Digital Money = Cashless Society - page 44.

Kim Ji Won

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Quote from: flower1024 on April 19, 2018, 01:32:13 PM

The cashless society is good for the country it will reduce the corruption. But digital money(cryptocurrency) again it will increase the corruption rate so both are same.

To make cashless society is no easy, only educated people can understand this digital currency what about uneducated? how can we teach them? it's not an easy process takes years.

Cashless Society will not reduce corruption, it will only make it easier to do so.

In my country, people who are using digital money to buy goods and services online, still can't be compared to other countries whose technology is far more superior than us. But even so, not going into a fully cashless society is better and I want both physical and digital money to go hand and hand with each other.

clarky

newbie

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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.

Whosdaddy

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Quote from: ironman2014 on April 17, 2018, 02:38:42 PM

If this is true about China, then it's cool, I would like to have it in my country like in China. Paper money is an outdated way of shopping.

It has been happening in most of the developed countries and developing ones.
Most places are gradually becoming cashless with the help of the internet, most banks now have their own applications which you can easily do transactions, you can easily pay for goods with your ATM or transfer and stuffs like that.

I personally hardly carry cash on me most times simply because I always end up not using it for a very long time. Cryptocurrency will really make it even more interesting as we forge ahead.

removebeforeflight

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Digital money is the future and the concept of Bitcoin is also the same and slowly and steadily digital money is acquiring or replacing paper currency in the world. The best part of digital money is crypto currencies and this crypto is going to change the world economy in to a cashless society soon. The concept of Bitcoin is success in digital world.

ghost07

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Quote from: First77 on March 25, 2018, 11:27:41 AM

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 ??

china and philippines has the same society but not so cashless. we use debit and credit card but not as china we also use our traditional currency to some markets that dont have internet or computers that use in cards.
bitcoin or all digital money in our country is very popular this days because they use it to earn money in trading ro exchangers.

First77

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Quote from: Guryon_master on April 17, 2018, 09:33:29 PM

In our country, digital money has a good move overtaking the traditional way, though cryptocurrency is not legal the good thing is it is not also illegal. And now many are already aware of it and transaction through this is growing.

Today I paid all my monthly bills online/via internet.

jakoylantern

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For me, it can happen, but the percentage on digital money equal to a cashless society is very meager. We all know that there is only a few establishments that are accepting bitcoin comparing to that establishment and companies that are accepting bitcoin as payment. Also, the acceptance of bitcoin is still meager even it is accessible and expensive. Maybe in the future, digital money is equal to cashless society if bitcoin and another cryptocurrency become legal and the acceptance grow.

flower1024

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The cashless society is good for the country it will reduce the corruption. But digital money(cryptocurrency) again it will increase the corruption rate so both are same.

To make cashless society is no easy, only educated people can understand this digital currency what about uneducated? how can we teach them? it's not an easy process takes years.

senne

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You seem to be little bit confused here so does everyone else about this concept. Without any doubt, Bitcoin is a type of digital money but there are two types of digital money i.e. centralized and decentralized and government mostly supports centralized currency as they can keep a watch. Due to which despite governments promoting digital money many are against Bitcoin as it comes under the category of decentralized currency.

Dudeperfect

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I believe that anything valuable transferred through the digital medium is a digital money irrespective of the form. Not necessary that you should earn it from the internet. You can always use your current tangible money and ask your bank to enable internet banking for your account. In that case, your cash will stay at the bank but your electronic transactions will pass the information from one point to another and bank will deduct that amount from your balance. Bitcoin is fully based on information and clever code there is nothing tangible other than the actual device.

valentinen39

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Quote from: First77 on March 25, 2018, 11:27:41 AM

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 ??

I prefer on living a cashless society because the transactions will be a lot more faster and there will be more investors of cryptocurrency that will be going in the market that will makes the price of bitcoins to increase even more.

naidray

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Quote from: Sled on April 17, 2018, 08:04:49 PM

Quote from: Edraket31 on April 17, 2018, 03:02:18 PM

Quote from: fmboyzz on April 17, 2018, 02:45:53 PM

The absence of cash will encourage the barter system, and as every well educated human being knows the natural evolution of a barter system results in a commodity-based currency which eventually will be gold and/or silver! A cashless society will kill the fiat paper system.

There would be a conflict when that happens, it would be hard to calculate economy and everything so I think that we are not yet ready enough to have a cashless society unless all country will unite as one in favoring this thing which I think would not happen, let us see in the future if it would be possible.

I think it is not that complicated if we will see a country that will become cashless because cashless society is a good step for a country to show that they will be going to be more advanced since cashless society will stop them from printing money and they can just use the blockchain technology so they can easily scan some transactions online.

Well, we can say that cash itself is gradually becoming extinct but not to a large extent yet. Also, in some places where there may really be some limitation to technology and internet, having a cashless society is really going to be hard. I believe the developed worlds are going to always be the ones to always get this in play first, looking at the way most places in the developed world are already going cashless and most of the people who are vast with the internet hardly carry cash around. With digital currencies evolving more and more, I am sure it would even get better.

zuyfg888

sr. member

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Just like all other thinking about bitcoins. It could be a virtual money or like a digital money they say. If bitcoin would be legalized, bitcoin can be the money of any society in the world. We use digital money instead of cash. We simplify things through our innovations. Getting involve with bitcoin or in digital money could be the biggest innovation in a society.

First77

member

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The currency in circulation, at Rs18.4 lakh crore on April 06, is higher than the Rs17.9 lakh crore at the time of demonetisation, according to RBI data. This increase is due to improved economic activity, but there needs to be much more currency compared to the existing supply,to keep pace with the growth.

https://www.msn.com/en-in/money

Supercrypt

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Quote from: Btcepoy11 on April 17, 2018, 08:34:02 PM

It's good to use digital money like bitcoin and other alternative coins, it is easy to use and no hassle. In my country we are already using digital money like bitcoin, but in limited areas only not at all using digital money. It needs a lot of development to be a cashless society.

Cashless society has been going on, at least for my country and it just seems digital currencies only came to speed things up. People are already starting to get used to the idea of not carrying cash around and then making use of the digital space to make transactions locally and globally.

There is still a lot of limit and policies, most especially when making global transactions which cryptocurrency has changed and that alone for most people who make international transactions alone has made the idea of having cryptocurrencies very interesting and sidelining the banks.

anakkampung17

newbie

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Now the era of Technology. Perhaps almost 70% in this world humans can already make transactions without money. And it's easier but is it safe not to lose? What about humans who still live in remote villages who do not know the meaning of Technology? I think it is currently in balance because money will always be a means of exchange and turnover of a legitimate transaction.

Rizky Aditya

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Quote from: Sadlife on April 17, 2018, 08:43:25 PM

Our country isn't ready for a cashless society because there are still many people who suffers poverty who can't afford internet and device or gadgets that can access the internet. Instead they buy it for they're daily necessities like food, clothing and bills.

The same case is in my country because there are no credit cards with all the people, because the banks do not issue credit cards to its holders. They can only issue debit cards. The other reason is that many people still do not know what is bitcoin and digital currency and that’s why they don’t invest their money in cryptocurrency. It will take more time to enjoy cashless society.

BitcoinLoan

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Quote from: geopolisch on April 19, 2018, 01:11:15 AM

Quote from: Choyor on April 17, 2018, 08:41:33 PM

Quote from: First77 on March 25, 2018, 11:27:41 AM

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 ??

Currently the government encourages its residents to use credit cards where fiat money is transferred to electronics, the system is believed to facilitate people to transfer in one transaction especially online transactions, but it should be underlined also that the system is not yet fully accurate to see still many people whose lives are still below the poverty line, in my opinion at this time the world is not ready without paper money.

Not yet because cashless society means that they have no cash money and china has now announced that their people can now trade and deal in bitcoin. In the near future no doubt china will be cashless society. It is better but for that everyone should have internet and will know the use of internet. In cashless society the people will have no worry about stealing and looting their money.

Digital Money intersect most directly with the real economy. Virtual currencies with bidirectional flow may be bought and sold according to prevailing exchange rates and may be used to purchase both real and virtual goods and services.

geopolisch

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Quote from: Choyor on April 17, 2018, 08:41:33 PM

Quote from: First77 on March 25, 2018, 11:27:41 AM

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 ??

Currently the government encourages its residents to use credit cards where fiat money is transferred to electronics, the system is believed to facilitate people to transfer in one transaction especially online transactions, but it should be underlined also that the system is not yet fully accurate to see still many people whose lives are still below the poverty line, in my opinion at this time the world is not ready without paper money.

Not yet because cashless society means that they have no cash money and china has now announced that their people can now trade and deal in bitcoin. In the near future no doubt china will be cashless society. It is better but for that everyone should have internet and will know the use of internet. In cashless society the people will have no worry about stealing and looting their money.

stayeduptolate

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Quote from: First77 on March 25, 2018, 11:27:41 AM

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 ??

It’s true that digital money and cashless society sound very fascinating and it’s also gaining a lot of popularity among the people throughout the world.But still it’s there are many years before cashless society can be found throughout the world without any problems because firstly cashless society requires electricity and there are many countries in the world where it is not there. It also requires a stable Internet connection and there are many places in the world where Internet connection is not available or very poor.

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