Coinless/Cashless World is advantage for cryptos

[Master107]

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?

[MrSpasybo]

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.

[naitik01]

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.

[TomPluz]

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.

[Master107]

@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.

[Ghozrd]

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/

[tervel]

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.

[Fenix]

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.

[gurunanakji777]

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.

[pealr12]

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.

[Delgboke]

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.

[Ferki]

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.

[mohdelayo]

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.

[youdacapt]

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.

[mohdelayo]

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.