Jump to content
missfox

Cashless Society

Featured Comment

Have you ever wondered how would the world's economy be like in the future as a cashless society?

Perhaps, with the increased traction of blockchain acceptance nowadays, could lead to the creation of digital fiat currencies powered by blockchains that are managed by governments themselves. With this in mind, there would be no need for physical cash, as digital fiat currencies would provide many advantages such as quick settlement, global payments, full transparency, implants use on citizens to make payments, and more.

If this becomes a reality, which I'm sure that it will, it would radically transform our lives for the better and reduce criminal activity as a result of the full transparency and auditability that a digital fiat currency would have thanks to the power of the blockchain technology.

Also, it makes me wonder if cryptocurrencies like Bitcoin would exist by that time, or will they co-exist with digital fiat currencies.

Nevertheless, I would like to know your opinion about this.  

Share this post


Link to post
Share on other sites

One of the things that I like a lot about Bitcoin is the same thing I like about cash, it's anonymity.  While Bitcoin isn't as private as some other alt coins, it's better than credit cards that are tied to your name and address.

I am in no rush for the cashless society.  To me it just makes it easier for central bankers to utilize negative interest rates to further rig the system in their and their associates favor.  However, you are probably right, it is coming, as I understand it Sweden is getting close to being a cashless society.  Maybe a user from there will comment.

Share this post


Link to post
Share on other sites
8 minutes ago, wry said:

One of the things that I like a lot about Bitcoin is the same thing I like about cash, it's anonymity.  While Bitcoin isn't as private as some other alt coins, it's better than credit cards that are tied to your name and address.

I am in no rush for the cashless society.  To me it just makes it easier for central bankers to utilize negative interest rates to further rig the system in their and their associates favor.  However, you are probably right, it is coming, as I understand it Sweden is getting close to being a cashless society.  Maybe a user from there will comment.

That has a bad side as well though. If anyone would want to commit a crime or blackmail someone they were completely anonymous in bitcoin... Just saying xD

Share this post


Link to post
Share on other sites
On 10/27/2017 at 4:30 AM, missfox said:

Have you ever wondered how would the world's economy be like in the future as a cashless society?

 

On 10/27/2017 at 4:30 AM, missfox said:

implants use on citizens to make payments

Interesting idea Missfox! When I first read your post, I did think it sounded like a sci-fi movie, and then your talk of implants made me really think this way! xD

I think a cashless society would be cool. They don't have money in Star Trek on Earth. It would be very cool if one day we got to the stage where we didn't need money at all, and people just excelled according to their talents, and there was no want anywhere in the world... but I guess this is kind of a Utopian idea, a cool one though ^_^

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×