Why we should fear a cashless world - page 24.

Malsetid

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Quote from: Shutup on June 25, 2017, 04:37:12 AM

In our society we got used cash as our transaction. We trained to use it as our money especially when buying things it is more easy to use than digital money. People are got used in cash thats why it is hard for all that cash will be remove. So, it is so hard for us a cashless world. We should fear a cashless world because many people are poor in knowledge about technology.

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You're right dude. And the requirements of a cashless society may not be available for the lower levels of society. It's not as if access would be given freely to all people. Of course there will be terminals used for cashless trnasactions. We may need cards, stable internet snd all that which is of course readily available for people in the higher levels but those in lower tiers, it would be a challenge if we go entirely cashless

Shutup

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In our society we got used cash as our transaction. We trained to use it as our money especially when buying things it is more easy to use than digital money. People are got used in cash thats why it is hard for all that cash will be remove. So, it is so hard for us a cashless world. We should fear a cashless world because many people are poor in knowledge about technology.

UCHCHILD

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For me I just worry about the logged of the transaction. And the hidden transaction in your account and also once the transaction is full.like what we are experiencing now the big volume of users the log may happen which is so bad to experience especially if you want your money now and you are in emergency. I hope if cashless implemented world wide those problems must be solve first then people will not be bothered of those problems anymore.

just a man

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Quote from: chineseprancing on June 25, 2017, 03:45:40 AM

I can't imagine that different nation and country were cashless, because paper money was used as symbolize each country. However, primary needs and used of people are cash that's why maybe we fear in cashless.

I am pretty sure that it could happen easily, all it require is one person who has a bunch of power to influence the exconomy to go cashless.

chineseprancing

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I can't imagine that different nation and country were cashless, because paper money was used as symbolize each country. However, primary needs and used of people are cash that's why maybe we fear in cashless.

darthmaul

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I guess to become cashless completely you have to look after your country's economical system first. This change may not be implemented completely until everybody gets literate about the cashless technology. But according to me it won't be that big problem to let the people understand what it is. In recent years, India has made giant leap by investing heavily into a card system which they call it as "Äadhaar Card". This card includes all the biometric information about the person in the country and it links all your KYC documents too. This way everything is connected and contains unique barcode to access the services. Recently they have launched Wireless hotspot which Indians can buy just by scanning their thumbs! As the whole system is connected they don't have to submit their identification as the system already knows who the person is, and it gives access to them. It is not similar to contactless technology but it is something India has implemented even though they have highest poverty ratio as well as illiterate ratio. So its not fearing thing at all.

eaLiTy

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Quote from: emezh10 on June 25, 2017, 01:03:09 AM

Besides bitcoin can be hack because the technology and everything is in the internet is not safe so I think real money is needed to the economy became balance because the bitcoin itself is just a secondary currency and I think it should be a secondary only because the paper money is needed in the real world.

This is a misconception that bitcoin can be hacked,it is not possible to hack bitcoin or blockchain and that is the reality.People lose their bitcoin because they do not know how to protect themselves online ,there is nothing to fear when it comes to cashless economy,but in order for that to become a reality it will take a longer time to completely change how we deal money,there are many hurdles to overcome for a government to push for a cashless economy,infrastructure should be implemented and for a poor country to do that,it is impossible .

xuan87

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I am not fond of the country without cash, it's like bringing all of your wealth in a piece of chip, and all of your transaction can be traced so you won't have any privacy in transaction and the most fearful thing is we rely too much on technology and internet, if there is something wrong with that then we won't be able to do any transaction at all, so it is still a good idea to have option to carry cash or digital money

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Quote from: McDonalds5 on March 21, 2016, 06:50:25 AM

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

A cashless world can be dangerous if all coins are easily traced back to a person and their whole life and financial history is revealed, that already exists with banking relationships as they know the clients data and can easily access it.
The real question is how easy is it for someone to get that data and that is what is most dangerous about a cashless society where a single malicious actor can make a gigantic wave if the whole marketplace is in a sense leveraged onto digital cash only.
Without good security or cryptography to mitigate some risks.

Casabrandy

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Quote from: emezh10 on June 25, 2017, 01:03:09 AM

Quote from: zedicus on June 24, 2017, 10:45:28 PM

We should and we will fear a world without an fiat currencies or cashless world or world with just relying in bitcoin totally,imagine if you dont have cash and you only have bitcoin and you need to pay instantly and bitcoin transaction tooks so long

Besides bitcoin can be hack because the technology and everything is in the internet is not safe so I think real money is needed to the economy became balance because the bitcoin itself is just a secondary currency and I think it should be a secondary only because the paper money is needed in the real world.

Anything related in technology transactions were hard to trust too much there are lots of situation that it might not work well so its still good to have alternative options that not requires technology.

emezh10

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Quote from: zedicus on June 24, 2017, 10:45:28 PM

We should and we will fear a world without an fiat currencies or cashless world or world with just relying in bitcoin totally,imagine if you dont have cash and you only have bitcoin and you need to pay instantly and bitcoin transaction tooks so long

Besides bitcoin can be hack because the technology and everything is in the internet is not safe so I think real money is needed to the economy became balance because the bitcoin itself is just a secondary currency and I think it should be a secondary only because the paper money is needed in the real world.

zedicus

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We should and we will fear a world without an fiat currencies or cashless world or world with just relying in bitcoin totally,imagine if you dont have cash and you only have bitcoin and you need to pay instantly and bitcoin transaction tooks so long

raven7886

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Quote from: Sled on June 23, 2017, 03:01:17 AM

Because it is dangerous for us and we all know that nothing is safe in the internet so if we will just depend on the digital age then we will have risk in managing our money and also the security of our money is not that safe because there is a lot of professional hackers that can bypass and steal money from the innocent user of digital money so it is just right to be afraid in a cashless world.

The bitcoin and the crypto currency is a very good new technological financial system and like anything other it has its pros and cons.

As everyone around knows that the technology related stuff can be hacked anytime this is such a threat which we cannot say that can be removed therefore the fear is reasonable in this case if god forbid someone’s wallet is hacked then what will happen ?
Also the internet can be down due to many reasons anytime so it will be safe to keep some cash with us, so that we fulfil our needs.

batang_bitcoin

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Quote from: Kevin77 on June 23, 2017, 04:26:04 PM

Quote from: batang_bitcoin on June 23, 2017, 03:52:49 PM

Cashless society will make the government powerful, they will take over almost everything. Your money will always be regulated and it can be traceable on where do you spend your funds. Unlike in cash/fiat, you can just use it whenever you want and there's no restriction about it. The bad thing about cashless, not all of us are literate in technology.

I believe you are not talking with respect to bitcoin based cashless society. Because with bitcoin no one will be able to trace down where the funds are coming and where they are being moved. A cashless society will support many benefits but I do not think it will support the government to stay powerful.

Yes I'm not talking about bitcoin based cashless society. But for sure the government will implement their very own cashless society and that will be in the form of RFID microchips. And as I know that is already implemented in some parts of USA and on a company in Switzerland/Sweden. Bitcoin will not be supported by the government as the main cashless currency.

Kevin77

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Quote from: batang_bitcoin on June 23, 2017, 03:52:49 PM

Cashless society will make the government powerful, they will take over almost everything. Your money will always be regulated and it can be traceable on where do you spend your funds. Unlike in cash/fiat, you can just use it whenever you want and there's no restriction about it. The bad thing about cashless, not all of us are literate in technology.

I believe you are not talking with respect to bitcoin based cashless society. Because with bitcoin no one will be able to trace down where the funds are coming and where they are being moved. A cashless society will support many benefits but I do not think it will support the government to stay powerful.

batang_bitcoin

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Cashless society will make the government powerful, they will take over almost everything. Your money will always be regulated and it can be traceable on where do you spend your funds. Unlike in cash/fiat, you can just use it whenever you want and there's no restriction about it. The bad thing about cashless, not all of us are literate in technology.

btccashacc

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i'm thinking about that we could live in this world without the cash, yeah i believe that we can and no need to fear about that , as we can see people nowdays prefer to pay something with the cards rather than using the cash. However we need both of them cash and digital, not all of the parts of this world connected to the internet or embraced the technology. The point is there are pros and cons if we live in cashless world, but i can see there are more pros than cons.

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Quote from: McDonalds5 on March 21, 2016, 06:50:25 AM

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

As a Christian,i believe that a cashless society will be the work of the Anti-Christ, he is going to determine who is going to be able to buy and sell in his era and he is going to be able to implement it if there is no cash in the system.

soros017

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A world without cash is a communist utopia. It is not possible to have an efficient economy without people being free to exchange whatever they want, using whatever exchange method they want.

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Quote from: romero121 on March 21, 2016, 08:46:31 AM

Cashless world as mentioned in the document, it will ruin the poor and the growth of small scale traders. On the whole the technology will make changes but it should be developed in a equal manner to reach all.

Yes i agree, cashless world may brought bad thing to the people who are on the low society. It may hinder the development of both the small scale traders and investors. In addition it can also affect the further changes on bitcoin becuase it has the same purpose or characteristic that bitcoin also have so many can see cashless as much better way on transaction for the reason that is has the same way system that bitcoin also do have.

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