Imagine a cashless society - page 16.

yanlap

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Quote from: RamonBTC on April 13, 2018, 12:59:27 AM

In my country living in, a cashless living is possible. It’s more of your choice, we can pay everything by just sitting in our room or using cards if we go shopping. Scan and pay is now a trend in our place of residence and that is advantageous to us in such way that lines will be shorten and much efficiently done without money change.

This cashless transaction is available in almost all country, but it remain as our choice if we do the same or do what comfortable to you.

That still is not a cashless society. Ultimately, the amount is being transferred in the form of paper money. Your dealings will be still in your local currency and that is absolutely paper money. Cash is involved and honestly, it is not possible to have a cashless society at the present moment. With the passage of time, when digital currencies will overtake paper money, it might become possible.

BChydro

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@OP it is a good thought process and we might see this in the future, but the most important thing we need to understand is the transaction charges they are going to charge for these transactions, to see the world going all in for a cashless society we need more time as there are other basic problems to be sorted, even now we can get anything virtually.

1NV3ST0NM3

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Banks still provide this service USA is already a pretty much cashless society but I think main thing will be when it happens with crypto that would be great if it happens. There would be no need for carrying cash all the time. This will also eliminate the risk of our money getting stolen or lost and moreover unlike banking money eliminates risk of money getting hacked too. The transaction time will reduce. We will also be able to transfer money around the globe. But I think governments will allow this by introducing new cryptocurrency with some regulations.

Rossy Akbar

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Well, it would be so awesome because technology were so much profit nowadays, but don't forget in each country there are backward society which is we can't let them down even we need to help them, maybe only time can answer those imagination.

GalaxyWorld

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Currently, the blockchain technology I see is very good. But it can not completely replace paper money. Because paper money is suitable for small daily payments we need to spend.

Manchumichael

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Quote from: karanggatak on April 13, 2018, 07:48:01 AM

Yes it is very possible, over time credit or debit card will be inefficient if made as a transaction tool, I myself have experienced it right now, in my wallet too many debit cards that make it full, it shows that the cards are less efficient, in the future we can be sure we will all use our smartphones more often to transact because it is more efficient and more simple if all in one grip.

Now already new trend started you no need to carry your credit/debit card just your smartphone is enough. We can pay our bills through some 3rd party billing apps and they will give good offers also. i saw one Samsung mobile model number i don't know in that mobile you can save your all debit/credit cards while paying bills just tap your mobile and enter a passcode. definitely one day we will see cashless society.

EdenHazard

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Now it's was happening in some countries like japan, US and Denmark and other countries who accepted bitcoin and cryptocurrency. They already use bitcoin as a means of payment, even Denmark will wipe out the money cash and be replaced with digital money. Using digital money is very easy for human to help everyday life. Unlike the credit card if it runs out we need to bank to refill, but digital currency such as bitcoin enough to use the internet alone can be replenished.

But in the facts there are still some countries that prohibit bitcoin and cryptocurrency. They reasoned cryptocurrency would only bring inflation in his country, and the decentralized system, anynomous is another reason they forbid cryptocurrency. I don't expect the future of cryptocurrency to be acceptable to all countries because it is impossible, I just hope some countries that forbid cryptocurrency just forbid as payments system not to ban as a place of trading or investment.

butcherme

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Quote from: Wabaman on April 10, 2018, 08:50:19 PM

Just by using your phone, you could purchase almost anything. No need to withdraw on an atm. No more heavy coins on your pocket. Paying bills, and purchasing tickets without standing on a line. Very convenient and less time consuming. I know we're already using credit cards right now, but using a single currency like bitcoin world wide could really help on transaction, having less error than the normal and faster transfer and of course the security. Do you guys think this could happen in the future of bitcoin?

It can happen in the future. But, we all know that not everyone accepts bitcoin and cryptocurrency yet. Some countries are against bitcoin and some arw learning about it. If mass adaptation happens, a cash less society can happen.

karanggatak

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Yes it is very possible, over time credit or debit card will be inefficient if made as a transaction tool, I myself have experienced it right now, in my wallet too many debit cards that make it full, it shows that the cards are less efficient, in the future we can be sure we will all use our smartphones more often to transact because it is more efficient and more simple if all in one grip.

tanghere02

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Yes I could actually imagine a cashless society, in fact it would be so much easier for the people to not carry cash with them especially if they travel outside the country. But I don’t think cash would be fully dilinquished because their would be other countries that are left out and does not have access to the internet.

1Referee

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Quote from: alyssa85 on April 13, 2018, 07:05:45 AM

It's got to the stage there were most bank branches refuse to let you withdraw cash. I think that's scary.

It is scary. Another thing that I noticed myself, is that ATM's lowered the max amount of money that you can withdraw per day significantly. I think it's safe to say that they are trying to lower the potential damage of a bank run in case it happens. If a bank doesn't allow you to withdraw your own money, or spend it through their ecosystem the way you want, then it's time to look for a different bank. I noticed that in most cases the smaller banks do a much better job in providing their customers the service and usability they deserve to have and pay for. The only negative aspect of smaller banks is that they are mostly not as wide spead with their offices, but that's something you have to accept. Everything better than using the shitty large banks not caring about you.

YNAGS Team

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It is not so far from us this days. It is a common thing for people from some countries not to grab with them cash at all, just paying with NFC and cards, so yeah...

alyssa85

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Sweden is the closest thing we have to a cashless society and they are starting to worry about the consequences:

http://www.bbc.co.uk/news/business-43645676

Quote

Sweden is winning the race towards becoming the world's first completely cashless society, but there are growing concerns it's causing problems for the elderly and other vulnerable groups.

It's got to the stage there were most bank branches refuse to let you withdraw cash. I think that's scary.

Sidiq SP

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I can say yes, because all in this modern era is very likely to happen something like that, and in some countries have begun dw develop towards it, such as for example in japan country that makes bitcoin as a valid payment instrument, go from it , I am increasingly convinced that more advanced technology will be prepared for every bitcoin user convenience, and I believe in that

TheClownSong

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Quote from: Wabaman on April 10, 2018, 08:50:19 PM

Just by using your phone, you could purchase almost anything. No need to withdraw on an atm. No more heavy coins on your pocket. Paying bills, and purchasing tickets without standing on a line. Very convenient and less time consuming. I know we're already using credit cards right now, but using a single currency like bitcoin world wide could really help on transaction, having less error than the normal and faster transfer and of course the security. Do you guys think this could happen in the future of bitcoin?

I am believe thats already happened in advance country. With advance internet infrastructure, government can implemented digital currency. Twitter CEO recently said that bitcoin can be single currency on digital world. If internet connection around the world getting better than now, I am believe that prediction become happen

Qungis

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This is possible if the European Union decides to use bitcoin on a par with the Euro. Agree, they will not smoke as much weed to do it.

Coffee135

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Quote from: passwordnow on April 13, 2018, 06:22:26 AM

Quote from: Wabaman on April 10, 2018, 08:50:19 PM

Do you guys think this could happen in the future of bitcoin?

You mentioned all those transactions that are actually happening already so we don't have to think about this in the future because we are already making it possible. I'm enjoying paying bills online with bitcoin and it totally helps to save a lot of time, effort and money including the fare since I don't have my own car yet. We are already the future and things that are securing right now such as transactions will be continuous. So to those that are still in doubt of bitcoin, they'll regret for the upcoming years if they don't have it right now.

Tell me how do you pay the fare with bitcoins? Even now, when the transaction price has dropped to a minimum, it is not profitable. All users change bitcoins to Fiat and only then use a credit card for payment. It should take a long time for bitcoin payment to become a reality.

passwordnow

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Quote from: Wabaman on April 10, 2018, 08:50:19 PM

Do you guys think this could happen in the future of bitcoin?

You mentioned all those transactions that are actually happening already so we don't have to think about this in the future because we are already making it possible. I'm enjoying paying bills online with bitcoin and it totally helps to save a lot of time, effort and money including the fare since I don't have my own car yet. We are already the future and things that are securing right now such as transactions will be continuous. So to those that are still in doubt of bitcoin, they'll regret for the upcoming years if they don't have it right now.

ismelda_ita

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Quote from: Wabaman on April 10, 2018, 08:50:19 PM

Just by using your phone, you could purchase almost anything. No need to withdraw on an atm. No more heavy coins on your pocket. Paying bills, and purchasing tickets without standing on a line. Very convenient and less time consuming. I know we're already using credit cards right now, but using a single currency like bitcoin world wide could really help on transaction, having less error than the normal and faster transfer and of course the security. Do you guys think this could happen in the future of bitcoin?

of course, I am sure future payments are the future for the cryptocurrency. now there are already some companies and stores that accept bitcoin as their transaction tool.

mOgliE

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I hope it could happen but I think it won't.

The issue is that using the same money everywhere on the planet would mean that all governments have found some kind of agreement. And they don't even manage to make agreement about the environment! And even when they sign something, they don't stick to their promises...

So yes, bitcoin would be a great worldwide currency. But I think it won't happen...

Topic: Imagine a cashless society - page 16. (Read 1802 times)