Sweden on track to stop using cash by 2023 - page 3.

sockpuppet1911

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Quote from: crenfrosck on March 22, 2019, 06:05:11 PM

Look, what Sweden is trying to implement is rather terrifying than superb. What they actually want to achieve is an absolute control over money of their citizens. No one is able to "freeze" banknotes in your pocket, but guess what would happen in that situation with a frozen bank account... Well, nothing great for sure. I do not support fiat currencies at all, but in this situation, holding any "physical money" gives you the power to survive attacks from any institution that would declare you untrustworthy for any reason. Just lesser evil at this point.

I am glad that someone is pointing this out. I am stunned about the amount of people on this thread that actually think this is good news. Cash is the last more or less uncontrolled form of fiat money and they are getting rid of that.

JeffBrad12

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Quote from: Greeno Force on April 20, 2019, 03:27:18 AM

Sweden is a fairly developed country, and I would not be surprised that they will be one of the first to introduce electronic money into daily use, in particular cryptocurrency.

When you can pay anything in just a few seconds and why do we need fiat cash in the future? there was a lot of ways of electronic payment just like QR code and this is an example of how QR code payment system just takes a few seconds.

Sanford

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So that's great. Progressive is strange. Will show an example. With good luck, they will be able to attract more investment in their country.

Jpt

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WOW another good news that will surely bring cheers to the investors, crypto enthusiast and the whole crypto world. Yes you are right cryptocurrency is inching closer and closer day by day to becoming embraced by the entire world. I think digital currency will replace fiat money little by little. It takes time but it does happen. The coming generation and future is the time of digital currency where the people can enjoy transaction without hassles imposed unnecessarily by banks.

Tervelatuk

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Quote from: teosanru on April 20, 2019, 05:42:46 AM

But I doubt the whole volume will shift to cryptos. There are other ways as well. Most probably government will bring its own crypto. But that will definitely boost the volume in cryptos because if not all, a few will definitely shift in cryptos. The utility is what we need to take crypto to the moon. We need to hit $1 trillion market cap.

i am believed they will legalize cryptocurrency in their country as preparation their policy stop using cash.maybe digital and cryptocurrency could be the solution in sweden.it will decrease crime action.

teosanru

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But I doubt the whole volume will shift to cryptos. There are other ways as well. Most probably government will bring its own crypto. But that will definitely boost the volume in cryptos because if not all, a few will definitely shift in cryptos. The utility is what we need to take crypto to the moon. We need to hit $1 trillion market cap.

Ifychuks

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This is one positivity news so far. If Sweden can achieve this adoption of cryptocurrency for a cashless society, then we have a step ahead. There's hope for the future of cryptocurrency.

anatolij.shishkin

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Quote from: bitwise_ranger on March 20, 2019, 05:17:57 AM

"Fuelled in no small part by the increased adoption of alternatives such as cryptocurrency, it seems undeniable that the world is moving closer each day to becoming a globally cashless society."

https://stadivm.com/blog/sweden-cashless-by-2023/

Just in the movie "Time" to pay their electronic time. Of course this is a joke. I think most governments. Not ready for the transition to digital gold.

sockpuppet1911

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Bad news for me if this comes to my country (and it probably does).
For now i have been able to convert btc to cash without any problems and live with that.
But when i try to put too much money on my bank account and use it from there, the bank can just freeze my account, until they know where the money is originated from. (as i can't explain most of the trades and gains)

I am pretty much screwed financially if the large scale bitcoin adoption won't come before that.

leea-1334

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Quote from: Lakai01 on April 20, 2019, 12:33:45 AM

Quote from: pamsugas on March 22, 2019, 06:33:28 PM

hoping in other countries will also follow Sweden. this is the time to develop blockchain adoption for business.

This hasnt anything to do with blockchain adoption. Sweden removes paper money and coins in favour of credit and debit cards. A side effect is that your bank knows EVERYTHING about you now, they know where, when and for what you spend every single cent.

In fact countries like Sweden are not very Bitcoin friendly. You can see in Europe, the Western nations are okay and the Eastern regions as well are extremely favorable towards crypto,,, but as you go up higher north in Scandinavia even the banks are quite against them. This is what people are confusing with when they call Bitcoin digital money. In Sweden and other places digital money is just fiat in electronic form.

bigcash2011

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For this to be really possible i think global population still requires a lot of education and awareness, the data and internet should be available for cheap, smartphone and computers should be available everywhere easily and for minimal price and then comes the use and adoption of crypto and mobile payments so at the moment seems like we are way behind especially of we consider developing and under developed countries.

leavolnhals

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Quote from: bitwise_ranger on March 20, 2019, 05:17:57 AM

"Fuelled in no small part by the increased adoption of alternatives such as cryptocurrency, it seems undeniable that the world is moving closer each day to becoming a globally cashless society."

https://stadivm.com/blog/sweden-cashless-by-2023/

They are definitely heading towards electronic money. but now is not the time for them to use electronic money to pay for everything. Legal procedures and the prestige of businesses have not been guaranteed. But I'm sure one thing, when crypto is ready to serve payment services and is controlled by law, Sweden will be the first country to use it.

masterrex

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Quote from: bitwise_ranger on March 20, 2019, 05:17:57 AM

"Fuelled in no small part by the increased adoption of alternatives such as cryptocurrency, it seems undeniable that the world is moving closer each day to becoming a globally cashless society."

https://stadivm.com/blog/sweden-cashless-by-2023/

Thats great innovation, But can it be sustain for a long time without cash? how about the swedish monetary unit, is it useless already those are few question regarding this matter that needs to be clarified since if Sweden became a successful implementor of that cashless system im sure that more countries are going to follow's Sweden's step on a cashless society.

Greeno Force

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Sweden is a fairly developed country, and I would not be surprised that they will be one of the first to introduce electronic money into daily use, in particular cryptocurrency.

mr_random

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Quote from: Lakai01 on April 20, 2019, 12:33:45 AM

Quote from: pamsugas on March 22, 2019, 06:33:28 PM

hoping in other countries will also follow Sweden. this is the time to develop blockchain adoption for business.

This hasnt anything to do with blockchain adoption. Sweden removes paper money and coins in favour of credit and debit cards. A side effect is that your bank knows EVERYTHING about you now, they know where, when and for what you spend every single cent.

After living in a cashless society, paper money will not be able to survive as a form of payment. Plastic cards and pay to go applications will cover all needs n the daily lives.

Wayan_Pedjeng

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Quote from: Lakai01 on April 20, 2019, 12:33:45 AM

Quote from: pamsugas on March 22, 2019, 06:33:28 PM

hoping in other countries will also follow Sweden. this is the time to develop blockchain adoption for business.

This hasnt anything to do with blockchain adoption. Sweden removes paper money and coins in favour of credit and debit cards. A side effect is that your bank knows EVERYTHING about you now, they know where, when and for what you spend every single cent.

I am not surprised. Sweden is known as one of the most leftist countries in Europe, with some of the highest rax rates. That said, I am not sure how successful this measure can be, as there will be a lot of people out there who does not own credit or debit cards.

harrypotpot

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Quote from: bitwise_ranger on March 20, 2019, 05:17:57 AM

"Fuelled in no small part by the increased adoption of alternatives such as cryptocurrency, it seems undeniable that the world is moving closer each day to becoming a globally cashless society."

https://stadivm.com/blog/sweden-cashless-by-2023/

Before, I am telling my aunt about this matter. What if we stop using cash and start using crypto? She said, that would be impossible to happen. I guess through this post and news regarding sweden, I can not rebut her point and say. Cryptocurrency is the future of money. I really wanted to skip fiats. Let us embrace crypto.

Shatterlean22

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Although the link you provided is not working, you might want to fix that, back to your topic I think it's possible that in the future we might actually see a world of cashless money and for Sweden to do this I'm guessing they have to create there own crypto coin, well it's a good thing and Sweden is not the only one on my list, look at Venezuela too, let's wait and see how the future plays out

Lakai01

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Quote from: pamsugas on March 22, 2019, 06:33:28 PM

hoping in other countries will also follow Sweden. this is the time to develop blockchain adoption for business.

This hasnt anything to do with blockchain adoption. Sweden removes paper money and coins in favour of credit and debit cards. A side effect is that your bank knows EVERYTHING about you now, they know where, when and for what you spend every single cent.

Ailmand

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That's the reason why a country like Sweden grows more economically speaking. They are open for adoption and development that could make every transaction easier and more convenient for them. If most countries would have the same plan as Sweden, I guess blockchain technology would make life lighter.

Topic: Sweden on track to stop using cash by 2023 - page 3. (Read 686 times)