Topic: Why we should fear a cashless world - page 2. (Read 9827 times)
We should not fear a cashless world ,because it will have a good planning so that the world will not be in chaos, when using the digital payments and transactions, the cashless society is the most advance technogy to happen but of course there are already advance planning for this modern technology in the digital world.
A cashless society is giving complete control over to the bankers.
When implemented (which will happen sooner rather than later) you can expect the following -
1) Negative interest rates - spend your money or watch the balance shrink daily
2) Bail in's - Laws already in place, you are classed as an investor in the bank. When the bank folds you loose your cash.
3) No more bank runs due to point 2 as there is no longer any physical money to withdraw.
4) Every transaction you make is logged and audited.
5) Not classed as a "good" citizen, they will freeze your account leaving you destitute instantly.
Your wrong bro. There is no reason to fear if cashless society will happen in the future world because this will help the world become more better and every transaction will become convinient, a time saving transaction. You maybe have some points on your proposition and you become so much worried with this. But remember bro that we are approaching the future and the there are many things that are not yet discovered and I believe that one of these things are the solutions. When implemented (which will happen sooner rather than later) you can expect the following -
1) Negative interest rates - spend your money or watch the balance shrink daily
2) Bail in's - Laws already in place, you are classed as an investor in the bank. When the bank folds you loose your cash.
3) No more bank runs due to point 2 as there is no longer any physical money to withdraw.
4) Every transaction you make is logged and audited.
5) Not classed as a "good" citizen, they will freeze your account leaving you destitute instantly.
it is very difficult to lose money in the world when the world's money loses the economy because it's bad for people because they know they do not have to worry about it, and yet if there is no money in the world it's probably foolish when people are going to be the reason they are, why should they work while they do not need money,
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
The only way for them to survive is also to adapt it. And don't you ever worry about that thing right now since it will have a long time to happen.
As for now some of us using cashless. Many people use credit card, and sometimes bitcoin can also use to buy things and this is only happen to the store who accept bitcoin, for sure in the future many people will use bitcoin if they see how it works.
This cashless world might happen in the near future. As for today everybody are using credit cards for their purchase or use their debit cards. They may also purchase item without the need of going out of your home. The product will be delivered right to your doorsteps. So time will come cashless society will emerge.
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
The only way for them to survive is also to adapt it. And don't you ever worry about that thing right now since it will have a long time to happen.
Business occurred in our daily basis only depends on a cash. All types of transaction do practice using only by cash. Business establishment most of them depend on cash basis and person to person transactions. It will be somehow very difficult for people to move without cash on hand like buying a fresh cooked food and others..
If the world does not use cash, using virtual currency is very risky. This is a chance for hackers to be duped and misappropriating fraudulent accounts. So many people will fear. I do not believe Crypto will replace cash in the future. 
Poor people and small businesses rely on cash. A contactless system will likely entrench poverty and pave the way for terrifying levels of surveillance
http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
Crypto's are the most efficient and convenient to use rather than paper money, With regards to poor people, I guess government will find solutions for poor people if the time may comes. http://www.theguardian.com/money/commentisfree/2016/mar/21/fear-cashless-world-contactless
Discussion
Fiats world are much much better btcs which has no physical contact with it. And dealing in it is much less hassle
Again, we need infrastructure. People can just transact with their DNA signature or whatever. Come on. Cashless will make the society prosper. The poor will have access to any trade just with their whatever we can think of.
I don't see any reason to be afraid except those who are not knowledgeable about cashless transactions, mostly technology illiterate people.
Phishing sites are mostly used today and those who no less of it are prone to be hacked and their security to be compromised.
Phishing sites are mostly used today and those who no less of it are prone to be hacked and their security to be compromised.
There is nothing to fear and trust that is the best way to go about it.
We should fear it only if the cashless world only have internet to use as a wallet,
Because hackers could easily get their money,But if there is an offline wallet that could be used like trezor or Nano ledger then I don't think that we should fear it except for the huge transaction fee I don't see any other problem in it.
I think if we know about digital currency so we should never fear about cashless world because bitcoin can fulfil our all needs but it will difficult for those persons who didn't know about bitcoin and they cannot join this as like uneducated people, so they will fear from cashless world otherwise we can handle without paper money. Because hackers could easily get their money,But if there is an offline wallet that could be used like trezor or Nano ledger then I don't think that we should fear it except for the huge transaction fee I don't see any other problem in it.
We should fear it only if the cashless world only have internet to use as a wallet,
Because hackers could easily get their money,But if there is an offline wallet that could be used like trezor or Nano ledger then I don't think that we should fear it except for the huge transaction fee I don't see any other problem in it.
Because hackers could easily get their money,But if there is an offline wallet that could be used like trezor or Nano ledger then I don't think that we should fear it except for the huge transaction fee I don't see any other problem in it.
Cashless economy is good concept but it has some problems like cyber attack,fraud,power outages. Because all transactions will be done by the electronically,so we have to trust on gov.or other third party.
True, cashless society is really a very complicated thing in my opinion. There are just so much things that are involved which I think cannot be covered yet because of the lack of technologies on some areas in this world. Plus the fact that crypto currencies as of today has more cons than pros, I think that this world will crumble if a cashless society is forced at this state of the world and the crypto industry. While I am sure that time for this will come, I think that taking things slowly but surely is the best choice.
I concur with this announcement. While I like the possibility of a cashless society I don't care for the likelihood that independent company or the poor will become lost despite a general sense of vigilance. Possibly the idea of the "essential living" through crypto would be useful for that to ensure that it is dispersed similarly, at that point obviously you can make considerably more past that through a semi-free enterprise framework.
Cashless economy is good concept but it has some problems like cyber attack,fraud,power outages. Because all transactions will be done by the electronically,so we have to trust on gov.or other third party.
The reason I am personally concern with the world going cashless is the difference in technological advancement. Like where I reside you can not get any thing with BITCOIN directly. Beside it's even hard to get BITCOIN sometimes and even some paper money banks take forever to transfer noney so many businesses in my area don't even allow cash transfer. To me running a cashless world in my country and continent will bring untold hardship that will lead to the death of so many people if not all
In the world full of credit card, this may affect small businesses. But then if we shift to a cashless society, it doesn't mean that there is no literally cash involve. It's just tangible cash becomes intangible cash.
Think about a world without cash, what will happen. In Vietnam this is very bad. How will small daily trading activities take place? Can not buy a plate of rice, water that pays by bitcoin. Things will turn upside down if there is no cash.
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