missfox Posted October 27, 2017 #1 Posted October 27, 2017 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.
wry Posted December 1, 2017 #2 Posted December 1, 2017 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.
Snike Posted December 1, 2017 #3 Posted December 1, 2017 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
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