Post
Topic
Board Economics
Re: Digital Money = Cashless Society
by
ApocalypseNow
on 10/09/2018, 07:33:58 UTC
It is said now China is a cashless society. Use of debit and credit cards in shops/stores, online pay bills, shopping online.

Money earned from the internet is known as digital/electronic money. People who earn money from the internet, they get paid money in electronic form by payment processors such as skrill, perfectmoney, alipay, paypal, bank-wire transfers because online workers are worldwide.

Last month, I got $20 from online surveys. The money was sent to my bank account via online payment processor. Now if I buy 2 shirts using debit cards at offline or online stores, there is no cash involved but I have 2 shirts.

Just like Bitcoin which does not have a physical presence, money/cash will not have physical presence in "cashless society/countries" where money becomes digital/numbers.

Bitcoin is a part of digital money. How is digital money is your country ??


My people here are also now preferring online transactions because online jobs became popular so more and more people are getting used to it. I will not be shocked if people in my country shift to cryptocurrencies quickly because it is really not that different to the digital money they used on paypal or on their atm.