Digital Money = Cashless Society - page 8.

mcabrito

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Quote from: Popov_popov on August 17, 2018, 04:09:13 AM

I would very much like to see the world as in films where people have chips and can pay for them. But probably not in our reality.

Well maybe it can happen in the future, we may never know what's gonna happen that time. But for the coming years I think this is still impossible to have a cashless society.

Popov_popov

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I would very much like to see the world as in films where people have chips and can pay for them. But probably not in our reality.

bitcon

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Quote from: bilyboy on August 14, 2018, 08:22:53 AM

Such a thing is very hard to imagine in developing countries but it can be very helpful. This will be possible only when the government in those countries is ready for this.

Even the developing counties can accept and use the cryptocurrency soon. However, do not forget about some so-called Third World countries. Most of the people there never use the Internet, and they will be not interested in crypto.

Ucy

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Digital money works OK here. The cashless thing was promoted alot from 2011 to 2014. I don't know about now because I hardly even listen to radio, watch television or read Newspaper these days. PoS is still being used Malls and shopping centers though. Most medium sized shops have the pos but hardly use them. They don't exist in most small shops.

Some Banks try to encourage people to go cashless with rewards but people don't care. We still like our cash.

jaysabi

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Quote from: Pan Troglodytes on August 14, 2018, 06:52:51 AM

Quote from: Elwin_Dog on August 12, 2018, 11:01:54 AM

Quote from: jaysabi on August 12, 2018, 10:47:54 AM

We'll likely have a mostly cashless society, but that doesn't mean anything for Bitcoin. Digital cash denominated in US dollars will rule the US economy, as it currently does, and Bitcoin will not meaningfully penetrate into day-to-day commerce or business transactions. Compared to digital cash, Bitcoin is clunky, slow, and needlessly complicated. Centralization is not nearly the problem Bitcoin proponents want to make it out to be. Everyone hates PayPal, but PayPal works exceedingly well and Bitcoin really can't touch it because most people want a centralized authority they can trust manning transactions in case the other party commits fraud or acts illegally. A trustworthy central authority (the payment middleman, like PayPal, MC, Visa, etc.) is far superior to a decentralized system where payments can't be reversed in cases of fraud.

The centralization of Bitcoin may seem at first like a threat to its existence, but it's probably the only way to effectively accomplish the things that you mention. Bitcoin doesn't really have the ability to be widely used as a currency at this stage like you said, but it has features of anonymity and tax evasion that will continue to attract people to use it. I can't exactly see it being widely used for day to day transactions, however.

Cash will still reign I think because it is what makes things get done. You can get better prices, faster service, more favorable conditions with most vendors if you pay in cash. Digital money is still clumsy as well in my opinion.

It changes, especially in Europe. Sweden currently is almost cashless, when you pay in cash they look at you like you stole it and even beggars on streats have card terminals, and Poland is a leader in terms of contactless payments. Meantime, banks do what they can to promote those new ways of payment and make it harder to use cash (they impose limits on ATM withdrawals, etc.).

So before you know it you may one day wake up in a cashless world. It will not be better and probably it will not be easier either, and VISA will know details of what you had for breakfast and what courses your kids took.

Visa doesn't get details of what you buy, only where you buy it. The inventory of what merchants sell to consumers is not part of the data that is critical to running the payment platform.

There are certain companies that are poised to do very well as cash continues to die. PayPal, Square, Visa, MasterCard especially. All of these facilitate digital payments or deal with digital cash, and as physical cash becomes less and less common, these centralized platforms have outgrown the general market and are poised to continue doing so. Bitcoin isn't really an improvement among any one of them, it's far easier and reassuring using one of these services because people have faith that if something goes wrong, there's someone there to fix it. If something goes wrong with a crypto transaction, you're out of luck.

bilyboy

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Such a thing is very hard to imagine in developing countries but it can be very helpful. This will be possible only when the government in those countries is ready for this.

Ondre

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Digital money indeed will lead to cashless society in the future. In our country credit cards and debit cards are used a lot and i believe cryptocurrency is now being introduced to many. Later on, in the future many are into digital already.

amber deposit

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Yeah digital money is very popular nowadays but before we come to that cashless society, We need first to have a good internet connection all over the world. Because it is needed to verify first before we can make a transaction. Second is the assurance that there will no be power interruptions. Since all digital currency needs electricity to exist. Internet security also is needed to avoid hackers and scammers. We need to tackle some issues first before we achieve a cashless society.

Pan Troglodytes

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Quote from: Elwin_Dog on August 12, 2018, 11:01:54 AM

Quote from: jaysabi on August 12, 2018, 10:47:54 AM

We'll likely have a mostly cashless society, but that doesn't mean anything for Bitcoin. Digital cash denominated in US dollars will rule the US economy, as it currently does, and Bitcoin will not meaningfully penetrate into day-to-day commerce or business transactions. Compared to digital cash, Bitcoin is clunky, slow, and needlessly complicated. Centralization is not nearly the problem Bitcoin proponents want to make it out to be. Everyone hates PayPal, but PayPal works exceedingly well and Bitcoin really can't touch it because most people want a centralized authority they can trust manning transactions in case the other party commits fraud or acts illegally. A trustworthy central authority (the payment middleman, like PayPal, MC, Visa, etc.) is far superior to a decentralized system where payments can't be reversed in cases of fraud.

The centralization of Bitcoin may seem at first like a threat to its existence, but it's probably the only way to effectively accomplish the things that you mention. Bitcoin doesn't really have the ability to be widely used as a currency at this stage like you said, but it has features of anonymity and tax evasion that will continue to attract people to use it. I can't exactly see it being widely used for day to day transactions, however.

Cash will still reign I think because it is what makes things get done. You can get better prices, faster service, more favorable conditions with most vendors if you pay in cash. Digital money is still clumsy as well in my opinion.

It changes, especially in Europe. Sweden currently is almost cashless, when you pay in cash they look at you like you stole it and even beggars on streats have card terminals, and Poland is a leader in terms of contactless payments. Meantime, banks do what they can to promote those new ways of payment and make it harder to use cash (they impose limits on ATM withdrawals, etc.).

So before you know it you may one day wake up in a cashless world. It will not be better and probably it will not be easier either, and VISA will know details of what you had for breakfast and what courses your kids took.

Elwin_Dog

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Quote from: jaysabi on August 12, 2018, 10:47:54 AM

We'll likely have a mostly cashless society, but that doesn't mean anything for Bitcoin. Digital cash denominated in US dollars will rule the US economy, as it currently does, and Bitcoin will not meaningfully penetrate into day-to-day commerce or business transactions. Compared to digital cash, Bitcoin is clunky, slow, and needlessly complicated. Centralization is not nearly the problem Bitcoin proponents want to make it out to be. Everyone hates PayPal, but PayPal works exceedingly well and Bitcoin really can't touch it because most people want a centralized authority they can trust manning transactions in case the other party commits fraud or acts illegally. A trustworthy central authority (the payment middleman, like PayPal, MC, Visa, etc.) is far superior to a decentralized system where payments can't be reversed in cases of fraud.

The centralization of Bitcoin may seem at first like a threat to its existence, but it's probably the only way to effectively accomplish the things that you mention. Bitcoin doesn't really have the ability to be widely used as a currency at this stage like you said, but it has features of anonymity and tax evasion that will continue to attract people to use it. I can't exactly see it being widely used for day to day transactions, however.

Cash will still reign I think because it is what makes things get done. You can get better prices, faster service, more favorable conditions with most vendors if you pay in cash. Digital money is still clumsy as well in my opinion.

jaysabi

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We'll likely have a mostly cashless society, but that doesn't mean anything for Bitcoin. Digital cash denominated in US dollars will rule the US economy, as it currently does, and Bitcoin will not meaningfully penetrate into day-to-day commerce or business transactions. Compared to digital cash, Bitcoin is clunky, slow, and needlessly complicated. Centralization is not nearly the problem Bitcoin proponents want to make it out to be. Everyone hates PayPal, but PayPal works exceedingly well and Bitcoin really can't touch it because most people want a centralized authority they can trust manning transactions in case the other party commits fraud or acts illegally. A trustworthy central authority (the payment middleman, like PayPal, MC, Visa, etc.) is far superior to a decentralized system where payments can't be reversed in cases of fraud.

Kokakolla

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Digital money in our country is also common by using debit or credit card or sometimes through internet or online bank, of course this way of buying or spending money is very convient nowadays, but still not all community is familiar with this method, so they will prefer using the paper money.

Maame Esi Sergio

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Digital money has made things easier for me now on the online trading and shopping markets. Imagine living in a country where you have no means of payment online, and paypal isn't working. I remember before geting to know of bitcoin I registered on a freelancer website to at least take up some jobs to earn something small for my pocket. Unfortunately, paypal was the only means I could get payed, but hmmm. I think digital currencies will make a great difference.

KeijiN

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It is already a long time after her people understood that we need to have a cashless society because our Society right now is just fading away economically, so we definitely need to improve and change something around it.

Sergio444

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The world is gradually evolving, and it will continue to evolve but its just a matter of time. Bitcoin could be use as a means of payment of online services currently. Previously, in my country, getting service online was very difficult because paypal isn't working, but now it is more easier with bitcoin. The only problem is that not all shops accept bitcoin and to shop using bitcoin, you have to get means of payment that encourage use of bitcoin. But we cant completely move from cash to cashless. There will definitely be some cash forms of payments in the system due to fear of hacking.

First77

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jatin729

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Yes i agree with that Digital money = cashless society. But here we are not talking about few miles area, it is about whole world.
In now we have seen three kinds of nation exist, Under developed, Developing nations and Developed Nations. We need such kind of infrastructure and technology. I know that blockchain has potential to change the world but it takes time because there is much improvement need in it.

OrangeSeller

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We already have a pretty much cashless society most of the part. We use our cards either credit card or debit card to pay many stuff and not carry all our cash with us.
Now that banks are also working on mobile apps really hard and try to make mobile phones and tablets into PoS systems so people can pay from their own mobile app account and login and just read a QR code and the seller will have their own mobile app or tablet app and get paid with the app there, which will help us get rid of PoS systems as well. Bitcoin will need a lot more improvements to pass banks .

wyplashdea

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The day cash money will disappear we will have a big problem... With cash money there is some freedom in the way we spend out money, nobody needs to know what are we buying, with digital money, unless it were anonymus....it is imposible.

tdtduy

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Quote from: Pay phone82 on August 08, 2018, 08:42:32 AM

I would say that in some point in developing countries the Society is almost cashless already, with those credit cards, phones and etc. Lips sealed

Compared with developed countries, developing countries have a habit of using more cash. And in developing countries, governments in many countries do not accept electronic money as a legitimate currency. So, getting rid of cash in society is quite a distant thing. For developing countries it is not feasible in the future. But I do not deny the influence and development of electronic money.

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