Cashless society - page 67. | Bitcointalksearch.org

roomfirst

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Quote from: The_Dark_Knight on August 07, 2017, 09:22:34 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

We are moving towards that direction but I do not think it is ever going to be achieved, there are too many impediments, many people like me do not like the idea of a completely cashless society, also that movement is lead to try to control you more effectively but now that bitcoin has appeared that system of control is going to be a lost less effective.

It might works on some big country like USA, Korea and Japan but i'm not sure for other countries. Cashless society is our future and we can't deny it, especially our technology is always upgrade and our life will follow it, maybe our next generation will start using cashless society.

Ayiranorea

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Being a cashless society is simply hard, but if it's created then the ease in tracking and all other things happen and each and every user will be under the eyes of the government which is a major flaw in cashless society. Also this suits the less populated countries rather than the densely populated nation, because to go cashless everyone needs certain amount of knowledge. With little population somehow they can be taught which is quiet impossible with the highly populated nations.

The_Dark_Knight

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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

We are moving towards that direction but I do not think it is ever going to be achieved, there are too many impediments, many people like me do not like the idea of a completely cashless society, also that movement is lead to try to control you more effectively but now that bitcoin has appeared that system of control is going to be a lost less effective.

bitbob82

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Quote from: AmiranAbdul on August 07, 2017, 08:06:45 AM

I think this will never happen, because in the event of a power failure or the Internet, the whole world will remain without the ability to make purchases. Paper money will always be an alternative.
[/quote
i think this is possible but in very future when bitcoin will become so much popular that everyone start using it. i think when we will become able to use bitcoin for everything for which we are using our local currency. only the i think cashless society is possible.

TechnoMusic

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I think that future for street beggers will be a really bad future and I a really sorry for that but I think when we create enought smart robots that nobody will not need to work,everybody will have wage from robot work and everbody will be able to have robot cleaner and we will buy stuffs with btc but first some mans will decrease number of pupil in the world.

virtualkeybuyer

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Quote from: darthmaul on August 07, 2017, 09:12:41 AM

Quote from: doomloop on August 06, 2017, 12:06:15 AM

Quote from: Come on! on August 04, 2017, 10:06:59 AM

Cashless society means, everything is done electronically. For now its not possible, but may be in the future.
Its risky knowing that there are lots of hackers around you. Snatchers and robbers will decrease but online hackers may increase.

Yep! Cashless society will absolutely promote hacking. I believe that electronic money should be used side by side with paper money. That would make a better society to live in. Cashless society is not possible practically. Many people are going to oppose this idea because of too many risks.

You are just explaining the society in which we are currently living in. Tell me what's so better in current society? The paper money increase the denomination of currency due to unwanted supply of it and improper use of it. So much black money is stolen from the government taxes which leads to devaluation of money. There are countries where trillions of dollars are lost due to money laundering as well as keeping the money into cash form hidden from the government.

This puts big load on financial institutions to print more money which not worth it. On the other hand if you keep everything online, cashless then every bit of cent can be tracked down. This is useful for us as government will not incur more charges on us. Think from the brighter future perspective.

I am also in the favor of cashless society since it will put a full stop on so many frauds such as money laundering etc. Definitely with a digital system government will be totally aware of every single penny and it would be possible for them to trace that money. Cashless society has fewer chances of crimes as compared to the current situation of the society.

azguard

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Quote from: Abiky on August 07, 2017, 08:53:17 AM

Quote from: Decoded on August 04, 2017, 04:16:56 PM

A good point is that you may not even need internet to transact bitcoin. Maybe if you have the weakest of signals, that's all you need to verify a private key's balance. I think in the future, infrastructure will be much better and internet connectivity will be extremely fast, stable and available.

There is no doubt that the internet is a game changer. It is still changing our ways of life now.

I believe so too. Technology is improving every single day of our lives, helping our society grow for the better. With this in mind, I'm sure that the internet will become improved and expanded to areas of the world where it lacks the infrastructure, so that people within those regions can get a grasp of this technology.

Once this becomes achieved, then the only thing remaining would be to educate the masses about cryptocurrency use, to help bring forward a cashless society. As governments explore the technology underlying cryptocurrencies, this may not be far from becoming a reality soon.

The world will be empowered by automation, smart contracts, and improved financial settlement and security, with the blockchain all within a cashless society worldwide. Just my opinion

For technology this is correct every day we have something new and unique and in some way something that will ease our life in future years. Watches some documentary on discovery channel and they predict that by year 2020 we will have one thing for everything to be our smart solution. One device that will be our phone, PC, TV and car navigation.

So who know what will we expect in this 3 years from now. Maybe will be paying with our mind.

darthmaul

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Quote from: doomloop on August 06, 2017, 12:06:15 AM

Quote from: Come on! on August 04, 2017, 10:06:59 AM

Cashless society means, everything is done electronically. For now its not possible, but may be in the future.
Its risky knowing that there are lots of hackers around you. Snatchers and robbers will decrease but online hackers may increase.

Yep! Cashless society will absolutely promote hacking. I believe that electronic money should be used side by side with paper money. That would make a better society to live in. Cashless society is not possible practically. Many people are going to oppose this idea because of too many risks.

You are just explaining the society in which we are currently living in. Tell me what's so better in current society? The paper money increase the denomination of currency due to unwanted supply of it and improper use of it. So much black money is stolen from the government taxes which leads to devaluation of money. There are countries where trillions of dollars are lost due to money laundering as well as keeping the money into cash form hidden from the government.

This puts big load on financial institutions to print more money which not worth it. On the other hand if you keep everything online, cashless then every bit of cent can be tracked down. This is useful for us as government will not incur more charges on us. Think from the brighter future perspective.

Abiky

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Quote from: Decoded on August 04, 2017, 04:16:56 PM

A good point is that you may not even need internet to transact bitcoin. Maybe if you have the weakest of signals, that's all you need to verify a private key's balance. I think in the future, infrastructure will be much better and internet connectivity will be extremely fast, stable and available.

There is no doubt that the internet is a game changer. It is still changing our ways of life now.

I believe so too. Technology is improving every single day of our lives, helping our society grow for the better. With this in mind, I'm sure that the internet will become improved and expanded to areas of the world where it lacks the infrastructure, so that people within those regions can get a grasp of this technology.

Once this becomes achieved, then the only thing remaining would be to educate the masses about cryptocurrency use, to help bring forward a cashless society. As governments explore the technology underlying cryptocurrencies, this may not be far from becoming a reality soon.

The world will be empowered by automation, smart contracts, and improved financial settlement and security, with the blockchain all within a cashless society worldwide. Just my opinion

AmiranAbdul

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I think this will never happen, because in the event of a power failure or the Internet, the whole world will remain without the ability to make purchases. Paper money will always be an alternative.

pugman

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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

Interesting thing it is truly. Don't have to carry heavy bags of cash when you have to pay a big amount or deposit money for any purpose. It would take a few years for that to be implemented but still it's worth the wait. Crypto currency will dominate if gold gets extinct and fiat won't be able to do anything.

deppil

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Quote from: doomloop on August 06, 2017, 12:06:15 AM

Quote from: Come on! on August 04, 2017, 10:06:59 AM

Cashless society means, everything is done electronically. For now its not possible, but may be in the future.
Its risky knowing that there are lots of hackers around you. Snatchers and robbers will decrease but online hackers may increase.

Yep! Cashless society will absolutely promote hacking. I believe that electronic money should be used side by side with paper money. That would make a better society to live in. Cashless society is not possible practically. Many people are going to oppose this idea because of too many risks.

Nope I think the risk will be lower than using cash money, thief is very easy to steal money in your wallet cash, they just need to press you and ask for your wallet, but using the digital currency will be safer, in fact using bitcoin with 2fa added, Ever get hacking?

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Quote from: ModGirl on August 06, 2017, 03:00:06 PM

Quote from: galestorm on August 06, 2017, 08:06:46 AM

Well it is possible for that to happen especially when the government starts to acknowledge the idea of a cashless society but im concerned of the possibility that hackers might force themselves in our personal wallet, stealing large amounts of money that we have in store. And i dont think it will be easy to implement such an idea considering that there are still some that are not that proficient in using technology and things that are involved with digital platforms.

We can’t totally let our society go cashless. We can use digital currencies along with conventional ones to enjoy the benefits of both. Many people are unaware of this currency and won’t allow letting go their traditional currencies. It will really give governments’ tough time to implement the idea of the cashless society.
[/quote

Yes correct man cant totally let our society go cashles .bitcoin is also known as digital currency .wont allow there to traditional currency.Bitcoin price is keep on increasing and It will replace the entire cash system on one day.It will replace dollar first.

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Quote from: galestorm on August 06, 2017, 08:06:46 AM

Well it is possible for that to happen especially when the government starts to acknowledge the idea of a cashless society but im concerned of the possibility that hackers might force themselves in our personal wallet, stealing large amounts of money that we have in store. And i dont think it will be easy to implement such an idea considering that there are still some that are not that proficient in using technology and things that are involved with digital platforms.

We can’t totally let our society go cashless. We can use digital currencies along with conventional ones to enjoy the benefits of both. Many people are unaware of this currency and won’t allow letting go their traditional currencies. It will really give governments’ tough time to implement the idea of the cashless society.

nidacoinlove

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Quote from: azguard on August 06, 2017, 01:27:20 PM

Quote from: exstasie on August 06, 2017, 02:03:20 AM

Quote from: doomloop on August 06, 2017, 12:06:15 AM

Quote from: Come on! on August 04, 2017, 10:06:59 AM

Cashless society means, everything is done electronically. For now its not possible, but may be in the future.
Its risky knowing that there are lots of hackers around you. Snatchers and robbers will decrease but online hackers may increase.

Yep! Cashless society will absolutely promote hacking. I believe that electronic money should be used side by side with paper money. That would make a better society to live in. Cashless society is not possible practically. Many people are going to oppose this idea because of too many risks.

We're already largely there. Most people I know don't carry much cash, if any at all. Nobody I know uses change (coins) at all. Most people (except for day laborers and field hands getting paid in cash) use credit and debit cards instead of cash now, and I've read that some European countries (like Sweden) are aiming to eventually phase out cash entirely. Further, from Applepay to Paypal to Venmo, paying with one's smartphone is becoming the norm. Smartphone apps like Uber are plugged right into your cards. As I see it, a cashless society is not only practical, but it's where we are heading.

Its ok that most users here dont use or carry much cash we prefers more card and that is cashless. For the moment we are going in that direction more and more is done with card or payed online but still we have some part of this world that is not effect by this in any way. I mean they dont use card and they didnt hear about bitcoin. So for next year that are ahead of us we will be more and more to fully cashless society at least in part of the world where is possible.

If we talk about some specific region then I think it may be possible but in a broad perspective I don't think it is gonna happen that we will see the world cashless. There are many places in the world where technology or the latest technology have not reached yet, so it will be injustice if we exempt those from our list of society. Also there is a possibility when sometimes the banks link is down and then we face problems when making a transaction. So we need to carry cash most of the time. However the quantity may be less than that of the past but still cash is a need.

azguard

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Quote from: exstasie on August 06, 2017, 02:03:20 AM

Quote from: doomloop on August 06, 2017, 12:06:15 AM

Quote from: Come on! on August 04, 2017, 10:06:59 AM

Cashless society means, everything is done electronically. For now its not possible, but may be in the future.
Its risky knowing that there are lots of hackers around you. Snatchers and robbers will decrease but online hackers may increase.

Yep! Cashless society will absolutely promote hacking. I believe that electronic money should be used side by side with paper money. That would make a better society to live in. Cashless society is not possible practically. Many people are going to oppose this idea because of too many risks.

We're already largely there. Most people I know don't carry much cash, if any at all. Nobody I know uses change (coins) at all. Most people (except for day laborers and field hands getting paid in cash) use credit and debit cards instead of cash now, and I've read that some European countries (like Sweden) are aiming to eventually phase out cash entirely. Further, from Applepay to Paypal to Venmo, paying with one's smartphone is becoming the norm. Smartphone apps like Uber are plugged right into your cards. As I see it, a cashless society is not only practical, but it's where we are heading.

Its ok that most users here dont use or carry much cash we prefers more card and that is cashless. For the moment we are going in that direction more and more is done with card or payed online but still we have some part of this world that is not effect by this in any way. I mean they dont use card and they didnt hear about bitcoin. So for next year that are ahead of us we will be more and more to fully cashless society at least in part of the world where is possible.

galestorm

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Well it is possible for that to happen especially when the government starts to acknowledge the idea of a cashless society but im concerned of the possibility that hackers might force themselves in our personal wallet, stealing large amounts of money that we have in store. And i dont think it will be easy to implement such an idea considering that there are still some that are not that proficient in using technology and things that are involved with digital platforms.

exstasie

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Quote from: doomloop on August 06, 2017, 12:06:15 AM

Quote from: Come on! on August 04, 2017, 10:06:59 AM

Cashless society means, everything is done electronically. For now its not possible, but may be in the future.
Its risky knowing that there are lots of hackers around you. Snatchers and robbers will decrease but online hackers may increase.

Yep! Cashless society will absolutely promote hacking. I believe that electronic money should be used side by side with paper money. That would make a better society to live in. Cashless society is not possible practically. Many people are going to oppose this idea because of too many risks.

We're already largely there. Most people I know don't carry much cash, if any at all. Nobody I know uses change (coins) at all. Most people (except for day laborers and field hands getting paid in cash) use credit and debit cards instead of cash now, and I've read that some European countries (like Sweden) are aiming to eventually phase out cash entirely. Further, from Applepay to Paypal to Venmo, paying with one's smartphone is becoming the norm. Smartphone apps like Uber are plugged right into your cards. As I see it, a cashless society is not only practical, but it's where we are heading.

BeGoods

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Quote from: doomloop on August 06, 2017, 12:06:15 AM

Quote from: Come on! on August 04, 2017, 10:06:59 AM

Cashless society means, everything is done electronically. For now its not possible, but may be in the future.
Its risky knowing that there are lots of hackers around you. Snatchers and robbers will decrease but online hackers may increase.

Yep! Cashless society will absolutely promote hacking. I believe that electronic money should be used side by side with paper money. That would make a better society to live in. Cashless society is not possible practically. Many people are going to oppose this idea because of too many risks.

I think someday, maybe cashless society can happen to see the technology continues to grow forward and all the transactions will become online because the internet will be a major necessity for all living beings, hacking is a risk to the cashless society, but technological developments will also bring security more good

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Quote from: RodeoX on June 14, 2017, 11:40:51 AM

Think of how much of your money is already digital. Your salary, most of the bills you pay; even when you get cash it is normally an electronic transfer at an ATM. Digital cash is not a coming trend. It is the norm now.

I dont think so, since government were aware about digital method of paying, i dont think cashless society will be possible, it might raise corruption digitally, that people were avoiding using credit cards because entities were raising their fees that lessen people's money that they should have used for themselves.

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