[2015-10-22] Sweden to Become World’s First Cashless Country

bryant.coleman

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Quote from: unamis76 on October 24, 2015, 06:14:01 PM

The natural evolution, I think... Tomorrow Sweden, the next day Europe and then most of the World.

First lets see whether this experiment succeeds in Sweden or not. 99% of the chance is that it will be an abject and pathetic failure. We can try this concept in 2030 or 2040. But 2015? I think that it is a little bit too early. Banknotes and coins will be here for at least 50 years more. It is not possible to replace them completely.

Denker

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Quote from: unamis76 on October 24, 2015, 06:14:01 PM

The natural evolution, I think... Tomorrow Sweden, the next day Europe and then most of the World.

No it won't go that fast I believe.Especially countries like Germany are very very conservative.Still more than 50% of daily retail shopping is done with cash money here.We had a some articles about abandon cash in the country some while ago and even the big bankster here said they don't want that.

nachoig

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Quote from: JeffZwolle on October 23, 2015, 07:19:08 PM

cashless is bad!

http://www.cnbc.com/2013/12/12/cashless-society-a-huge-threat-to-our-freedomcommentary.html

Agreed.

Cash is fundamental for privacy, as the payments aren't be tied to one particular person. Debit and credit cards don't allow this. With this, your bank (and the government) can know all your entire routine.

An example of incidents which can happen because of the lack of privacy caused by this system: http://www.forbes.com/sites/kashmirhill/2012/02/16/how-target-figured-out-a-teen-girl-was-pregnant-before-her-father-did/

unamis76

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The natural evolution, I think... Tomorrow Sweden, the next day Europe and then most of the World.

Bit_Happy

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A Great Time to Start Something!

I will keep using small amounts of cash, until the Dollar is so worthless that we burn it for fuel.

Quote from: gogxmagog on October 23, 2015, 11:04:52 AM

Quote from: gentlemand on October 23, 2015, 07:17:31 AM

What about all the old grannies? It's easy to discount them in the march of progress but they're also the most diligent voters. Most of them can't even operate a DVD player. They wanted to abolish cheques in the UK but that was rapidly put aside when it became clear how many oldies still used them.

cheques still exist but they aren't used for much more than paying bills anymore. they are going to disappear eventually, sooner than later. I'm 50 and i can remember people buying groceries with cheques. that would never happen today... most places stopped accepting them in the 80s. I believe the digital cash changeover will happen in the same way... then we better pray hard that the electricity and internet stays on...

worse comes to worst, I can still chop wood, clean fish, and carry water, so I'll be OK.

Grocery stores in many parts of the USA still take local checks.

bryant.coleman

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The main reason why I don't use my credit card very often is because I know that the vendor will have to pay a 1.8% fee to either VISA or MASTER for processing the payment. If the government is making credit card payment mandatory, then they should make the fees 0%. Otherwise I can file a lawsuit against them and claim that they are doing this in order to help the credit card companies.

JeffZwolle

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cashless is bad!

http://www.cnbc.com/2013/12/12/cashless-society-a-huge-threat-to-our-freedomcommentary.html

gogxmagog

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Ad maiora!

Quote from: gentlemand on October 23, 2015, 07:17:31 AM

What about all the old grannies? It's easy to discount them in the march of progress but they're also the most diligent voters. Most of them can't even operate a DVD player. They wanted to abolish cheques in the UK but that was rapidly put aside when it became clear how many oldies still used them.

cheques still exist but they aren't used for much more than paying bills anymore. they are going to disappear eventually, sooner than later. I'm 50 and i can remember people buying groceries with cheques. that would never happen today... most places stopped accepting them in the 80s. I believe the digital cash changeover will happen in the same way... then we better pray hard that the electricity and internet stays on...

worse comes to worst, I can still chop wood, clean fish, and carry water, so I'll be OK.

Mickeyb

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Move On !!!!!!

Quote from: Kakmakr on October 23, 2015, 01:26:47 AM

It will be difficult to apply this model to developing countries due to the network infrastructure limitations. The prices for mobile phones will have to come down to fill that gap. We have already seen how M-Pesa and Bitpesa have taken off in Africa.

To be honest, I cannot see how banks can make a decision to stop accepting cash. Huh

Yes, it's much easier to da a thing like this in a highly developed and disciplined country. So Sweden is one of the rear that can pull this off. In the poorer countries cash still is a king.

Also, as I understood, they are not forcing their population to do this. They are just following their preferences as they are already deciding to do so.

gentlemand

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Welt Am Draht

What about all the old grannies? It's easy to discount them in the march of progress but they're also the most diligent voters. Most of them can't even operate a DVD player. They wanted to abolish cheques in the UK but that was rapidly put aside when it became clear how many oldies still used them.

eyeknock

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Quote from: rammy2k2 on October 23, 2015, 05:33:31 AM

Over 60% of financial transactions are made cashless in sweden Wink

really?, i didn't know it, then this news make sense for me and that study by the KTH Royal Institute of Technology has a reasonable basis, well, obviously, they need to have a reasonable basis to said that...

btw, anyway, that's a positive news for bitcoin world Wink

Quote from: Kakmakr on October 23, 2015, 01:26:47 AM

To be honest, I cannot see how banks can make a decision to stop accepting cash. Huh

they will, only if they start to feel that this is profitable for them... don't forget that is exactly what banks have been doing always,i mean to find the way to make more and more money.

rammy2k2

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Over 60% of financial transactions are made cashless in sweden Wink

Swordsoffreedom

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Quote from: tyz on October 22, 2015, 01:14:05 PM

A study by the KTH Royal Institute of Technology in Stockholm shows that Sweden is on track to become the world’s first cashless country.

http://cointelegraph.com/news/115452/sweden-to-become-worlds-first-cashless-country

I recall an article like this on Bitcoin discussion a while back they are progressing towards digital far faster than other countries given their small size.
As a model for crypto it still remains to be seen.

Quote from: Kakmakr on October 23, 2015, 01:26:47 AM

To be honest, I cannot see how banks can make a decision to stop accepting cash. Huh

Developed to the extent where the Swedes hardly ever use bills

Kakmakr

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It will be difficult to apply this model to developing countries due to the network infrastructure limitations. The prices for mobile phones will have to come down to fill that gap. We have already seen how M-Pesa and Bitpesa have taken off in Africa.

To be honest, I cannot see how banks can make a decision to stop accepting cash. Huh

tyz

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A study by the KTH Royal Institute of Technology in Stockholm shows that Sweden is on track to become the world’s first cashless country.

http://cointelegraph.com/news/115452/sweden-to-become-worlds-first-cashless-country

Topic: [2015-10-22] Sweden to Become World’s First Cashless Country (Read 740 times)