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Learning & News => News related to Crypto => Topic started by: newshunter on October 04, 2020, 07:00:46 PM

Title: Cashless future ahead? Utopian digital dream with dystopian inequality
Post by: newshunter on October 04, 2020, 07:00:46 PM
Cashless future ahead? Utopian digital dream with dystopian inequality

A society without paper money might be a less equitable society. Those lacking digital connectivity would suffer.


Source: Cashless future ahead? Utopian digital dream with dystopian inequality (https://cointelegraph.com/news/cashless-future-ahead-utopian-digital-dream-with-dystopian-inequality)

Would appreciate your opinion about this
Title: Re: Cashless future ahead? Utopian digital dream with dystopian inequality
Post by: Senin on October 06, 2020, 05:59:27 AM
I don't think people will be able to completely switch to using non-cash payment methods now. There should be an alternative in payment, because not in all cases it is possible to use technical means to conduct transactions. Now the climate is changing, there are a lot of natural disasters and therefore one should not fully rely on high technologies. Cash must remain, otherwise part of society will be forced to use barter transactions. Most states, for various reasons, will not be able to give up cash for a long time.
Title: Re: Cashless future ahead? Utopian digital dream with dystopian inequality
Post by: KryptoBull on October 06, 2020, 05:56:41 PM
I must admit, I cannot imagine a world without cash. Of course the economy will still happen in the city when payments are made through cash registers, but in the countryside, in small markets, not everyone owns bank cards and applications accepting digital payment, and if there is no cash, most likely people will have to return to the form of barter hundreds of years ago. Or they have to use feathers & shells to replace cash ^^

Title: Re: Cashless future ahead? Utopian digital dream with dystopian inequality
Post by: cryptopediabd on October 13, 2020, 05:01:37 PM
In Sweden, cash in circulation represents only 1% of the country’s gross domestic product, and some experts predict the nation will go “totally cashless” by 2023. In China’s largest cities, over 90% of people use WeChat Pay and Alipay as their primary payment method, with cash a distant second.
Title: Re: Cashless future ahead? Utopian digital dream with dystopian inequality
Post by: Noverteno on October 16, 2020, 08:53:16 PM
Quote from: cryptopediabd on October 13, 2020, 05:01:37 PM
In Sweden, cash in circulation represents only 1% of the country’s gross domestic product, and some experts predict the nation will go “totally cashless” by 2023. In China’s largest cities, over 90% of people use WeChat Pay and Alipay as their primary payment method, with cash a distant second.
Only a few countries of the world may soon switch to non-cash forms of payment, completely getting rid of cash. On the other hand, more than half of the countries with a low level of population income will not be able to do this at all in the foreseeable future. Therefore, a cashless society is not yet on the agenda. Due to the sharp climate change and the increased frequency of weather disasters, the world's population can quickly become poor. This means that a cashless society can be postponed.