Topic: Future of digital money depends on smart phone technology and people's knowledge - page 2. (Read 1170 times)
October 16, 2019, 08:33:45 AM
Bitcoin has already been integrated into the smartphones by means of apps owned by certain companies. Here in the Philippines it is easy to use bitcoin because of the company called coins.ph where we can send bitcoin to other coins.ph bitcoin wallet in seconds. As long internal transactions are made sending and receiving is easy and fast. But the problem is that even with the technology people still doubt bitcoin because of the presence of scammers who use bitcoins as their mode of transactions. Aside from that the bitcoin bubble have caused many people to lose much of their money and is now afraid to get into bitcoin. Bitcoin enthusiasts never leave bitcoins side but ordinary individuals who are just here for profit does not give a damn about bitcoin if we talks about the possibility of losing a value.
October 16, 2019, 04:51:38 AM
1. Qualifications and knowledge of the people. Because the majority of people today do not fully understand block-chain and technology. So if you want to use cryptocurrency like paper money today, all people have to know how to use technology
People don't have to understand the technology in order to use crypto currencies as a payment system. Do you think that 3 billion people, who use the Internet, understand how it works? Yet, most of them use it on a regular basis.
2. Smart phones - Must be integrated with technology to make it convenient for people to use
I think it's done already, and not only by one company.
3. Simplification of cryptocurrency developers. How can people easily use like paper money.
This is what we really need, and it's on developers, not on regular people. We need the technical ability to perform thousands transactions per second without losing decentralization and security.
October 16, 2019, 04:28:19 AM
I think technology is not going anywhere one way or the other we are going to adopt technology at full scale and then we will not be worrying about future and development of btc because it's obvious that it will grow with technology.
October 16, 2019, 04:24:50 AM
I completely agree with the initial concept like this, if the user here says blockchain to your neighbor then some of your neighbors will be confused. whereas if you say bitcoin to your neighbors, surely they will know. many people around the world still do not understand the blockchain technology that underlies the existence of a digital currency. so the first thing to do if there is a community that wants to make digital currency a legitimate alternative to transactions in the global scheme, then an understanding of blockchain technology must be spread.
I agree. Understanding how blockchain works is the first thing you need to know for widespread adoption of crypto
October 16, 2019, 04:01:47 AM
Great points, OP. There are several measurements how these digital money's development grow. Technology keeps on growing fast. But sad to say, there are still people who are left behind of this kind of advanced technology we are talking about.
Problems we are facing even though technology has been developed worldwide, mass adoption is still not achieve because of this few things;
-not all people have smart phones
-there are still people in remote areas that doesn't know that such internet exists.
-lack of knowledge.
-not all businesses are open for the blockchain technology and crypto payments
Problems we are facing even though technology has been developed worldwide, mass adoption is still not achieve because of this few things;
-not all people have smart phones
-there are still people in remote areas that doesn't know that such internet exists.
-lack of knowledge.
-not all businesses are open for the blockchain technology and crypto payments
October 16, 2019, 03:07:10 AM
All of us - the people present on this forum all know Bitcoin and all coin famous.
But I think the future development of digital currencies to replace banknotes or banks depends greatly on one of the following factors:
1. Qualifications and knowledge of the people. Because the majority of people today do not fully understand block-chain and technology. So if you want to use cryptocurrency like paper money today, all people have to know how to use technology
2. Smart phones - Must be integrated with technology to make it convenient for people to use
3. Simplification of cryptocurrency developers. How can people easily use like paper money.
And what do you think about my opinion?
I completely agree with the initial concept like this, if the user here says blockchain to your neighbor then some of your neighbors will be confused. whereas if you say bitcoin to your neighbors, surely they will know. many people around the world still do not understand the blockchain technology that underlies the existence of a digital currency. so the first thing to do if there is a community that wants to make digital currency a legitimate alternative to transactions in the global scheme, then an understanding of blockchain technology must be spread. But I think the future development of digital currencies to replace banknotes or banks depends greatly on one of the following factors:
1. Qualifications and knowledge of the people. Because the majority of people today do not fully understand block-chain and technology. So if you want to use cryptocurrency like paper money today, all people have to know how to use technology
2. Smart phones - Must be integrated with technology to make it convenient for people to use
3. Simplification of cryptocurrency developers. How can people easily use like paper money.
And what do you think about my opinion?
October 16, 2019, 02:31:23 AM
In addition to these three points, there is one more thing that must be met if cryptocurrency really will replace fiat: the development and equitable distribution of supporting facilities and infrastructure. We know that in some places it is still difficult to get internet access, whereas cryptocurrency fully requires it.
Although in some aspects cryptocurrency is more profitable than fiat, it does not mean that cryptocurrency will replace fiat. Because one of the weaknesses of cryptocurrency is in regulation. So it would be better if both, fiat and cryptocurrency complement each other and be used side by side to facilitate human activities in investment, trade, and other economic activities.
Although in some aspects cryptocurrency is more profitable than fiat, it does not mean that cryptocurrency will replace fiat. Because one of the weaknesses of cryptocurrency is in regulation. So it would be better if both, fiat and cryptocurrency complement each other and be used side by side to facilitate human activities in investment, trade, and other economic activities.
October 15, 2019, 05:16:50 PM
All of us - the people present on this forum all know Bitcoin and all coin famous.
But I think the future development of digital currencies to replace banknotes or banks depends greatly on one of the following factors:
1. Qualifications and knowledge of the people. Because the majority of people today do not fully understand block-chain and technology. So if you want to use cryptocurrency like paper money today, all people have to know how to use technology
2. Smart phones - Must be integrated with technology to make it convenient for people to use
3. Simplification of cryptocurrency developers. How can people easily use like paper money.
And what do you think about my opinion?
But I think the future development of digital currencies to replace banknotes or banks depends greatly on one of the following factors:
1. Qualifications and knowledge of the people. Because the majority of people today do not fully understand block-chain and technology. So if you want to use cryptocurrency like paper money today, all people have to know how to use technology
2. Smart phones - Must be integrated with technology to make it convenient for people to use
3. Simplification of cryptocurrency developers. How can people easily use like paper money.
And what do you think about my opinion?
What can we think would be the reason why? In terms of smart phone technology, nowadays, people are mostly more attached to their mobile phones rather than on their computer or laptop. In this case, the necessity and needs are then focused on the development of applications in the solely purpose of supplying the needs of the users and one particular thing is about blockchain, crypto and the utilization of cryptocurrency and blockchain technology.
October 15, 2019, 02:40:02 PM
One important factor the OP forgot to mention is governmental and institutional support. We need the political will for developers who are actively involved in blockchain technology to thrive well. For most companies who are actively involved in the manufacturing of smart phones and other electronic gadgets are already doing pretty well to make them very user friendly for all cryptocurrency users.
October 15, 2019, 02:07:20 PM
the greatest potential for change is likely to be in the human lifestyle, especially in terms of its socialization. The reason will increase activities that do not have to deal directly, because it can be done on the internet network. It's not enough to end there.
The confidentiality system (anonymous) that has been implemented in the world of cryptocurrency has the potential to have negative activities by unscrupulous elements.
The confidentiality system (anonymous) that has been implemented in the world of cryptocurrency has the potential to have negative activities by unscrupulous elements.
The future is sadly not going to be face to face trading. We've been going towards it for many years first by enabling credit card payments over the Internet, followed by payments systems like paypal and and finally cryptocurrencies. Now even banks don't want cash anymore because it's easier for them. No more transporting money, no more counting, no more checking for counterfeits. It's not only the future of crypto but all money. We will go digital anyway crypto or not.
October 15, 2019, 10:18:02 AM
We are more and more depending on our mobile phones, our wholw life we have on it. That especialy refers to young generations who want everything to be available at one place at one click. So if cryptocurrencies will be available as a payment method through smartphones they have great chance to survive on longer period of time.
Our lifestyle is changing all the time and every technology that wants to be accepted long term must be very flexible and available in all forms, their creators should be able to envisage future in order to become and stay successful.
Our lifestyle is changing all the time and every technology that wants to be accepted long term must be very flexible and available in all forms, their creators should be able to envisage future in order to become and stay successful.
October 15, 2019, 09:57:17 AM
You are not too far from the truth mate. Imagine the number of scams and wrong transactions that could have been avoided if people had the knowledge about making transactions with the use of cryptocurrencies. Integrating cryptocurrency wallets with phones has been a very useful tool as it makes people have access to their funds at any point in time. Crypto enthusiasts need to serve as advocates and start educating close friends and family members about cryptocurrencies.
October 15, 2019, 03:50:21 AM
The second point is much more important than the technology on the smartphone
October 15, 2019, 02:33:28 AM
the greatest potential for change is likely to be in the human lifestyle, especially in terms of its socialization. The reason will increase activities that do not have to deal directly, because it can be done on the internet network. It's not enough to end there.
The confidentiality system (anonymous) that has been implemented in the world of cryptocurrency has the potential to have negative activities by unscrupulous elements.
The confidentiality system (anonymous) that has been implemented in the world of cryptocurrency has the potential to have negative activities by unscrupulous elements.
October 15, 2019, 01:37:33 AM
your opinion is actually good, I also think like you, but in my opinion not everyone can adapt well to cryptocurrency because some of them are illiterate, so those who are illiterate will not use cryptocurrency to transact because they do not understand the current technology. in fact, if a smartphone is integrated with shipping technology, it might be easier for us to transact with digital currencies compared to transacting paper currencies.
October 07, 2019, 09:39:22 AM
All of us - the people present on this forum all know Bitcoin and all coin famous.
But I think the future development of digital currencies to replace banknotes or banks depends greatly on one of the following factors:
1. Qualifications and knowledge of the people. Because the majority of people today do not fully understand block-chain and technology. So if you want to use cryptocurrency like paper money today, all people have to know how to use technology
2. Smart phones - Must be integrated with technology to make it convenient for people to use
3. Simplification of cryptocurrency developers. How can people easily use like paper money.
And what do you think about my opinion?
I think you forgot to emphasize the importance of achieving merchant adoption first - which in essence, is a critical factor on achieving total mass adoption and without it, usage of cryptocurrencies would only be restricted to a select few and will eventually falter.But I think the future development of digital currencies to replace banknotes or banks depends greatly on one of the following factors:
1. Qualifications and knowledge of the people. Because the majority of people today do not fully understand block-chain and technology. So if you want to use cryptocurrency like paper money today, all people have to know how to use technology
2. Smart phones - Must be integrated with technology to make it convenient for people to use
3. Simplification of cryptocurrency developers. How can people easily use like paper money.
And what do you think about my opinion?
As with the case in my country, assuming we could have at least 5 merchant adoptions everyday like convenience stores, groceries, gas stations, supermarkets, coffee shops, restaurants.etc. which, in a span of 2 years, it might produce a vibrant crypto economy allowing the crypto industry to further flourish.
I guess we all just need some basic understanding of blockchain technology and an intuitive and user friendly interfaces for these kinds of crypto applications. Moreover, without these abstractions, blockchain tech and cryptocurrency will have a very high degree of learning barrier, which I'm afraid, mass adoption is near to impossible but look at us now, the number of crypto enthusiasts are growing everyday, thanks to all the developers who had contributed so much in this industry.
October 07, 2019, 05:45:36 AM
The most important thing is that these people must have knowledge of today's technology, curiosity must always be there. It's useless to have a good smartphone but knowledge of digital money or digital economy is lacking. Without a smartphone we also can still access things related to digital money. I used to not have a smartphone or the like I just used a computer and laptop to upgrade my knowledge.
October 07, 2019, 05:25:16 AM
All of us - the people present on this forum all know Bitcoin and all coin famous.
But I think the future development of digital currencies to replace banknotes or banks depends greatly on one of the following factors:
1. Qualifications and knowledge of the people. Because the majority of people today do not fully understand block-chain and technology. So if you want to use cryptocurrency like paper money today, all people have to know how to use technology
2. Smart phones - Must be integrated with technology to make it convenient for people to use
3. Simplification of cryptocurrency developers. How can people easily use like paper money.
And what do you think about my opinion?
But I think the future development of digital currencies to replace banknotes or banks depends greatly on one of the following factors:
1. Qualifications and knowledge of the people. Because the majority of people today do not fully understand block-chain and technology. So if you want to use cryptocurrency like paper money today, all people have to know how to use technology
2. Smart phones - Must be integrated with technology to make it convenient for people to use
3. Simplification of cryptocurrency developers. How can people easily use like paper money.
And what do you think about my opinion?
I would like to add on your list some factors to consider before the world shifts the fiat system to digital currencies in the future:
- Acceptability - the world cannot just shift to a digital currency if the governments of some country do not accept it as the new medium of exchange;
- Adaptability - due to economic discrepancies among developed, developing, and underdeveloped countries, this would significantly prejudice countries who have different priorities regarding their current economic and financial state;
- Technology of the medium - if the world were to shift to a digital currency, it must agreed upon what kind of currency would they reproduce. Since everything that exists in the internet is subject to scams and hacks, the technology behind the currency must be absolute and unalterable for the convenience of everyone.
Contrary to what everyone is saying about bitcoin replacing the traditional fiat system, this will not happen anytime soon as the supply of bitcoin is only limited to 21 million. Meaning, people who own the majority of the coins can control and manipulate the price on the market.
October 07, 2019, 04:01:36 AM
I agree. if in the future every technology based online network. the mobile phone software development at this time is extraordinary because any types of applications can be add on mobile phones. the possibility of crypto-based applications will switch to the development towards mobile phones. if its yes. in order to pay attention to the UI application to be more friendly, so crypto app will easily used by even a kid.
October 07, 2019, 03:41:12 AM
yea,i agree. the future of currency has to be better than the former. ease of usage and easy understanding is a key a factor. thanks for bringing up this topic
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