Topic: Digital Money = Cashless Society - page 42. (Read 4311 times)
the development of digital money in my country has not developed rapidly. we have not been able to buy anything with crypto. maybe our government is still afraid of cryptocurrency
If there is only one currency in the world that is bitcoin or another altcoin and Internet connection is every where of the world only then we can think about cashless society, otherwise not.
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.
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.
There's definitely quite a bit of merit to what you said, and I want to echo the idea behind your question on whether it makes any sense to go completely cashless. What if we did not have cash? Wouldn't that be some sort of restriction on society itself? Completely ridiculous. There currently is a drive to go cashless because it is a trend, it is convenient, and there is a market race between payment processors to become the most established within their respective markets -- like, see PayPal, Square, Payoneer, Amazon Payments, Visa/Mastercard/AMEX, etc.
In this thread, many have written about the benefits of digital money. However, there is a problem of public consciousness, which is not yet ready to give up paper money completely. I do not think that there are any objective reasons for this, it's just a matter of time when people completely restructure themselves for online money. Now, for example, the share of purchases through the Internet is growing steadily, but still very small
What a nice question. I live in developing country and I can say you with a full confidence that here people trust only cash. There are a lot of reasons why so and I am completely sure that nothing will change soon.
To have a society without cash we need a lot of external impacts, most of the world today are all using facial expressions, but each country has a distinct currency, I think If Bitcoin were to make international money, there would be a lot of things to be done quickly.
This is the way of the future transactions. It is really easy and you end up not getting to touch any cash just like you exemplified. This is part of the idea conceived by the Cryptocurrency and easy payments for goods and services rendered.
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.
well the economy stands on debt that's basically not even backed by anything. Meaning we dont need "cash" to regulate the economy. We just need to make more debt. Although i do somewhat agree with your point though that cash plays a certain role in ones culture.
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.
Yes ofcourse I have heard too and that's hood it means everybody is literate enough to handle gadgets and Internet and phones
Digital currencies are very convincing and very user friendly for all people so digital money is new way of transaction and their basic purposes so I think it takes some more time to make this changes in all our life.
Yes ofcourse I have heard too and that's hood it means everybody is literate enough to handle gadgets and Internet and phones
Digital money like Bitcoin is more convenient than any other payment method in a way that it is fast and easy. Here in my country I regularly use Bitcoin transaction in buying prepaid loads, paying bills and sending money to local remittances without any hassle.
I think that in 5 years there will be no paper money at all, they will become history. They will have to replace the crypto currency, but that's not yet clear.
Digital money has been around since the dawn of plastic money or cards (probably even before that but I can't be too sure). Anyway, we've gone a long way technologically speaking. Before, you'd really have to scramble to be first in line when paying your bills. you need to go to payment centers to pay your bills and most of the time you'll have to go to different payment centers. Now, banks have allowed utility bills payment through mobile apps which made life really convenient to most people. However, it didn't totally replace old methods of paying as payment centers are still around. What changed though, is the independent payment centers worked with different companies that allowed them to centralize the way people pay for bills, meaning one can go to the nearest payment center to pay bills for utilities like water, electricity, internet, credit card bills, etc.
If this digital money will soar around the different places in the world , and will be accepted by every citizen, then this will be the beginning of cashless society.Where in all transactions and payments will be through digital way.
It all sounds beautiful if you live in a metropolis, with a high level of automation and amenities. I do not know, maybe 20-30 of the world's population lives in such conditions. The bulk of the population lives in the countryside, away from civilization, where the car will always travel along local roads. Tell them about the advantages of debit and credit cards. If they take away cash, the only thing they have left is to go to barter, as in the Middle Ages. So far, to the cashless society, we are still very far away as a whole.
You are very correct in your analogy of digital money equal to cashless society. And there is where society is headed. The advent of cryptocurrency is facilitating the emergence of a cashless world more quicker than expected.
However, the availability of internet and knowledge of computer will hamper the process in less developed countries.
However, the availability of internet and knowledge of computer will hamper the process in less developed countries.
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 ??
Digital money.to be legal it is means of payments.
The law ammends Russia's civil code to create a basis for
Legal revations in the digital economy.in the new law
Crypto currencies are referred to as digital money.
That is true since we know that digital money/currency is in binary form, so we don't need the tangible ones to pay our everyday needs. But since bitcoin and alternate cryptos have the same weakness during offline, it's really hindering its purpose to have a cashless society that will be working good.
The use of digital money such as bitcoin may reduce the use of paper money. If a long time the community gets used to it, then the state of paper money may be replaced. Because after all the more here, everyone needs more easy and simple things.
Jump to: