Topic: Digital Money = Cashless Society - page 52. (Read 4311 times)

That is what I have been saying in bitcointalk. Debit and credit cards run digital money/cashless society. Bitcoin is an illusion of new form of digital currency.

Pretty good in general over the last couple of years after our prime minister pulled an ace from his sleeve and did a famous 'demonetisation' move which pushed for a cashless society. Although cryptocurrencies weren't the top priority, they did make their mark by raising eyebrows of the officials. E-wallets were the biggest benefactors as over 100 million users began using apps like PayTM.

The largest users of digital cash today is China with estimated 1 billion users that is larger than the most American and European users combine. China is now the leading country of digital innovation and digital consumers, they ban bitcoin because they have already stablished a digital payment system like WeChat and Alipay and they don't want to disrupt citizens about adopting new payment processor like bitcoin. Overall worldwide, digital cash or digital money is still not known to other 3rd world country where internet communication is hard to reach so, traditional paper money cash system is still used. We hope in the near future for more than 20 years from now digital cash will be acceptable in any part of the world.

maybe cashless society will happened someday when people able to buy their daily life use digital money however i have been use perfectmoney or webmoney since 2014 and automatically those can called as digital money but digital money users in my country were very less and there is not much option to use digital money as instead of my paper money

Its all about our thoughts and how to put the world that we see in front of us. I mean digital money do exits everywhere but it doesn't mean that we are cashless completely. The money has to be minted to have physical presence in the banks and financial institutes. They can not just put the number in our bank account which will circulate everywhere and will fulfil the transaction. I mean money has to be in some sort of form mate! For example, physical cash is printed, it gain the legit marks and then it is circulated. This process carries specific value. Even for the bitcoin, or altcoins, there is virtual form in terms of algorithms which are circulated and there is mining protocol which costs energy and thus gains the value for it. This way everything is valued but to get value it has to be given to something, and again its physical cash. So we are not cashless at all.

In my country the government has not legalized bitcoin for several reasons. Unavailability of means for exchange by using bitcoin. People still use fiat money as a tool for transactions. With the passage of time, the more advanced technology may bitcoin grow and develop well in my country.Hopefully

In recent years, the trend of "de-cash" in the world has suddenly accelerated with the help of tangible hands, and the "cashless society" seems to be coming.

As demand for paper money and COINS continues to fall, more and more countries are using digital currencies, cryptocurrencies and bitcoins.

It would happened and possible in the near future but still it depends on the country implementing and regulating digital currency such as bitcoin. In my point of view money bills still exists because not all knows bitcoin or any digital currencies so i guess it just a matter of time educating them. 

I think maybe in the future cashless society as of now is not the proper time but with the new technology wich bitcoin can play a major role in digital transactions hope we can be a cashless society.

70% less cash/currency will also be good for the world economy.

WeChat payments must be getting funded by bank accounts (digital Yuan) or debit/credit cards. Ultimately it is "Chinese Yuan"

If the digital cryptographic currency is legal around the world, bitcoin and other encrypted digital currencies or the ultimate replacement of the cashless society.

The encryption currency is not controlled by the central bank, the quantity is limited, can resist the inflationary pressure completely, protect people's property!

Our country hasn't fully achieved yet the cashless society but right now there's a lot of mobile apps that can be use for paying load, bills and even paying through online in an online shop although crypto currency hasn't fully embraced here the demand on those apps is getting higher as the year goes by.

Bitcoin is created as digital money but today the value of bitcoin is high and can not be equated with money in general, high market exchange rate is what makes bitcoin can not be equated with money and more inclined to the type of gold that has a high value as well. Digital money in the my country like other neighboring countries but some and perhaps 98% of banknotes are still used by communities and traders, so the paper money is still in use until the next century or more.

when it comes to that direction is the discussion of the destiny of what has been outlined by God to us all and live how we to mix it up so it can run well

I don't know if a cashless society is fair to all of us. Because there are so many people who are not using the internet and some don't have gadgets. I think it is better if we use fiat and digital money at the same time.

If digital cryptographic currency is legal in China, many people would prefer to pay with BTC!

BTC payment can protect people's privacy very well!

Cashless society makes it convenient for people to travel!

If you think that paying with debit and credit cards does mean that you are going to be a cashless society then majority of the countries will be like that, as every major shopping centers around the world will accept cards, you need to have the local currency if you are going for local shopping or street shopping where they wont be accepting cards and that is the case around the world too.

China's cashless society is realized through WeChat payment and alipay payment!

They rarely use debit and credit CARDS!

This kind of payment method is also the application of block chain technology!

The elimination of cash / paper money will likely always have a negative, detrimental, effect upon an economy and civilization/society as a whole. Cash will probably always be a more efficient method of carrying out transactions in some areas. Banning cash has a high potential to reduce the efficiency of how everyday business is done, which in turn has a potential to kill jobs, economic opportunities and otherwise cause recession/economic slowdown.

Eliminating cash further centralizes business and economies. Having electronic money compete with fiat paper money is a better precedent as it invokes greater competition which in turn gives consumers more options which generally translates to elevated standards of living, higher economic prosperity, greater funding opportunities for small businesses which in turn create jobs and strengthen the economy.

Eliminating cash also increases the likelihood of surveillance, manipulation of markets and other negative precedents. It could give banks and similar entities greater control over how consumers spend their money. Crypto currencies being banned for purchase by some banks and investment firms is a good example of this. If all currencies were denominated in an electronic format, this would make it easier for banks to ban the buying and selling of crypto and other things.