Digital money is cashless society - page 16.

SixOfFive

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Quote from: First77 on March 22, 2018, 03:43:51 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.

All you need to know about digital money http://www.digitalmoneytalk.com

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. See http://money-talk.org

How is digital money is your country ??

Bitcoin is a part of digital money.

Most of the countries are encouraging digital cash but thats not mean cryptocurrency. In My country India also, Digitalization is very much encouraged and digital cash is now quite involved in the economy but Indian govt. is not in mood of adopting BTC as legal tender.

rafyq144576

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In my country they do not recognize ways of paying through digital money, it is illegal and unorganized, although a small percentage of people use this type of payment method.
I think it is time for full international exposure such as these digital financial transactions, such as bitcoin, especially with the adoption of some international companies in the internal banking and foreign banking.
Such transactions will make it easier and easier to pay online.

semobo

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Crypto currencies are more than the digital money,in current cashless economy we still need banks to do the transaction and they have more advantage than cash economy because they hold most of the fiat currencies of the world.
But cryotocurrency is different from that we hold the currency and we can do transaction when we want no restrictions or what ever so the real cashless economy is when all the people uses cryotocurrency in their daily life.

First77

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Merit: 32

Quote from: salterious on March 22, 2018, 11:12:04 AM

I don't think any society should be cashless though, not unless their is another system in place that functions on a higher level

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.

salterious

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The revolutionary Export system/One-click Export

I will believe it when I see it. I will be heading to China not too long from now and if their is zero cash in circulation believe me I will be able to tell. I don't think any society should be cashless though, not unless their is another system in place that functions on a higher level *ahem* Bitcoin *ahem*.

btc-facebook

legendary

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My country also have digital money and bitcoin become the new trendsetter for digital transaction.
On first glance , bitcoin really good for doing transaction, not just cheap but also fast especially for global transaction.

And now bitcoin become the part of society that soon will turn this world become full of digital transaction

zelenkova

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Yes, it's great that you do not need to carry unnecessary and permanently interfering cards. I'm always afraid of losing them, but here I just translated everything.

First77

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Quote from: virendarnagpal on March 22, 2018, 07:29:39 AM

In India also it's true that urban people use card but very less population form rural people prefer or even know how to use payment via cards / internet. A lot of efforts are needed in this direction. Though the current Government is very much active and doing best efforts to promote cashless trading. Within years definitely India will be cashless majority country.

Amazon India suffered $2,000,000,000 loss for 2017. Looks like India is going the other way.

xhoondilan

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When all people will use digital money in the future, it would be a big different from what we have now, there will be less crime and your money will always be safe in the digital wallets so you can go out, buy items and even pay for transportation with no big amount of cash in your wallet, also its faster to transact using digital money rather than the fiat one .

crimsongoth

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Big and developed societies have fully digitalized their economic infrastructure in time and this process is still going on. My country is one of the countries where these developments are experienced, but the pace of progress isn't still enough.

First77

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Quote from: BlackPanda on March 22, 2018, 07:41:50 AM

In my country today digital money is becoming a choice of many people, people in urban areas prefer digital money because now most transactions are done online.

Digital means numbers. $100 or $1000 etc......

tansoft64

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In my country digital currency are not so known and only few people are using digital currency especially to thus rich and people that are engage in bounty hunting on ICOs here in forum.

BlackPanda

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Quote from: First77 on March 22, 2018, 03:43:51 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.

All you need to know about digital money http://www.digitalmoneytalk.com

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. See http://money-talk.org

How is digital money is your country ??

Bitcoin is a part of digital money.

In my country today digital money is becoming a choice of many people, people in urban areas prefer digital money because now most transactions are done online. Various online stores are also very easy to find on various social media and websites. The transaction system has changed a lot since most people are busy with their work so online transactions are the best choice for many people. They use many systems, some use paypal, credit card, perfect money and the most become penomenal at this time that is digital currency like Bitcoin and Etherum. For me we are on the path of the conventional financial transaction system and toward the digital financial system.

pekavcilar01

newbie

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We live in technology age. We will not need to use cash in the future.
We can do what we want with smartphones.
See what we'll see in the future.

J Gambler

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Quote from: First77 on March 22, 2018, 03:43:51 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.

All you need to know about digital money http://www.digitalmoneytalk.com

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. See http://money-talk.org

How is digital money is your country ??

Bitcoin is a part of digital money.

For me digital money, is a cashless society, that would be the basis on how far we have transitioned from the paper money but also to the place in which we can really make the world a much more convenient place. Bitcoin has the power to do that, that cryptocurremcy can catapult and vault the rest of the cruptocurrency market for us to be able to make a dent in the future world. Once this is addressed then we can now have the bitcoin be the forefront of all this improvements

ghost07

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Quote from: First77 on March 22, 2018, 03:50:01 AM

Quote from: Marileno on March 22, 2018, 03:46:33 AM

I have spent alot of time in China and it is definitely not a cashless society

After 10 years, how is Bitcoin in China ??

maybe when 10 years from now i think bitcoin will already legal to china and it will be use in all their store to use as a payment method because it lessen the hussle in paying and receiving money. it will be a paperless society soon if bitcoin will be our worldwide currency.

virendarnagpal

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Quote from: Marileno on March 22, 2018, 03:46:33 AM

The process has certainly begun and started to pick up steam. Transitioning over to a 100% digital money economy is a long way away though. I have spent alot of time in China and it is definitely not a cashless society. Most of the population does not even have a bank account, let alone not use cash. That said, the process is moving, but it will be a long one.

Most of the people visiting foreign countries usually have to deal with the literate urban community. They rarely meet rural or illiterate population. There is definitely difference in life style among literate / illiterate, rural / urban people. When foreigners see most of the urban people using cards for payment they may misunderstand that all the citizens are using cards.
This may have happened with the OP here. In India also it's true that urban people use card but very less population form rural people prefer or even know how to use payment via cards / internet. A lot of efforts are needed in this direction. Though the current Government is very much active and doing best efforts to promote cashless trading. Within years definitely India will be cashless majority country.

godrey123

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Yes!! when you say digital money, that means cashless! you can transfer if anywhere and you can use it without even toughing it. And bitcoin has that capabilities! In the future bitcoin can become the digital currency of the future and many people will use it to buy stuff. All that is needs is for it to be more stable.

First77

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Quote from: Hallmader on March 22, 2018, 04:41:43 AM

Another thing, china is a very huge country and is mostly populated by poor citizens who are still using the hard fiat cash as their money.

Now 831 billionaires in China and 435 billionaires in USA. China could be a cashless society with 850,000,000 internet users.

Allura74

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Quote from: Direwolve735 on March 22, 2018, 05:42:00 AM

In my country people also gradually pass to cashless payments, but cash still has not lost its popularity, especially for older people who are extremely skeptical about money on cards and purchases on the Internet. I believe that in the future the society will become cashless, as it is much more convenient, less costly and environmentally friendly option of payment. I think Bitcoin and the other crypto-currencies will be the locomotive of "cashless society" progress. Because it is digital money that has fully demonstrated what it cashless payments completely mean.

Now a days electronics money like ATM card,debit card, credit card and other card that can be use to buy goods and services are rising and use by people in every society but it doesn't really means that it already a cashless society since paper money was still the most easiest way in direct transaction of buying little things for daily needs.

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