No paper money No coins
By askme123
@askme123 (6150)
12 responses
@1creekgirl (41330)
• United States
19 Nov 21
I see us heading for a cashless society. With the excuse of a coin shortage, cards are being encouraged instead of cash. It's becoming so easy to use digital transactions.
2 people like this
@1creekgirl (41330)
• United States
19 Nov 21
@porwest That could be a big consideration in those circumstances.
1 person likes this
@porwest (89267)
• United States
19 Nov 21
@1creekgirl I can see a push for the preference of one over the other. But I think a completely cashless society is impractical for a variety of reasons. There are times when one does not have the ability to conduct commerce digitally—for example, after major disasters such as tornados, earthquakes, and other situations where power grids may be wiped out or networks might be inaccessible or down.
1 person likes this
@Queenoflife (942)
•
20 Jan 22
@askme123 The same. I like to have money in my hands.
1 person likes this
@louievill (28851)
• Philippines
19 Nov 21
I believe so, it's already happening in China, China is a good case study, it is already ahead with their digital yuan with now millions of users. You could buy street food in China with just a cell phone because most people have gadgets including street vendors.
The Chinese buy, sell and send money in an app called Wechat, it's similar to Facebook but money circulates from within and verification is easy because China has an effective national ID system. Most young Chinese no longer carry cash, just old people. My friend's son no longer knows the denominations of their paper money. I think the world would somehow be like this in the future but more Hi-Tech and sophisticated.
1 person likes this
@cherriefic (10399)
• Philippines
21 Nov 21
It's better not to use cash anymore since it will be more convenient.
1 person likes this
@jiangjuno (98)
•
25 Nov 21
As for me, for now, I can say, maybe I can't cope up for that scenario for the time being. Though it can be learn or can be practiced somehow. However, the thing is, how about those small merchants who are not well oriented in using digital currency. Maybe this should be given an area of consideration.
1 person likes this
@choijungeun (2631)
• Hangzhou, China
19 Nov 21
In a country like 1984,it will happen.Big brother can do anything he wants,no one can stop him.Surely,it will destroy the economy of that country.People will totally live in the digital slavery.I think Cathay will be the first country which achieved it.They had built the high-tech totalitarianism with the Internet control,digital manage and face recognition etc.
1 person likes this
@wolfgirl569 (105254)
• Marion, Ohio
19 Nov 21
It wont happen for a very long time yet
1 person likes this
@porwest (89267)
• United States
19 Nov 21
No. I do not think this will happen. There will always be a need for cash, and the ability to conduct cash transactions. In fact, many people hold large amounts of cash in the event of major disasters such as tornados, earthquakes, or floods, where entire transactional networks and major power outages would make it impossible to conduct commerce.
@solidcodes (1764)
• Philippines
19 Nov 21
Maybe or maybe not
it has pros and cons.
with coins and paper money when the electricity is out you can still use it.
1 person likes this