No Cash, No Pain: What If You Woke up to No Paper Money?

No Cash, No Pain: What If You Woke up to No Paper Money?
ôîòî ïîêàçàíî ñ : nulltx.com

2018-10-9 18:30

In an paperless money environment, people would find several ways to thrive.

What if we wake up one day and find that all the paper money that we are familiar with has disappeared? We might shake our empty wallets but it would do us no good. Yet all is not lost, we still have access to cryptocurrencies. Blockchain-based technology has already ushered in a myriad of cryptocurrencies that will soon fill the void left by paper money. One of the first victims of the death of cryptocurrency would be the bulky physical wallet, which would no longer be required. We would be able to carry out all our transactions through our smartphones. However, the real change would begin to happen soon after paper money disappears.

An era of social transformation

Cryptocurrency and its underlying blockchain technology would herald a new era. Now that transactions can be done on a global scale without barriers of paper currency, new systems would be built that allow for novel uses of digital cash. A student in Nicaragua would now be able get his scholarship directly in his cryptocurrency wallet. An author would be able to donate half of their royalties automatically to a charity of their liking in Canada. As cryptocurrencies gain universal usage and get paired up with technology like Internet of Things (IoT), a smart energy efficient air-conditioner would be able to transfer the savings it made directly to a mutual fund or a bank account.

At BlockShow Americas 2018, experts like Alex Mashinsky, Founder of Celsius Network lent his ideas about the usefulness of cryptocurrencies and how they can, among other, help the underprivileged. Alex’s Celsius Network is already working on a wallet that will help provide financial services to the underbanked.

No cash may mean no corruption… or may it?

Cash as we know it today is completely untraceable. According to the World Economic Forum (WEF), one of the greatest impediments to fighting corruption is cash. WEF states, “Every year, hundreds of billions of dollars of government payments and transfers are made in physical cash. These include government salaries, health payments, pensions and financial support for families in need. Such payments are often difficult to trace, insecure and inefficient. The anonymity of cash makes it vulnerable to skimming off the top, and to “ghost” recipients who don’t exist. This is not a minor issue. It causes more than $110 billion in losses every year in emerging economies.”

Now that physical money has disappeared refugees can get their dues in digital currencies directly and better tracking can be enabled of what services have already been rendered to them. Homeless, destitutes and the less privileged can get benefits either in cash or kind and immutable blockchain technology can be used to track funds or goods transfers. This will eliminate pilferage and help in proper deployment of government subsidies. At BlockShow Asia 2018, we have a chance to discuss solutions that can be deployed to create a better world in the future whether we use cash or end up in a world with no paper money.

A future within our grasp

In a world where there is no longer any paper money targeted services like health care would become more efficient as fraud and supply chain losses are cut. Education funding would become easier and more economical as cost of remittances over long distances would fall. Students would be able to keep their degrees and diplomas safely in an electronic format which would be verifiable. People would also begin to notice an improvement in civic services as obtaining licenses, certificates and permissions from local, state and federal government would become faster, simpler and more convenient through blockchain based wallets. Savers and investors would enjoy a trust in the banking and non-banking financial sector as never before. The fact that most cryptocurrencies would not be subject to fiscal indiscipline by central banks would reinforce trust in the economic system and things like hyperinflation and bank runs would only be present in history books.

Let us create the future now

What would a world without paper money be like? Today it is not only imaginable but it is also practicable. BlockShow Asia 2018 at the Asia Blockchain Week is your chance to contribute to the maturity of Blockchain in its critical evolutionary phase. Blockchain is getting mature and you can witness it for yourself.  BlockShow is not only creating a venue for people to listen to the ideas of experts but also to participate in the building of a new society, where technology can do good. Our aim is to work together so that we can evolve a common vision to address the problems of future in the present. Whether you want to become a sponsor or to buy a ticket, now is the time to participate in BlockShow Asia 2018 and rub shoulders with the best, at the best Blockchain industry conference in the world.

BlockShow is not only creating a venue for people to listen to the ideas of experts but also to participate in the building of a new society, where technology can do good. Our aim is to work together so that we can evolve a common vision to address the problems of future in the present.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

The post No Cash, No Pain: What If You Woke up to No Paper Money? appeared first on NullTX.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Money ($$$) íà Currencies.ru

$ 0.0004099 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: -2.27 %
Cåãîäíÿ L: $0.0004099 - H: $0.0004099
Êàïèòàëèçàöèÿ $18.807k Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0008564 (-52.14%)

money paper find all woke cash pain

money paper → Ðåçóëüòàòîâ: 44


Ôîòî:

Duke University Professor: A National Cryptocurrency Could Potentially Replace Paper Money

If a recent interview from a Duke professor is something to go by, the U.S. national fiat currency could soon be replaced by a national cryptocurrency. Per a report published by The Chronicle, dated September 19, 2018, Duke Fuqua School of Business’ professor, Campbell Harvey, not only believes that the United States should create a national cryptocurrency, but concludes that...The post %%POSTLINK%% appeared first on %%BLOGLINK%%.

2018-9-22 23:00


Ôîòî:

Bitcoin’s Rise Reflects Governments’ Failure To Stabilize National Currencies

Bitcoin is digital gold for a digital generation. Libertarian proponents of cryptocurrencies, like America’s Founding Fathers before them, argue that fiat currencies are nothing but Monopoly paper: Why does fiat cash have value when it’s not backed by any real asset, such as gold or silver? In 1786, Thomas Paine wrote: “Gold and silver are the emissions of nature: paper is the emission of art.

2018-9-3 16:00


Ôîòî:

The Genesis Files: With Bit Gold, Szabo Was Inches Away From Inventing Bitcoin

As his Hungarian parents had fled post-war Soviet regime to settle in the United States, Nick Szabo came to call the Californian Bay area of the 1990s his home. Here, he was among the first to frequent the in-person “Cypherpunk” meetings organized by Timothy May, Eric Hughes and other founding members of the collective of cryptographers, programmers and privacy activists centered around the ’90s mailing list of the same name.

2018-7-13 17:16


Ôîòî:

‘Digital Currency Is Basically A Fallacy’ Says Finland Central Bank

The Bank of Finland (BoF) has released a 133-page paper arguing the concept of digital currency is an “illusion. ” BoF: ‘Fundamental Nature’ Of Digital Currency ‘Elusive’ The document, compiled by the Finnish central bank’s head of digitalization Aleksi Grym, claims the world has become “muddled” about the difference between money and technology and argues that digital currency is in fact “basically a fallacy.

2018-7-12 05:00


Bitcoin Will be Mainstream Within the Next Decade, Say University Researchers

Imperial College London recently released a research paper that points to the imminent adoption of Bitcoin and other cryptocurrencies in mainstream finance. The report’s authors believe that Bitcoin already exhibits the core properties of money, and thus could become the de facto currency for global commerce within the next decade.

2018-7-10 00:33


Ôîòî:

European Parliament Considers Balanced Crypto Report

Major governments will have to come to terms with digital currencies, according to a report to the European Parliament. Although virtual currencies are not likely to replace traditional money anytime soon, the briefing paper argues that they are also not a mere bubble or fad; crypto is here to stay, and should be regulated on […] The post European Parliament Considers Balanced Crypto Report appeared first on Crypto Briefing.

2018-7-5 20:45


Ôîòî:

Goldman Sachs ceo: ‘Too aloof’ to Think Crypto Won’t Work Out Since It’s ‘Curious’

Goldman Sachs CEO Lloyd Blankfein reiterated his positive stance on cryptocurrencies in an interview with Bloomberg at the Economic Club of New York, June 19. Addressing the evolution of money, Blankfein pointed out the common features between paper money and crypto, apparently implying that they both do not have intrinsic value. But based on everything

2018-6-20 15:40