Topic: Cashless society - page 7. (Read 36284 times)
It would be terrible for the economy in general, since every single business in the world is based on a cash system. However, for Bitcoin it could be benefitial, since these business would see it as one of the last options.
I believe that a cashless society is possible to happen in this world but it may not take now or in the near future. Rather, it may take long long years to happen. Cashless society has a big possibility cause technology nowadays is getting higher. Modern generation are easily adapting the high technology of the world but there are still others who wasn't able to adapt this modern world. Inventions are getting more and more. Even a young student has the capacity to make a thing in which out of the mind of others, but will benefit many people. In the future there's a chance that we will be living with robots, highest technologies will be discover, and paper moneys may not be seen by anyone due to the new way of paying which is cashless.
I hope cashless society will never become a reality. It can be described as a totalitarian society, where each your step is under state control. Moreover, it makes individual savings, and information about individual incomes and transactions, accessible to any party able to access the records.
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.
Impossibility can only be found in the dictionary of a fool. Although it may take longer time, but the fact of the matter is that cashless society is achievable but it may be gradual.
I think the world will be a cashless era.
In China's first-tier and second-tier cities, cash is rarely used, but rather a digital currency, alipay and WeChat. Of course this applies only to China, and I think the future of bitcoin may be the world's currency.
In China's first-tier and second-tier cities, cash is rarely used, but rather a digital currency, alipay and WeChat. Of course this applies only to China, and I think the future of bitcoin may be the world's currency.
I have wondered this but in literally no money at all, and how that would work. In order for this scenario to work everyone would basically work for each other because they want to help each other, and everyone would have to be a good person, else the selfish people would take advantage.
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.
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.
Cashless society is good becs. It is very handy, accounts payable and payments of goods will be online, but you need to take care of your accounts since there are a lot of hackers nowadays. That is my worry for now.
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.
If all cashless transactions were completed by waving a phone in front of a sensor, they might be completed faster than paying with cash. However, that is not the case. Most often, the cashier or customer swipes or inserts the card, then waits for the transaction to be processed and the customer to sign the electronic pad (or, worse, for a paper receipt to be printed and then signed). Several cash transactions could be completed in that time frame.
The existence of a cashless society brings goodness in life, if all the same then there will be no life, some are rich and poor then the economy can go well and but with this fact then we should care more for those less fortunate.
But still existing central-bank money has its benefits: notes and coins available to anyone, whereas reserve accounts open only for commercial banks already in electronic form. Central bank cryptocurrencies could be either widely available or tightly restricted.
I am still young but i prefer using cash and it's okay for me. I can't believe to my government and wont let them my money. I want to see my goods.
You do not need crypto money for this.I can not use crypto money in my daily life without turning it into real money.I do not carry cash in my daily life.I usually use cards. Card is safer.
I think this is possible, but this would be implemented by the governments.but Something the governments don't want.so hoped cashless socity is not rich.
Its already happening in some countries, especially in the first world countries.
Well to attain this status, the country's economy comes first. They need to have a very stable and not that far to the average exchange to other currencies. Second is security, they must have a security that will ensure the safety of their money when they will entrust it to any bank inside that country.
So the cards and other items that can be used in buying items that will allow them to purchase things that do no really require paper money.
Well to attain this status, the country's economy comes first. They need to have a very stable and not that far to the average exchange to other currencies. Second is security, they must have a security that will ensure the safety of their money when they will entrust it to any bank inside that country.
So the cards and other items that can be used in buying items that will allow them to purchase things that do no really require paper money.
That is certainly true, mate. This usually applies to credit/debit cards and other cashless payments which require the security and reliability of a bank. However, with cryptocurrencies that's not the case since most of them are decentralized which take the middleman out of the equation. Maybe, when countries start rolling in their own digital currencies, they would issue them via central banks (as they've done with physical fiat until today) or perhaps, banks would no longer exist and digital fiat currencies would operate on their own.
First world countries usually have the advantage when it comes to obtaining the latest technologies, but third countries may follow soon as internet access becomes accessible to all regions of the world. Until the Internet becomes freely accessible, then a cashless society may take some time to become a reality. But the way everything is heading into, shows that governments would issue their own digital currencies in the future, leaving physical fiat currencies in the dust. Just my opinion
with the coinmarketcap of crpytocurrency and transaction on blockchain increase rapidly nowadays it one of many signs that the cashless society show its existence, no one ever doubt it
, it is the future of world dude
, the cryptocurrency might different for each developer , but the technology behind it is awesomemany goverment will create digital fiat and manage themselves, there no need any physical cash again . soon or later
so many advanteges has proven by its .
for bitcoin existence itself . only market demand will determine bitcoin's existence . but long last or not , bitcoin was success to been a pioneer that bring the world know how powerfull blockchain is.
overall it is just my opinion
Its already happening in some countries, especially in the first world countries.
Well to attain this status, the country's economy comes first. They need to have a very stable and not that far to the average exchange to other currencies. Second is security, they must have a security that will ensure the safety of their money when they will entrust it to any bank inside that country.
So the cards and other items that can be used in buying items that will allow them to purchase things that do no really require paper money.
Well to attain this status, the country's economy comes first. They need to have a very stable and not that far to the average exchange to other currencies. Second is security, they must have a security that will ensure the safety of their money when they will entrust it to any bank inside that country.
So the cards and other items that can be used in buying items that will allow them to purchase things that do no really require paper money.
North America is almost cashless society.
It's possible. Because now we already doing cashless transaction like atm card and other electronic transactions that no cash involve. On this process, it can be more easier to do such things like buying online by just using your account and other transactions without any cash. It would be convenient for us to do things using cashless system.
actually using credit cards and debit cards in regular shoppings was a good step for cashless society and it is really very comfortable for everybody.
like if the card is enough secured even it is very safe against thiefs etc.
like if the card is enough secured even it is very safe against thiefs etc.
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