Topic: Digital Money = Cashless Society - page 40. (Read 4289 times)
cash is useless since it is not related to the gold as it should be, we all know that there is more printed money than gold exists already, so why not?
Digital crypto currency is inherently non-cash money. Non-cash regular money and crypto currency will gradually displace cash. However, this technique is very long. Undoubtedly, in the very far away future we will come to a absolutely cashless society. However, with our existence with you this is not likely to happen. I assume cashless society is vulnerable in many ways. You do not have something to alternate if you ever go outside of the web range. If you've got ever travelled you understand how easy it is to get into a blind spot where your cellphone would not work. And in such spot your web won't work too. They won't have card terminals and you may not be able to buy fuel for your machine or a bottle of water. It's too early to strive to stay in a cashless society.
I think payment we now is without money but all of value based on the currency Fiat so technically we don't live in the public without cash for currency Fiat we still there with mode other payment. even before bitcoin any, we live in the semi-cash from credit cards, debit card, and online payment other such as PayPal. I can say "semi" because it is still using currency Fiat equivalent like when you buy shoes for 100 $ you will pay 100 $ + transaction costs to purchase, bitcoin also the same, you pay the number of bitcoin same 100 $.
Digital money definetely eliminates the paper money involved in the system. But would it make the system completely cashless is the main question. Well, it can definetely bring in a "less cash" drive than the cashless one. Offcourse achieving a cashless society is the bigger goal but we need to wait for that for a while. For now, less-cash society is whats being offered with the advent of digital money, and the whole digitization process alltogether.
Offcourse the cryotocurrency will add to this in a good and substantial way as it is based completely on digital money, created and existant over the cloud. This if regularised in a more advanced and accepting way, will definetely pave ways for cash-less economy and will eliminate problems assiciated with paper money like theft, laundering, corruption, etc.
Nah digital money wont eliminates cash or fiats even if the cryptocurrency dominates the whole world.Offcourse the cryotocurrency will add to this in a good and substantial way as it is based completely on digital money, created and existant over the cloud. This if regularised in a more advanced and accepting way, will definetely pave ways for cash-less economy and will eliminate problems assiciated with paper money like theft, laundering, corruption, etc.
Fiats and crypto will soon be merging but not in the sense of will combined,what i mean is even if crypto will be uses for every transactions of service we might have,but without electricity Cash will take over,isnt it the reality?
I agree. The fact that digital money is becoming more and more popular does not mean that ordinary cash will simply disappear. In some situations, we prefer to use cash. I think that these are different types of money, and therefore the digital money will not be able to completely replace the cash.
Visa and Mastercard are the only 2 universal business entities that can create its own money system should there is a "single currency" worldwide.
A 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. This is the future my frined. And its inevitable
Digital money definetely eliminates the paper money involved in the system. But would it make the system completely cashless is the main question. Well, it can definetely bring in a "less cash" drive than the cashless one. Offcourse achieving a cashless society is the bigger goal but we need to wait for that for a while. For now, less-cash society is whats being offered with the advent of digital money, and the whole digitization process alltogether.
Offcourse the cryotocurrency will add to this in a good and substantial way as it is based completely on digital money, created and existant over the cloud. This if regularised in a more advanced and accepting way, will definetely pave ways for cash-less economy and will eliminate problems assiciated with paper money like theft, laundering, corruption, etc.
Nah digital money wont eliminates cash or fiats even if the cryptocurrency dominates the whole world.Offcourse the cryotocurrency will add to this in a good and substantial way as it is based completely on digital money, created and existant over the cloud. This if regularised in a more advanced and accepting way, will definetely pave ways for cash-less economy and will eliminate problems assiciated with paper money like theft, laundering, corruption, etc.
Fiats and crypto will soon be merging but not in the sense of will combined,what i mean is even if crypto will be uses for every transactions of service we might have,but without electricity Cash will take over,isnt it the reality?
Yes you are right there, because if we plan to pursue digital money people will tend to use their digital wallets, more like a blockchain thing since people would grasp onto their e-wallets, one great thing here is that people will be instantly buying all the things they need, one disadvantage here is that we are prone of getting robbed bt hackers, wishing in the future that security will be tight in order for our safety.
The safety of an asset whether physical or digital is in the hands of its owner. If digital coins can be robbed, I think paper money can also be stolen and it is actually more vulnerable to this threat. Moreover, a person must show care and learn safety measures in order to protect his asset. In cyber world, the weakest point is human. People are a way too careless about their credentials.A society cannot be called completely cashless society even if it is mostly using digital money. We cannot still deny the fact that we need the paper money to regulate the economy of our country and to identify us that the currency we are using is belongs to that society.
I agree. The fact that digital money is becoming more and more popular does not mean that ordinary cash will simply disappear. In some situations, we prefer to use cash. I think that these are different types of money, and therefore the digital money will not be able to completely replace the cash.
Yes you are right there, because if we plan to pursue digital money people will tend to use their digital wallets, more like a blockchain thing since people would grasp onto their e-wallets, one great thing here is that people will be instantly buying all the things they need, one disadvantage here is that we are prone of getting robbed bt hackers, wishing in the future that security will be tight in order for our safety.
How is digital money in my country? I would say that we are still in the age of fiat money, although we received our salaries on our cards we still used fiat to buy goods and stuff for our daily living. A cashless society is an inevitable thing especially this time that technology is constantly changing our daily lives.
A society cannot be called completely cashless society even if it is mostly using digital money. We cannot still deny the fact that we need the paper money to regulate the economy of our country and to identify us that the currency we are using is belongs to that society.
I agree. The fact that digital money is becoming more and more popular does not mean that ordinary cash will simply disappear. In some situations, we prefer to use cash. I think that these are different types of money, and therefore the digital money will not be able to completely replace the cash.
It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
China is aware in bitcoin rather than other country. Well,the government is favor in using digital money, I think its because of the innovation in the technology they allowed their citizen to give it a try the crypto.
This is something that has happened in China. If you go to some of the bigger cities in China now, you can only consume a smart phone with unimpeded consumption. People will pay app to open, scanning the other party's two-dimensional code, can immediately pay for the electronic. I think that many big cities in the world will soon enter the cashless society, and bitcoin may become the driving force of this trend.
A society cannot be called completely cashless society even if it is mostly using digital money. We cannot still deny the fact that we need the paper money to regulate the economy of our country and to identify us that the currency we are using is belongs to that society.
A cashless society is something that is very much suitable for the future state of the society. There people will have very fast and reliable yet safely secured to ensure the optimum transacting experience of all users. I believe that the upcoming implementation of bitcoin as a currency will be a good stepping stone towards this vision. 
People are becoming aware of the advantage of cashless society because we all know that bringing huge amount may endanger our life because of the evil intention of people around us and so people specially the rich prefer to do or use cashless,, such as credit card or bitcoin for safety measure and convenience.
Digital money is the future. The more the country develops, the more non-cash payment is used there. Crypto-money allows you not to depend on the state and they will displace all existing public payment systems
This sounds real for me. It seems logic, that paper money is already a worthless old system, that will be elliminated in few years.
It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
in my country, digital money like PayPal and internet banking is still used by many people. but for bitcoin cannot be used at all. our government and financial authorities prohibit the use of bitcoins to transact. but for digital assets are allowed. so if you want to shop using bitcoin, we have to exchange first into fiat money Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
Inflation is the increase in prices of services and commodities. From a different standpoint inflation can be interpreted as decrease in the value of money.
In a cashless society services and commodities are exchanged for other commodities and services(barter system). So any change in the exchange rate of these services can be viewed as increase in value of one commodity or services and decrease in the value of another. So this can be interpreted as inflation with respect to a commodity and deflation with respect to another commodity.Alternatively in a cashless society services and commodities can be exchanged for a common commodity such as gold. In this case gold can be viewed as a currency and any increase in prices relative to gold can be viewed as inflation.
In a cashless society services and commodities are exchanged for other commodities and services(barter system). So any change in the exchange rate of these services can be viewed as increase in value of one commodity or services and decrease in the value of another. So this can be interpreted as inflation with respect to a commodity and deflation with respect to another commodity.Alternatively in a cashless society services and commodities can be exchanged for a common commodity such as gold. In this case gold can be viewed as a currency and any increase in prices relative to gold can be viewed as inflation.
It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.
Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.
Bitcoin is a part of digital money. How is digital money is your country ??
It's quite accepted well here in oir country. A lot of people now use debit or credit cards for transactions but ofcourse fiat money is still needed. You can't take a cab or ride any transportation system while using plastics.
I'm from Philippines by the way.
Jump to: