Bitcoin Helps Consumers Transition To Cashless Payments
The topic of creating a cashless society has been kicked around a few times in recent years, but the major mind shift has not happened just yet. Some industry experts are even wondering whether or not a cashless ecosystem is realistic or not. With so many electronics payments – and digital currencies such as Bitcoin – at the consumer’s disposal, it seems to be a matter of time. There is no denying consumers are slowly gravitating to a world in which cash transactions are becoming less frequent. Even though there is a personal aspect to cash transactions around the world, a lot of consumers....
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Every day one hears about the impending demise of physical cash - the dirty coins and banknotes that our grandfathers used for everyday transactions, and some filthy criminals still use today - and the upcoming transition to a cashless society. To us geeks that seems initially a good idea - more virtual, more wired, more connected, more cyber - but then one has second thoughts. Cashless society? I say NO, thanks. Not yet. Sweden Leads in Cashless Transactions. Cashless as they intend it means 24/7 surveillance. It's a tool of Big Brother. If you have doubts, let me lay them to rest for....
It will take some time for consumers to warm up to crypto, but education is the key to its mass adoption. From QR code payments to mobile banking apps, consumers worldwide are increasingly reliant on digital payment solutions, especially as mobile technology becomes more ubiquitous. Government-led efforts in driving cashless economies have been a key factor, with countries such as Singapore or the Philippines seeing their central banks driving the adoption of contactless payments during the height of the COVID-19 pandemic. As a result, usage rates for digital payments platforms have....
Secondly, putting banks in full control of our society's money is the last thing anyone should want. Banks already hold a lot of control over our funds, and they are the very reason why the recent financial crisis took place to begin with. With all of the recent talk about a cashless society, the question inevitably turns to the role of Bitcoin and other digital currencies. Some people would like to see more anonymity in Bitcoin, especially when considering how going cashless would give banks and governments a complete overview of how consumers spend their funds. Although some people might....
Cryptocurrency may emerge as a more widely adopted means of exchange as consumers grow increasingly comfortable with cashless transactions. The recent health scare surrounding the COVID-19 outbreak seems to have accelerated the move toward a cashless society, with cashless payment spiking in concert with viral cases.Yet, our findings in a Genesis Mining study called “Perceptions and Understanding of Money 2020” indicate that a significant majority of Americans are not psyched about parting with their paper money on a permanent basis.To be more specific, we found that 60% of respondents are....
The California-based annual Coachella music and arts festival began the shift towards cashless payments in 2014. This year the transition continued with all vendors accepting Android Pay, Apple Pay and Samsung Pay. The shift aims to increase sales of food, drinks and merchandise, as well as to move attendance lines faster and reduce the number of thefts of cash and plastic cards. This year the transition continued with all vendors accepting Android Pay, Apple Pay and Samsung Pay through POS provider Squares mobile wallet reader, allowing attendees to pay using their mobile wallets on their....