Wealth is wealth, no matter if it is digital or physical.
It is more the question how much does it cost to participate at the form of wealth.
A bank account for example is not for free if you have no regular income. At this point already the door for poor people can close because they can't afford a bank account.
Access to crypto currencies and cash is free in most cases.
Topic: Is an economy without physical money safe for the poorest? - page 10. (Read 3658 times)
If according to ekanomi without physical money is safe for the poor, it is not safe because the poor are in need of physical money economy.
This is a definite thing. When people are poor they even don’t have food to eat for a day then how the whole is just thinking that they will be using cards to get food. They will be using these transition method as a payment method for everything they just buy. Definitely this is so hard to happen. So better for them is physical money, yes they have chance to earn money from this digital money.
For me as of this time its not yet safe even good for the poor people, there are still a lot of adjustments that must be made in order for all the people to have a better understanding of living without physical money. Technology and advancement might bring prosperity but there are a lot of factors which we need to also consider like the great number of people or population who doesn’t have access to other financial means. Lack of knowledge of the devices to be used is also a factor. So I can safely say to this time of age its not yet safe to remove physical money but maybe in the future we can.
This may just pave the way for poverty to spread even more than it is today. Not all people have access to the internet. If that will be the case, crime rate may also increase. This scenario will prove to be more of regression rather than progression.
Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
No i dont think so, the poorest of the poor would be left behind. Many things to consider, the means to transact with cryptos (gadgets, internet provider etc) will be very hard for them since they can not simply afford it. Fees from transactions will be collected, imagine if they will buy a kilo of rice, maybe the fee will be much higher than the price of the commodity.
Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
No i dont think so, the poorest of the poor would be left behind. Many things to consider, the means to transact with cryptos (gadgets, internet provider etc) will be very hard for them since they can not simply afford it. Fees from transactions will be collected, imagine if they will buy a kilo of rice, maybe the fee will be much higher than the price of the commodity. 
If the security level on storage can be guaranteed, I'm sure it will be safe. Precisely it can make investment can not be seen. Like for example investing in this bitcoin.
Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
an economy without money is big advantages for those who has a lot of money or rich people. When you are in the lower bracket of community, you won't like things going paperless or via credit because it will only give you problem when its time to pay your bill. Average people prefer cash rather than paperless. 
if every people could earn some amount in one job and he can buy something with that non-physical money then I think it will good but it will not safe for the poorest because he could not buy something if he doesn't have fiat or non-physical money. we still need fiat for buying something in our real life for now, but if in the future, every product has an option payment that we could use then we can use both fiat and non-physical money.
Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
in this situation it is hard to believe that money now is involved or influence or is it now a digital currency, i see that poor people can't afford or they don't know what is the world doing now because of this digitalized currency.
I don't think that it would be a good thing for the poorest or the lowest kind of people in the society,
Just imagine it like bitcoin there would be a transaction fee for everything and look at the transaction fee in bitcoin it is too high for those who are just earning a small amount.
Just imagine it like bitcoin there would be a transaction fee for everything and look at the transaction fee in bitcoin it is too high for those who are just earning a small amount.
the old people would not be able even to purchase their medicine cuz it took ages for them to get familiar with even atm`s, I can`t imagine how long it would take for digital money
It would pose a great deal of problem to the poorest of the poor and the uneducated. Both can co-exist but none can eliminate the other.
I think it's relative, not everyone poor or poorest fails to understand, many of them are smart with various things, so too with this digital currency. money is just a tool, just know how to use it. poor is a pressure in the economy, because many rich people are trapped in poverty. because the world is spinning all can happen without us predict moreover we are not careful and unwise in making decisions, it will make us regret.
You could still give a beggar a paper wallet which he can then go and redeem for a bit of food
Imagine the situation in which we don't have any physical money and every currency is digitalized. The US dollar is now a token, the Japanese Yen is only in the network and the British pound is a fast-moving digital coin. What are the consequences of such an economy for the poorest of the population? Do you think that a few people can influence the digital wealth of people and wouldn't hackers be the best people to have as friends?
Wealth is transferable no matter the form in which it might be presented. So, I don't think wealth being in the digital form should be a limitation why the poor can't have it. Physical money is good and at the moment it is still indispensable until when the future comes and then cash is somehow then pushed aside. For now, the use of physical cash cuts across both rich and poor, so also when the digital cash comes to full use, it will cut across them both.
It only have the same scenario. Money doesn't give effect to the the status of a person either physical or digital, it only matters to person how they work hard to improved their living. Everyone have chances to grow, if they really want to move and find a better way.
If according to ekanomi without physical money is safe for the poor, it is not safe because the poor are in need of physical money economy.
This is a definite thing. When people are poor they even don’t have food to eat for a day then how the whole is just thinking that they will be using cards to get food. They will be using these transition method as a payment method for everything they just buy. Definitely this is so hard to happen. So better for them is physical money, yes they have chance to earn money from this digital money.If according to ekanomi without physical money is safe for the poor, it is not safe because the poor are in need of physical money economy.
This is a definite thing. When people are poor they even don’t have food to eat for a day then how the whole is just thinking that they will be using cards to get food. They will be using these transition method as a payment method for everything they just buy. Definitely this is so hard to happen. So better for them is physical money, yes they have chance to earn money from this digital money. I think digital currency is more favorable for the rich rather the poor, because the rich has always has this access to digital money because they have much money to keep it through it, they don't have to carry a lot of cash to carry on their wallet or bags, while the poor needs to have it, they need cash if it is a single centavo, how can they be able to transact through digital money it is not safe for the poor
The worst part is that the poor people in the society won’t be able to make use of it, cause they don’t have any access to the internet. Digital currency or electronic money is not something that can be used without internet and devices. So a world without cash is real bad.Jump to: