It's a hard thought for any country to complete digitise monetary transactions as all the currency notes and coins printed till date could completely go waste. If at all something, this is just an idea to push for fiat-less transactions throughout the country from small outlets to big companies.
If Sweden would actually end up doing this, I would definitely expect other countries to follow suite especially non-communist and developing countries around the world.
Topic: Does this mean Cash will be extinct? - page 76. (Read 14862 times)
If cash goes extinct, it will not be for at least another century. There are lots of kids who will be raised on it and want to continue using it.
Let see and observe how this be implemented then learned from it for a better a study on our own country, if it is necessary and successful. This might be much more controversial than any legalisation issue as it will directly hit the economical aspect of each government. Is it bad or good? Who knows? those that assumed that it will do harm more than good are not open-minded enough to see the future of bitcoin as a worldwide currency. All I can see is “We don’t know until we care to try”.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
The Nordic nations tend to be first at implementing such schemes so I think it would take 5-10 years for the rest to follow. Troubling news, though we kinda expected this to happen anyway. Once we started dealing with our money using cards, it's really just a short step to outright removing physical fiat.
Belived or not, people in the future will no longer use paper money, it will be replaced by gold. Probably the gold is physical or virtual, I do not know which one.
Are you smoking pot or something?
Being a cashless society is good, but it will bring more harm that good. How can all the citizens adjusted to this situations? I don't think that its gonna be the norm for all society in the future. Some small countries can implement it, while most of the nation will still rely on the old traditional fiat. And I think the main proponent of this is just those banks who issued credit cards. Every transaction that involved cash is a lost opportunity for them. That's why they are the main backers and proponents for this so called cashless society. Also, cash is a safeguards against economic turmoil. So its better to have crypto's, credit cards at the same time the old traditional fiat to balance the economy of a nation.
Belived or not, people in the future will no longer use paper money, it will be replaced by gold. Probably the gold is physical or virtual, I do not know which one.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
The Nordic nations tend to be first at implementing such schemes so I think it would take 5-10 years for the rest to follow. Troubling news, though we kinda expected this to happen anyway. Once we started dealing with our money using cards, it's really just a short step to outright removing physical fiat.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
no i dont think so, if that happens some will have a problem to use digital currencies because digital currencies are just for online but some of the poorer countries dont have acces to internet and they dont have a prope knowledge regarding on new technelogy today. so i guess that will greatly affect our economy if they would still implement it.
It would take the world quite a long time to follow suite, not to mention the developing countries who don't have the technology or infrastructure to install digital/electronic payment terminals across the country.
So, as good as going paperless sounds, I don't think we'll be seeing this go global. It'd definitely be interesting to see how Sweden's stance on BTC would be influenced though as a result of this.
So, as good as going paperless sounds, I don't think we'll be seeing this go global. It'd definitely be interesting to see how Sweden's stance on BTC would be influenced though as a result of this.
Total removal of fiat from the society will do more harm than good.
No matter the level of technological development, not everyone will be able to embrace cashless transactions. And also, most services need to be paid in cash.
No matter the level of technological development, not everyone will be able to embrace cashless transactions. And also, most services need to be paid in cash.
I don't think so. First of all this article is a pure speculation. Who knows if Sweden will still exist as a country in 2013. With the rate they are being taken over by migrants I really doubt it.
The Nordic nations tend to be first at implementing such schemes so I think it would take 5-10 years for the rest to follow. Troubling news, though we kinda expected this to happen anyway. Once we started dealing with our money using cards, it's really just a short step to outright removing physical fiat.
I honestly hope we won't follow Nordic nations in their politics. The times of Vikings have passed. Nowadays they are full of leftists who don't even know how to approach the problems they're facing in the form of migration, terrorism and crime.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
The Nordic nations tend to be first at implementing such schemes so I think it would take 5-10 years for the rest to follow. Troubling news, though we kinda expected this to happen anyway. Once we started dealing with our money using cards, it's really just a short step to outright removing physical fiat.
I honestly hope we won't follow Nordic nations in their politics. The times of Vikings have passed. Nowadays they are full of leftists who don't even know how to approach the problems they're facing in the form of migration, terrorism and crime.
to face out all fiat money on one country is not necessary, how about those anyone or anybody that who cant afford to buy gadgets and provide a internet connection, how do they live. i mean how do they make transaction on the physical market to buy or sell goods just to live? this idea is non sense. fiat money is important too and i think more country not to follow if that happens.
Eliminating paper fiat will have a measurably negative effect on economies. Paper money represents a more efficient form of transaction than electronic payment. For the poor who can't afford a cell phone or internet connection, paper money is their only hope of buying/selling. Getting rid of paper fiat makes transactions more difficult and also centralizes the currency aspect of economies which leads to monopolism. Centralizing power and influence in this way is strongly correlated with exploitation, predatory business practices and inequality.
Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
Banning paper money will have a measurable negative effect on economic growth, unemployment, inflation, standard of living & other statistics. It will represent lost opportunity, a higher bar to entry for markets, greater difficulty in small businesses surviving and creating jobs. There's no upside or advantage in getting rid of paper money. And there are definitely many disadvantages.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
The Nordic nations tend to be first at implementing such schemes so I think it would take 5-10 years for the rest to follow. Troubling news, though we kinda expected this to happen anyway. Once we started dealing with our money using cards, it's really just a short step to outright removing physical fiat.
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
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