank card to pay for the seller of vegetables, selling fish, selling meat ... So life is indispensable cash.

setialovers

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I am believe that technology should be adapted. With technology, cashless society will more easy because with technology right now, we can transfer and doing transaction with people around the world instantly. Technology will helping people to reach their dream and helping people work more fast and secure

nebuch

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Cashless society wasn't clear in my mind right now because I see it tremendous problem at it's first welcome in the reality world. Changes of bank accounts can happen, changes of phones can happen, changes of identity can happen in first quarter is very challenging coz people around the world manage money of hands not on just a digital uses although we see it now that more people wants new ways of money on the banks and atm. People increase their care on how to make money safer from stealers. Possible that cashless will happen in the future if the people push it!

Izalcomax

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With e-commerce now is everywhere, i think we are going close to the cashless society now
We are all have the experiences with debit & credit card tho Grin

johnalyn

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Is it possible when government will agree of doing it in a country and can really happened when it is legalized it is also a good way of making it a cashless society for almost few years ago it can make some good opportunity to other people to know how better is a online currency works in a cashless society.

pinoyden

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Quote from: Mapagmahal on March 25, 2018, 01:43:08 AM

Having a cashless society is good but i don't think it will happen quickly in the following years. I wonder if some countries will accept it although some of the countries have cashless trasaction by using digital money like debit or credit card or any mode of payments that accept non cash transaction because in our country there are services than you can use to perform cashless payment. Your idea is great and maybe it will be implemented but not too soon and it's up to the government if they accept blockchain technology for payment system.

cashless society is now possible in majority of countries including also in my country because most business establishments here are now using a bitcoin in order to pay and receive money from other people. I find it verry amusing to witness this kind of inovation because bitcoin is indeed verry helpful and can always make our lifes more easier when compared to the usuall payment transaction that uses a money or cash. for sure fewer countries will also follow these improvements because this idea can greatly improve our economy.

jackky

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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

Cash has been around long before the arrival of modern digital coins and technology as we can now see the world is growing and nowadays the digital money has been significantly improved and may no longer be available in cash and replaced in full.

TitanGEL

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The cashless society will really happen if most of the people will prefer to use digital money than fiat money. If the bitcoin gained so much power, there is a big possibility that the bitcoin can replace the fiat money.

Mapagmahal

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Having a cashless society is good but i don't think it will happen quickly in the following years. I wonder if some countries will accept it although some of the countries have cashless trasaction by using digital money like debit or credit card or any mode of payments that accept non cash transaction because in our country there are services than you can use to perform cashless payment. Your idea is great and maybe it will be implemented but not too soon and it's up to the government if they accept blockchain technology for payment system.

Binugon

jr. member

Activity: 182

Merit: 1

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

which I think is actually a very fearful advancement, when there is no more physical money to pay, I think the country's physical currency will be lost and no value anymore, whereas the currency is the hallmark of every country

EnricoGomez

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It may be possible in the future but having a cashless society and using bitcoin as a replacement for paper money now may be quite impossible.
In using bitcoin, Internet and devices are needed of course - though it is guaranteed not everyone has them. Not all people ha s knowledge of bitcoin too or even the interest of learning what bitcoin is.

PalindromemordnilaP

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Quote from: Janinjo11 on March 22, 2018, 05:05:55 PM

This would be a dream. This is possible, but people are too much corrupted to accept this. There are too much greed and envy in the world. Nothing comes for free. If everything would be free we would have a cashless society.

This is surreal for me to think of it right now because there are still major drawbacks that bitcoin and the rest of cryptos should addressed before we can think of a cashless society. How are we going to use them if we are offline? How about the poor, the needy, and the less opportune? It's really hard to imagine how they can adapt the blockchain technology.

JohnWick_Bitcoin

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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

If different countries will accept bitcoins in their community then a cashless country might really happen in the future. There are different countries here in asia and not everyone of them are really accepting bitcoins so it will always depend on the government if they will legalize cryptocurrency or not.

tasrep

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With this card, the transaction gets faster and more accurate, plus is recorded automatically. Not only is practical use, electronic money also has an impact on economic rotation on a macro scale.

Eijrafarm

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Quote from: MMS2017 on March 23, 2018, 12:37:16 AM

Cashless society will be a problem for those who are not used to bitcoin and crypto even most of the people don't know the electronic money usage and most of the people are believe that crypto is not good for the future because it has no physical existence and other currencies like dollar people would like to use bitcoin instead of dollars and mostly the educated community come to this side.

Exactly, this is not an easy thing to implement since not all people do have knowledge in computer. It is hard to convince people who don't have knowledge in this matter. This could also be unfavorable to them.

Panchum

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Be Good to me!

I know one day we will live in a cashless society because digital money is much more too use now in any transactions as payments and other electronic transaction. That the whole world will unite for bitcoin as a world currency because bitcoin now serves a financial assistance as a source of income.

Blackmet

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I don't think taht people would live better without cash. People like when they can feel value and result of their work insteed on seeing numbers on screen.

Techie5879

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Back from the Dead!

Quote from: MMS2017 on March 23, 2018, 12:37:16 AM

Cashless society will be a problem for those who are not used to bitcoin and crypto even most of the people don't know the electronic money usage and most of the people are believe that crypto is not good for the future because it has no physical existence and other currencies like dollar people would like to use bitcoin instead of dollars and mostly the educated community come to this side.

Yes it will be a pretty huge problem for people who dont want to switch over, or retired people who arent familiar with modern things like cryptocurrency. Even people who havent had internet but are modern will have a hard time dealing with it, but still there is a huge way to go before this is even implemented, most developing countries are seriously lacking in infrastructure, and before a cashless society can be implemented, it has to be remedied soon. However, to fix the problems that people face, I think that the change should be more gradual, so as to allow people time to cope up and give them options while measuring out how stuff will work out for them, I would suggest not go ahead and force it on them, like India's government did with demonetization, and it brought a huge backlash along with it.

azguard2

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Quote from: Zekia1 on March 23, 2018, 03:42:39 AM

Many countries are beginning to apply cashless. Making paper money is very expensive, therefore many countries implement cashless system, I agree with the use of cashless, but must be considered also about transaction security, because it is a worry if our money is hacked or stolen

True many are starting this and some are so far in this that they rarely use cash. However this is only the beginning we have so many technological advanced in many fields so for society (some country) to become cashless. This will mostly be good for many reason but if we look many use more plastic then cash in everyday pay so this may be some first steps in cashless society.

Zekia1

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Many countries are beginning to apply cashless. Making paper money is very expensive, therefore many countries implement cashless system, I agree with the use of cashless, but must be considered also about transaction security, because it is a worry if our money is hacked or stolen

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