Quote from: HarmonyA on December 30, 2019, 10:19:22 PM

Quote from: Sherwood_Archer on September 11, 2018, 12:06:40 AM

Now that more and more countries are starting to go cashless (http://www.bbc.com/capital/story/20180427-does-a-cashless-society-benefit-everyone), is it possible that we also start converting to cryptocurrency? If that happens, what do you think are the advantages and disadvantages? Paying virtually is very convenient for me as I do not have to bring cash and it prevents petty theft but what is the disadvantage?

Cashless society requires a high literacy level to ensure that everyone in carried along the development stride.
Cryptocurrency engenders cashlessness, so if all countries convert to cryptocurrency, then cashless society will be easily implemented.
Though I see the reason why some countries have not gone cashless is due to some economy situation that should be resolved. But with time as the world progresses, the western world will go fully cashless.

Switching to cryptocurrencies could also make or break them in the process. For instance, cryptocurrencies require large amounts of electricity to operate. A nationwide scale will require more energy which could be sustained by switching to renewable resources rather than fossil fuels. But this will take time to implement. And if the process takes long, not only will it cause a drop on the economy, they are also riskig the quality of the environment they are in.