Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Master107 on January 14, 2021, 02:17:53 PM
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The introduce of digital money seems successful and could see through cryptocurrency which deals with intangible asset.
Because of the pandemic the world is force to think more advance than usual to deal and anticipate the massive spread of virus. Money transaction is the most busy network globally in every second.
Well, the World Health Organization and some government officials suspected that handling the money from one person to another could be dangerous and a threat to become infected.
The solution is coinless or cashless society.
This is good for cryptocurrency to freely dive into the cashless society once it would happen.
In my opinion, cashless society is possible with or without pandemic because people are discovering to make the life easier even in money transaction. Also it is good digital platform to approach the busy life.
What is your opinion in cashless society in the long ran?
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As an urban user, I love a cashless society, because the use of cryptocurrencies in a bank account is helping:
+ reduce the cost of printing money/coin;
+ limit contact between people during a pandemic;
+ prevent counterfeiting money;
However, the majority of the world's population is still living in difficult conditions, they do not have the chance to come into contact with cryptocurrencies or cryptocurrencies, they still need cash to pay.
In Vietnam, only large supermarkets or chain stores support bank card payments, people are not ready to receive bank cards, the same thing happens with crypto.
So I think that a cashless economy has many benefits but can only serve a small number of users, we still need cash & fiat.
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The biggest advantage of crypto is that it provides cashless facility and can be used all over the world which is in digital form with no fear of any kind.
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Governments will soon be converting the fiat money to digital money and there are many big advantages with this development. One, digital means that the transactions can be done fast and we can be able to transfer money anytime, anywhere not any more limited due to geographical locations. Two, this is going to save the government a lot of money since printing and minting money can be costly. Third, on the part of the government they can now have the means to track any transaction they want to so illegal activities can be curbed if not totally eliminated.
Now, of course, digital money coming from the government can easily be integrated with cryptocurrency. I am sure that there will be third party platforms that will be offering this seamless integration. So we will have cryptocurrency and digital money standing side by side under our fingertips. Having said those advantages, let's wait and see the disadvantages that will be sprouting once this vision is coming into fruition.
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@MrSpasybo
@TomPluz
Appreciated (+1) your kinda answer.
Well, cashless society could happen in the future where the people are prepared to embrace the shifting traditional fiat to advance and convenient cashless platform.
Although there are remote places they cannot stop the development of our society more specially today where the virus teach humanity on how to deal and manage this kinda unseen dangerous enemy.
Doctors and government are always after to community's security, safety, and protection. There are a lot of ways to effectively deal this pandemic. But one thing they are sure about cashless could help to stop spreading of virus.
Today the online transaction is more popular than face to face negotiation. Pretty sure, most of the people in affected countries deeply appreciate the online transaction (cashless).
In this world, change is constant.
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Governments will soon be converting the fiat money to digital money and there are many big advantages with this development. One, digital means that the transactions can be done fast and we can be able to transfer money anytime, anywhere not any more limited due to geographical locations. Two, this is going to save the government a lot of money since printing and minting money can be costly. Third, on the part of the government they can now have the means to track any transaction they want to so illegal activities can be curbed if not totally eliminated.
Now, of course, digital money coming from the government can easily be integrated with cryptocurrency. I am sure that there will be third party platforms that will be offering this seamless integration. So we will have cryptocurrency and digital money standing side by side under our fingertips. Having said those advantages, let's wait and see the disadvantages that will be sprouting once this vision is coming into fruition.
I agree with a cashless society, but someone who is new to crypto transaction systems will be confused by this.
As far as I know in remote areas, someone will find it difficult to get an internet signal and they will often use radio signals, now to overcome that I think there is a platform that provides cryptocurrency sending services using SMS, for now I think it's good because every cellphone that uses the system SMS will support 2G networks, this network can be reached in remote areas because the connection is good and from several sources of articles that I got, the 2G network uses radio signals, which are digital instead of analog which has CSD features, so data transfer will be faster.
Hopefully we can find more cryptocurrency transaction platforms that support the system in the future to make it easier for everyone to do cryptocyrrency transactions.
4 Easy Ways to Send Cryptocurrency Using SMS : https://blocksdecoded.com/send-cryptocurrency-sms/
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The whole world has been learning new ways of living, during COVID-19. But, could it prematurely induce a cashless society? Payment markets evolve slowly over time, proving that people are creatures of habit. Once we’ve easier of payment methods which are convenient for us people can change to a different method. COVID-19 was this big change for many consumers around the world.
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Any type of payment has its advantages and disadvantages. Now, of course, we have begun to move towards non-cash payments. However, everything should have its limits. Digital money, like any non-cash form of payment, will not save us from our eternal problems. Cash also plays a positive role, and therefore any form of cash settlement has a right to exist. You should not completely rely on digital technologies and the use of various technical means in monetary calculations. They can fail at one moment, then, if there is no cash, we have sunk to medieval barter.
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I also like cashless everywhere still we have to carry cash but cashless can be possible with fiat as well we pay money through cards or scanning by QR code even many countries governments are also planning to launch their own digital cryptocurrencies to deal. If we talk about cryptocurrencies its still not accepted in many countries legally so its a long way ahead for cryptocurrencies to get accepted legally as a medium of payment but anything happen in the future.
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Cashless society is certainly an advance way of living which is sometimes more convenient than having raw cash around, i said sometimes because this system may not be feasible in some situation, and also in the rural areas where development is at a very slow pace this will also pose some challenges, although i know this can not be achieve overnight it will take some time.
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In the past years men are women lifes has been endangered because of money reseason Been that they have carried money about in the vichcle because of lack of data transactions in the past but currently technology has made it possible that we can seat in the compfort of our home transfer money to any part of the world through cashless society I think the same thing should be adopted in the cryptocurrency industry.
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The disadvantage of cashless payment would be the possible tracking of the whole payments. There would be no black work, no criminal payments that were not prosecuted.
It will be awhile before our corrupt governments agree.
If the governments find out how the normal citizen can pay cashless and can be tracked without the elite doing the same, then the low is brought out in seconds.
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Even before both the past and current cryptocurrency green season and the Coronavirus situation, many of the global traditional financial systems are already transitioning into cashless economy, although the crypto economy has more advantages over the traditional financial cashless economy, i believe that the both will cohabitate together for a very very long time.
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So I think that a cashless economy has many benefits but can only serve a small number of users, we still need cash & fiat.
A cashless is good; it reduces the spread of viruses etc because no body gets to use fiats or paper wallet. Also; it helps individuals to make international transfer with very little fees or charges too. Cash and fiat will continue to co exist together for a very long time.
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A cashless is good; it reduces the spread of viruses etc because no body gets to use fiats or paper wallet. Also; it helps individuals to make international transfer with very little fees or charges too. Cash and fiat will continue to co exist together for a very long time.
Going cashless will do the world so good especially in this era of Coronavirus pandemic, however a huge part of the global population is not fully ready for transitioning into the cashless economy hence it will be detrimental to a lot. I believe the world need more time for sensitization and education on going cashless before we can gradually slide into full time cashless economy.
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yh, cashless policy enhance crypto world because, the best means of implementing cashless policy is through electronic payment, and crypto technology is basically build with a technology that encourage e-payment, with this crypto can easily gain ground in cashless world.
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I think that cashless or coinless may happen and are happening this day. This is the era of technology. We can see many banks or parties also provide e-wallet where it is cashless or coinless. And they are legal to be used for payment and any transaction. But for crypto, it may be beneficial for the digital asset.
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I think Bitcoin will soon replace fiat and everyone will use cryptocurrency and, accordingly, society will become cashless. Agree, it's easier and more convenient.
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Well, like I've always said, crypto currencies are here to stay, and like the op rightly said, the coming of Corona virus has proven to everyone of us the relevance of digital currencies, it's just a matter of time, we all will be able to spend our digital currencies on purchase and payment of good and services both online and offline, digital currencies are a better money, far better than our current paper money cus of many reasons, one being that paper money has no circulating or total supply and can be printed anytime any day the government wants, there by causing inflation, but digital currencies are fixed in their supply, and the more scarce they get, they more they become valued.
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Yeah, it is the development of technology and crypto is part of it. However, in the real world, banks and also many providers have offered cashless with e-wallet money types. Maybe it is not new again. What akes different is that crypto can be used not only for payment in the country but worldwide and also as digital assets.
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However, in the real world, banks and also many providers have offered cashless with e-wallet money types. Maybe it is not new again. What akes different is that crypto can be used not only for payment in the country but worldwide and also as digital assets.
E-wallet is the safe place in times of pandemic. :D ;D Thanks to e-wallet for helping crypto to introduce the cashless advantage over the traditional ways of payments and investment. Generally, cryptocurrencies catering the different fields of business sectors, health, educations, food and etc. People will support crypto slowly because they know the risk, potential and advantages.
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Now we are gradually going to adopt with cashless world although it is difficult to establish fully cashless world but possible majority percent places of the world in the near future where Bitcoin and top few cryptos can lead the cashless world campaign. People can exchange, purchase goods and needs with crypto value. This is going to happen more widely in the upcoming days, already started journey with few organizations.
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I think we have a long way for such a world. In Africa and Asia, there are too many places that still do not use fiat money. But for developed countries yeah this world is close.
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I think we have a long way for such a world. In Africa and Asia, there are too many places that still do not use fiat money. But for developed countries yeah this world is close.
Yeah exactly, this continents have a lot of communities that even the physical fiat currency is not available and where trading by barter is still the norm and even in some where fiat currency is the only thing they will accept because they want that physical money on their hand. I believe this should not be the aim as to making the whole world cashless but to balance, for those that can go cashless do so and the rest do whats best for them. Same will apply to crypto spending.
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The fact is that all consumerism, together with the banking system, have been trying for a long time to transfer people to non-cash payments, but this was supposed to be done with the help of the banking system and bank cards. But today, cryptocurrency offers the same opportunities, but at the same time will not allow governments to fully monitor the financial situation of each person, but over time They will have to accept, but they will try to come up with some kind of control tools.
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Cashless will be must for next revolution. But this not the correct time to start cashless society. Very few people have enough knowledge to implement Blockchain technology. Its needs to be perfect. Most of the countries have the required infrastructure needed for this.
Also i dont think govt will support any non-government crypto after they launch their own currency.
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It takes decades to do something like this. There is a lot of population in the world that does not know anything about blockchain or crypto, first, they would have to be digitally trained and as I said it would take a long time, where there will be no problems is with the most current generations and those to come, but at the moment it is not feasible.
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If most people are aware of cashless or coinless, it will be a good chance for the crypto world to develop. Crypto is one of the most advanced crypto technology. However, actually, they are already coinless or cashless in the world by using certain products to get the advantages.
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I think Bitcoin will soon replace fiat and everyone will use cryptocurrency and, accordingly, society will become cashless. Agree, it's easier and more convenient.
I don't see that for now or ever even, Bitcoin replacing Fiat just because it performs just about same function. We all know fiat is a government controlled entity and is used as a means of control of the economy but this cant be said for cryptocurrencies in general except the Government have finally found a way to take total control of crypto then that might happen which is unlikely.
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In the future no doubt that the world will be cashless but the fiat money will still exist.. just in case if your mobile is lost or no internet connection then you can use fiat as a second option payment.
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At the current stage, we are not yet ready for a cashless society, and given the challenges we face on a global scale, we will not be ready for it in the near future either. What humanity expects in the distant future, no one knows.
A cashless society presupposes a high level of development of technology and technology, as well as a high material support for members of society. In practice, we need our world to be without poor people. So far, I do not see a period when we can achieve this.
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for people in urban areas it is very helpful with progress that is so fast in the past 5 years, making no cash or no coins makes the world even brighter for the future
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In the future no doubt that the world will be cashless but the fiat money will still exist.. just in case if your mobile is lost or no internet connection then you can use fiat as a second option payment.
Fiat is difficult to obsolete because even the world is changing the humanity needs fiat for simple transaction and within the place where no technology that exist. Fiat is important for our daily activities like to buy simple stuff that we needed. Crypto is cannot stop the existence of fiat.