Topic: Why we should fear a cashless world - page 12. (Read 9827 times)
Why is it that I don't have the idea of fearing the cashless society. I've always known that money are parted in both ways: physical and digital. And in digital money is also a cashless system or thru card system. I don't think theres a problem in it and economics could go with the absence of one as long as everybody has a card on a cardless society and monitoring system (ATM) as well. Just my point of view.
Bitcoin or other latest instruments or mode of currencies are used only in developed or developing countries. Still a large amount population is living below poverty line. They are not even aware of such currencies. For them fiat cash is the only and most convenient mode of transaction. If world decides to go for cashless option, these are the first persons getting destroyed. If we go for cashless dependency on banks and similar institutions will increase, they may detect us. Each and every transaction done by us will recorded and scrutinised. Sweden is having cashless economy, but it is not possible for every part of the world.
I disagree. I think all society rely on money, and in fact the banks, governments and rich people depend on money more then the poor and small business, a lot more. Because this days, money is power. In my opinion, a cashless world will make the people accept each other easier and we will be more equal, of course if we will life in a society that is cashless by choice not because of war, crises or stuff like that.
WE should fear ..
Because it might have some cruel in this world.How can we get some goods that we want if we don't have any cash to get it..
What do you want ? We only use some cards to get it how about the street vendors how do we pay them?
Because it might have some cruel in this world.How can we get some goods that we want if we don't have any cash to get it..
What do you want ? We only use some cards to get it how about the street vendors how do we pay them?
Its really possible. We feel fear today because we haven't been there yet. If we look back how money or medium of exchange evolve from barter to paper bills now, well you will really be amazed of how ancient people do it. Practically, we should not fear of having cashless world in the future. Whatever will be, will be. Its the future's destined to be then it will be. All we can do is to be open minded and be willing to adapt the changes in the world.
Having a cashless world will have a low economy because there is no certain money circulates in the world and the world can be back to past were people exchanging animals for goods and its hard for other people to have that because of the poor living.
We should fear a cashless world specially those developing countries cause half sections of that society in rural areas is illiterate and poor. For this reason the lack of education is very disadvantageous as far as the cashless economy is concerned. Although it is easy to do online transactions but for those people who don't have the knowledge, they will be the victim of online scam, hacking of bank accounts and cyber fraud.
I think we need to ensure that people are educated properly on how to deal with debit and credit cards and also about the cashless payment system. It is inevitable and the best thing to do is to make people aware and get them prepared for any events such as hacking, fraud, etc. It is not easy to do it, but definitely worth the efforts.
Having a cashless world will have a low economy because there is no certain money circulates in the world and the world can be back to past were people exchanging animals for goods and its hard for other people to have that because of the poor living.
We should fear a cashless world specially those developing countries cause half sections of that society in rural areas is illiterate and poor. For this reason the lack of education is very disadvantageous as far as the cashless economy is concerned. Although it is easy to do online transactions but for those people who don't have the knowledge, they will be the victim of online scam, hacking of bank accounts and cyber fraud.
I think we need to ensure that people are educated properly on how to deal with debit and credit cards and also about the cashless payment system. It is inevitable and the best thing to do is to make people aware and get them prepared for any events such as hacking, fraud, etc. It is not easy to do it, but definitely worth the efforts.
Having a cashless world will have a low economy because there is no certain money circulates in the world and the world can be back to past were people exchanging animals for goods and its hard for other people to have that because of the poor living.
We should fear a cashless world specially those developing countries cause half sections of that society in rural areas is illiterate and poor. For this reason the lack of education is very disadvantageous as far as the cashless economy is concerned. Although it is easy to do online transactions but for those people who don't have the knowledge, they will be the victim of online scam, hacking of bank accounts and cyber fraud.
Having a cashless world will have a low economy because there is no certain money circulates in the world and the world can be back to past were people exchanging animals for goods and its hard for other people to have that because of the poor living.
Eventhough than cashless has its advantage, it is really scary to become a cashless world. Imagine a bank can easily control and manipulate our money and it can be easily freeze so that you wont be able to use it. It might also promote corruption as it takes a lot of process to investigate a transaction and we might just get tired of it.
Cashless society is not bad if that will happen in the future, and this things is unstoppable because technology evolving and become better, so cashless so society in the future is the product of evolving good technology.
Cash is good and cashless world is not good because if we totally dependent over the electronic money or digital money then if there is a problem sometime in the digital currency like the internet is not working somewhere properly how they will utilise their money while cash is used everywhere in the presence and absence of electricity they can fulfil their needs through cash. the less educated people can use cash easily. Crypto is good but cash is also important for us.
Cashless world makes all your transactions traceable, bank and other payment methods can be access those personal info. It is convenient to use cash in small transactions like buying candy bar in store with direct payment hassle free.
Transparency and tracking is a very complicated issue, but ultimately the world will require it to be used and leave the already obsolete payment patterns, we are living in the gates of the digital generation era.
The scariest one is that no one can guarantee digital security because it always has security holes, especially crypto currency. I think there are some things that make us keep making traditional payments, the main factor is the minimization of cyber crime.
Cashless world makes all your transactions traceable, bank and other payment methods can be access those personal info. It is convenient to use cash in small transactions like buying candy bar in store with direct payment hassle free.
I think this is something I can not imagine, If in this world there is no money, it is certain that the industry will not grow as fast as it is today. We know that various industries are competing to make as much money as possible. If there is no money, competitiveness and creativity will decrease dramatically. People will not think of gadgets or other electronic goods. Can you imagine, if no money, what goods should be exchanged to get a gadget? By land or gold?
A world without cash will be bad for small communities and small businesses. Because the technology has not covered the entire community and still includes upper-level society and business on a larger scale.
That is the problem of third world countries, not all of the people there are expecting that the currency they are currently using will be changed, and they are used to using this kind of currency. Do you think people will just accept this kind of currency that will be used in their everyday just like that? I think now, people will be fighting to things that they used to do and use, and I think currency is also one of them.
Fear from hacking because if all of your money are now cashless it is prone to be hacked by someone and worrying this money will not return back to you.
The main issue is that people do not want to know about how the online wallet works but want to have this facility. If we take a little tutorial before adapting to online wallets, we can stay safe from the hackers around the world. Some people have their passwords so weak that even the person who knows nothing about hacking ends up hacking them. Knowledge about the security of the online wallet system is really very mandatory if you want to save yourslelfComputer and internet is not a security guarantee and that’s why people are afraid of digital currency. No one can give surety of a secure bitcoin wallet.
We were fear to cashless world because in this kind of society we have no assurance. Why? Because technology is made by people, some innocent people were possible to hack or steal their money without knowing and it's hard for them to determine what happen? Also systems of all digital currencies had no hard security to protect the amount of all users. Moreover there were no insurance for the people who save high amount, it means that savings in digital world was taking your own risks too.
World can easily survive without cash with no problem but the system of world can’t run smoothly without money because if the world was cashless then people has to use some good for exchange like the old times, which is also a mean of cash so the system of world can’t survive without cash because now it is a need of world. Moreover I think no one fear cashless world because everyone has his own idea that how to survive in a cashless world.
For me I never want to see this situation and I never dream it, because its too technical, what I mean is natural and simple way of living will be extinct and thats not my visoin of life, I want to stay with this kind of life.. Just like I can pay my bills through my cash from my pocket, I can pay my ice cream using my coins, I will lost my wallet because of my being clumsy. And I dont see all my profits will be in digital way, I have red some that it maybe a way to punished someone like if your not a good one, they may closed all your account , see? it's terrifying and unconditional. And the other reason why I don't want to living with technology is how those people who don't have enough idea or knowledge about of technology or about of this.. Many of people has no weapon to start a battle with this kind of livelihood..
I do not think we should worry too much about a world without cash, because towards that tendency the modern currents of the economy seem to be directed as multiple studies by expert economists have shown. However, I think that to reach that moment there is still a long time to go, because certainly there are large sectors of the world population that do not have the means to access the necessary technologies to integrate and live in a cashless world.
Jump to: