Sweden on track to stop using cash by 2023

steveabrahams

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Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

It's not directly to cryptocurrency news but it seems a good news for me. Cashless means cryptocurrency have a chance to go in and IF cryptocurrency success go into sweden, i'm sure many countries will start think about cryptocurrency too. With the advance of technology, our life can become more cashless society.

jdarren

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I am not surprised that Sweden would be first to go cashless. I feel like as a society they are always ahead of the rest of the world whether it's healthcare, environmental care and now moving to a decentralized economy

adekogbe

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Considering Sweden is very dynamic in utilizing advanced installments. Cryptocurrency will assume about job in these future advancenments. Anyway it is More than likely, it is their own centralized advanced money.

The world is setting off to a cashless society, when to see that? no one but time can tell. I don't believe that by definite 2023 Sweden can execute yet on the off chance that they can, other relative nations will begin following their way.

wxa7115

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I think paper money has already become obsolete. Progress is moving forward by leaps and bounds and the world will use electronic money soon.

The use of cash is going down and we can only expect this trend to continue but we cannot say that this is a good thing, if the type of currency that dominates the future is bitcoin or something similar that is independent from governments control then without a doubt that is going to be something good.

But if in the future the currency that dominates is controlled by the governments then it is going to be terrible since they could control and monitor your life and if at some point they decide that they do not like what you are doing they could freeze all your money and without the alternative of cash then you will have no way to get food or a place to live.

adzino

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Good they are going cashless. But now what kind of cashless society are they willing to take? Are they opting for crypto currencies or just some regular digital currency system which is backed by their fiat currency system. It is probably going to be a centralized system but then again, making it completely decentralized has its own drawbacks too, at least for now. Lets wait and see what happens in 2023. Hopefully other countries will also follow this system.

Adriano2010

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Well then is very good if they choose crypto instead of cash, but maybe they will first try to make all people to use cards and only after some time maybe they will implement crypto.

nikola22

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I don't think that stopping to use cash is a good idea. people will be highly dependent on electronic ways of payments and it's no good.

nimiq.cafe

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It's something extremely worrying as the fungibility and privacy involved with cash will vanish. Undecided

We need cryptocurrencies more than ever.

MidnightWolf

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Quote from: levanni_90 on May 02, 2019, 03:29:37 AM

It is normal that people switch to electronic money. Electronic money is more convenient than cash. Everything goes to the fact that by 2025 there will be no cash at all.

This suggests that banking systems want to move to full control of funds from citizens. Thus, using a credit card will be paid any bills and goods in stores. But this still does not mean that Sweden is ready to switch fully to cryptocurrency.

levanni_90

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It is normal that people switch to electronic money. Electronic money is more convenient than cash. Everything goes to the fact that by 2025 there will be no cash at all.

starblocks

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This is an interesting development and within the next decade more and more societies will likely adopt a blockchain based method of payment, whether it be a centralized state or central bank issued digital currency or a decentralized cryptocurrency like Bitcoin, and this will help these types of technologies achieve mainstream adoption and become more widely used in everyday life

CryptoKush

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I like this initiative. I think that every year less people will use cash. It will be good if it affects the popularity of Bitcoin. Bitcoin has many advantages over digital fiat money.

stfN2128

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I think paper money has already become obsolete. Progress is moving forward by leaps and bounds and the world will use electronic money soon.

yes, agreed. But paper money is the last thing which provides you a bit of your privacy. when the govs release there own digital currency and stopping paper money you won't have pricacy anymore, they can freeze your whole life within seconds. No wallet = no money = no life. I'm really afraid of the future.... Undecided

raven7886

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Quote from: shiming on April 26, 2019, 11:39:19 PM

I have to say that Sweden is in the forefront of the world in this respect, and now because of Alipay, WeChat is in China. There are also many people who like mobile payments, they can do things without going out with cash. This is also very convenient.

In my country, virtually most people prefers to operate a cashless system to that of cash society and as the years goes by, cash s gradually becoming less used, now with the invention of cryptocurrency to make the whole cashless things easier, cash may soon become a thing that will be forgotten soon.

For this reason of more interest in cashless system, we have to believe in the future of cryptocurrency and whatever actions we presently in the system are performing now should be for the future, early adopters of cryptocurrency are the ones that will really get benefits out of the system, which we have to endeavor to be among them.

||bit

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Paper money is really become a problem. I mean, i don't hold any cash but rarely some are not accepting any cards. So i would love this for my country.

But on the other hand, i don't think it has any relevance about altcoins.

Kurva

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Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

Not only Sweden Pakistan doing the same. And i think many others will follow.

https://www.coindesk.com/pakistan-central-bank-eyes-digital-currency-launch-by-2025

Kurva

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Quote from: Red-Apple on March 20, 2019, 06:35:41 AM

Quote from: bitwise_ranger on March 20, 2019, 06:17:57 AM

the increased adoption of alternatives such as cryptocurrency,

what they are really doing in different places is that they are creating their own centralized cryptocurrency like what JP Morgan bank, Venezuela and a couple of other countries and banks have been doing in the past 3 years.

it has nothing to do with bitcoin or altcoins or this forum because it is centralized!

What you say is 100% correct. But in 5-10 years we all will get our monthly selary in Crypto in some sort of stable coin. But in that time i think most or at least the biggest exchanges will support deposit/withdraw so this is all closer to mass adoption. And some of the biggest coins like BTC,ETH,LTC or someone else will also be huge. The new stable coins will not take over the whol market. It will be like the .com bubble and just a few OG coins will be alive and used. But who are these coins ? That we not know thats why its clever to stock up coins from the top 10 in the future imo.

Thoughts ?

Bitfling

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Quote from: Pffrt on April 26, 2019, 09:30:38 PM

Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

That will be happened to most of the countries. Due to the financial crisis in Venezuela, almost 60% of their population is now heavily interested in cryptocurrency. And the same will happen in some country too. I'm expecting a huge crisis world wide before the mass adoption of the cryptocurrency.

Most country in the world want to change their paper money to digital money. If cryptocurrency regulated by government, i am believe cryptocurrency can dominate transaction because crypto already getting more popular. Its good investment and not just currency, bussiness will adopting blockchain technology

shiming

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I have to say that Sweden is in the forefront of the world in this respect, and now because of Alipay, WeChat is in China. There are also many people who like mobile payments, they can do things without going out with cash. This is also very convenient.

bison

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Quote from: Pffrt on April 26, 2019, 09:30:38 PM

Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

That will be happened to most of the countries. Due to the financial crisis in Venezuela, almost 60% of their population is now heavily interested in cryptocurrency. And the same will happen in some country too. I'm expecting a huge crisis world wide before the mass adoption of the cryptocurrency.

It is true that all the possibilities of the threat of a financial crisis that will occur in some of the world can occur if the finance department of various countries does not have a good arrangement, I think it will happen, just need to wait for the time when that happens.

sh4dtechnr

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Cryptocurrency mass adaptation is already happening and there are already visa cryptocurrency cards which are accepted EVERYWHERE in the world!

burky155

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This is amazing news! I haven't heard it before. The 2023 is not far away opposite way it is too near, only 4 years left.. I am very excited right now.. As far as i know the Sweden is one of the richest country in the World. And if Sweden stops using paper Money there would be many more country would do the same! I wish this news will become real in 2023..

Pffrt

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Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

That will be happened to most of the countries. Due to the financial crisis in Venezuela, almost 60% of their population is now heavily interested in cryptocurrency. And the same will happen in some country too. I'm expecting a huge crisis world wide before the mass adoption of the cryptocurrency.

jcarlo

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Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

Sweden already became cashless society for several years and i think its not cryptocurrency but its digital money. Its good start because when people start to move to digital, peoples money more secure and hopely in near future, cryptocurrency can adopted in many country as currency too

cryptowolfsu

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Cashless society will become a reality in a few years and not only in Sweden. Even elder persons
can see the benefit of digital payments and more and more people selecting such payment
options. Crypto will speed up the process.

Dobolen

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Cryptocurrency is a very large industry and has very good technology. So that now experiencing very rapid development, even now many countries have given permission to use Cryptocurrency. So now this technology is an alternative to excellent payment media.

budakjawa

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Quote from: isen on April 26, 2019, 05:23:52 PM

One of the most progressive countries on which it is necessary to be equal to everything, and the Swedes have a very high level of personal responsibility.

each country has a different idea so that in each country there are different regulations.
maybe that is a good thing in Sweden if you do digital or Crypto currency transactions directly, but there may be risks that will occur.
because of course there will be negative and positive things.

Serve20

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Though this their concept is still not a fully decentralized cryptocurrency but all the same, I think this is good cryptocurrency and it is q sign of many things to happen in the later future as fiat currency is no longer sustainable and there is a need for a new medium of exchange which crypto can fully fit in.

isen

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One of the most progressive countries on which it is necessary to be equal to everything, and the Swedes have a very high level of personal responsibility.

Samboo

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Not only Sweden, all countries around the world would join cryptocurrency and accept its importance in the sphere of transaction sooner or latter. Sweden is only the beginning point. What would it feel when people stop using fiat money? I would tour the world without fear of being robbed of my money and would pay for everything in cryptocurrencies. I am collecting different kinds of coins.

futile-resistance

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Quote from: Lakai01 on April 20, 2019, 01:33:45 AM

Quote from: pamsugas on March 22, 2019, 07:33:28 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.

It might not have anything to do with blockchain now, but once the citizens get to know about what blockchain tech is all about, and they get introduced to cryptocurrency, this system their government created that I am sure they are fed up with will pressure them into adopting cryptocurrency.

This will cause a lot of people to transfer most of their money from the bank into the blockchain wallet to further protect the monitoring of their transaction and their money. What Sweden has done will eventually backfired for them, for not given their citizens full freedom over their transactions.

Rune

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these articles come out every week about some future thing that will happen and then it never turns into anything reminds me about the articles about medicine.

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Argoo

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Quote from: Dasha88fed on March 22, 2019, 11:39:19 AM

I think that this is a good example for neighboring countries to give up cash and create a cashless society. I am sure that after Sweden, Norway and Finland will go to bank transfer. In this case, it will be much easier for citizens of these countries to start using them than for countries that have not switched to cashless payments.

I doubt that Sweden will really refuse to use cash. In my opinion, this is not yet possible. Of course, technically highly developed countries with high incomes of citizens can try to switch exclusively to non-cash forms of payment. However, it seems to me that there will always be situations. when cash is needed.

micalith

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Apparently no one like the idea because Sweden wants to create a centralised blockchain based system. Yes, we can combine blockchain with everything and this is the best part of it. But on the other hand, nobody likes a centralised payment system.

prtty2gal2

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Quote from: Red-Apple on March 20, 2019, 06:35:41 AM

Quote from: bitwise_ranger on March 20, 2019, 06:17:57 AM

the increased adoption of alternatives such as cryptocurrency,

what they are really doing in different places is that they are creating their own centralized cryptocurrency like what JP Morgan bank, Venezuela and a couple of other countries and banks have been doing in the past 3 years.

it has nothing to do with bitcoin or altcoins or this forum because it is centralized!

I don't think owning a centralized digital currency can ever work to solve the problem of the recession coming into the world in the nearest future, because it is as same as fiat since a lot of coin can be generated by those who created it, but a decentralized system cannot be controlled even by those who created it, this is why we are going to see the value of decentralized coin soar, because a lot of persons will lose hope in the government and look for alternatives system of income, since the first system has failed everyone already, and Crypto will be the only alternative.

wuvdoll

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Sweden is not stopping using cash because of crypto currency alone, if you read the article they have plenty of other stuff they rely on as well and honestly that is about the same in many countries as well.

Think of your own country, I don't care where you are from but wherever you are from and specially if its a first world country I am pretty sure that you are already paying for most things in either debit cards or credit cards as it is, all big movements like home purchases or car purchases already happen from one account to another. It means there is already very small few things that we pay in cash already and that is why moving to completely cashless society wouldn't be a huge challenge. Maybe Sweden will be the first one but I am sure everyone eventually will follow them.

Galley

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Fully refuse cash in the near future certainly will not succeed. And to get centralized control over all payments is not a good prospect. Cryptography was originally conceived of as a decentralized structure, and it would be great if it remained so.

finzyoj

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This topic is interesting so I decided to open the link for further details but I couldn't, why is that? Seems there's an error. Because of that I'm force to browse Google and search for related articles. Anyway, it's fine.

According to what I've read, Sweden is the first countey in Europe who used banknotes (1661) and also will be the first one who will be an official cashless society by March 2023. Just wow! It seems that Sweden are more advance to the world, I guess as advance as the aliens. Just kidding Lol.

Furthermore, a certain part of the article made my jaw drop. Here it is,

Quote from: SistaFista on April 20, 2019, 12:22:38 PM

I think we are still far from the cashless society because there are still many peoples using cash money.
Even there are peoples who doesn't have any bank accounts nowadays.
At least they must know how bank accounts and virtual money works, so they can transact each others cashless.

It doesn't really matter now. If Sweden did it, of course we can as well. The bottomline, cashless society is feasible.

SistaFista

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Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

I think we are still far from the cashless society because there are still many peoples using cash money.
Even there are peoples who doesn't have any bank accounts nowadays.
At least they must know how bank accounts and virtual money works, so they can transact each others cashless.

shimbark123

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Elon Musk, a known personality said the same way but this is a world situation. We can have a cashless society in the future. And I hope that it is near. Once that happens, it will be a very big mass(a excited redundant expression) adoption in the whole world and cryptocurrency will be known worldwide. A mass adoption is greatly needed for this.

sockpuppet1911

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Quote from: crenfrosck on March 22, 2019, 07:05:11 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, 04:27:18 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, 06:42:46 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, 06:17:57 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, 01:33:45 AM

Quote from: pamsugas on March 22, 2019, 07:33:28 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, 06:17:57 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, 06:17:57 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, 01:33:45 AM

Quote from: pamsugas on March 22, 2019, 07:33:28 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, 01:33:45 AM

Quote from: pamsugas on March 22, 2019, 07:33:28 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, 06:17:57 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

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Quote from: pamsugas on March 22, 2019, 07:33:28 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.

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Now the world of technology continues to grow and many people who want everything are fast and uncomplicated. Cryptocurrency is one that can be a technology that can be used in the future and now. This cryptocurrency can be a digital currency that is currently popular. And many countries will use Blockchain technology.

honolulumark

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Knowledge is power

They'll start using BNB Cool

Subal_Damudar

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Quote from: Badhuamin on April 02, 2019, 07:18:49 PM

maybe this can happen in the future because if Bitcoin and Altcoin have been received in each country then everyone can use it to buy something in that country.

You make no sense mister. Why use Bitcoin and altcoin that is irreversible when people already used to reversible ideology? take india for example. we want to become digital but we ban crypto. similarly there are other stupid countries around the world.

Badhuamin

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maybe this can happen in the future because if Bitcoin and Altcoin have been received in each country then everyone can use it to buy something in that country.

honolulumark

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Knowledge is power

hej

cytpoway121

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Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

Cashless is more of an exaggeration

Crypto currency and blockchain is to make life easier not extreme

With blockchain helping with fast and quick transfers; it has supported fiat and funds transfer
Stop thinking about an eradication

Pasutinmeur

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Activity: 302

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Quote from: coinbirds on April 02, 2019, 06:17:36 PM

2023 is a bit optimistic but we are clearly heading towards cashless society.
Even now you can pay everything by mobile in seconds and new solutions are on the way with crypto payments.
This is here and real.

Crypto payment will be the next solution on a payment system that offers high security and privacy, as long as we are doing it very well and we will not have any problem with it. Japan is about adopting crypto more and more. We don't need cash in the future

Mmesooma1

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Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

Spending cash is expensive, bogus and less secure. Sweden has taken a positive way to globally connect its economy. I see other ict compliant or friendly countries to join suit in the revolution

coinbirds

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2023 is a bit optimistic but we are clearly heading towards cashless society.
Even now you can pay everything by mobile in seconds and new solutions are on the way with crypto payments.
This is here and real.

monalia

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Activity: 685

Merit: 14

Quote from: semobo on April 02, 2019, 02:29:35 PM

Quote from: ivaf on April 02, 2019, 02:17:57 PM

Listen how interesting! Is the new financial revolution close? If the information from the article is true, then I will be impatiently waiting for the continuation of this story.

Even if this is truse they might look for other options not the decentralized payment system becaue people are going to get much benefits on this and most of the goverments won't like it to be happen.

If this accept automatically they put some regulations in decentralized platform so automatically government should undertaking the cryptocurrency. I thought it takes sometime because still perfect conclusion will not reached so time duration varied at anytime.

qazgroup

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Activity: 1022

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RiveMont

Yeahmore and morecountries and governments are literally now thinking seriously to move to digital currencies some of them are even thinking to launch state coin i think these are massive events and indicate massive times ahead for blockchain and crypto.

semobo

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Quote from: ivaf on April 02, 2019, 02:17:57 PM

Listen how interesting! Is the new financial revolution close? If the information from the article is true, then I will be impatiently waiting for the continuation of this story.

Even if this is truse they might look for other options not the decentralized payment system becaue people are going to get much benefits on this and most of the goverments won't like it to be happen.

ivaf

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Listen how interesting! Is the new financial revolution close? If the information from the article is true, then I will be impatiently waiting for the continuation of this story.

elitemobb

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This is very good news, the legalization of cryptocurrencies in a particular country is a great chance for the revitalization of cryptocurrencies for the public and I think this is great.

cchub

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Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

Cash is good for money laundering, while bitcoin can be traced. No wonder why they want to be cashless.

DeathProxy

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Gradually the global world is beginning to adopt this wonderful technology. Though its taking time but definetly blockchain and cryptocurrency will move mainstream

jackflag

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Glad to see you

Quote from: Kiweikoo on March 31, 2019, 05:05:17 PM

We have a lot of countries already trying to stop the use of cash in their country not because they want to adopt crypto but because they want to introduce cashless policy, so that users will end up sending figures within themselves whereby the real cash has been used by the banks to do business so that they can make a lot of money and still charge us transaction fee for sending digits from one person to another.

Perhaps Sweden will be the first country to be able to abandon fiat money and fully transfer to cryptocurrency. We will observe this process.

Kiweikoo

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We have a lot of countries already trying to stop the use of cash in their country not because they want to adopt crypto but because they want to introduce cashless policy, so that users will end up sending figures within themselves whereby the real cash has been used by the banks to do business so that they can make a lot of money and still charge us transaction fee for sending digits from one person to another.

sandra_x

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While the news that much of the world show preference for a "cashless" society,it is unlikely it will be phased out that soon enough.I do not believe it to be a strong argument for cryptocurrencies also as the proposal for a cashless society does not spell decentralization .You basically will have your fiats in electronic form

pamsugas

sr. member

Activity: 1092

Merit: 255

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

Chachacoin17

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Activity: 672

Merit: 250

Quote from: Ranly123 on March 22, 2019, 07:08:59 PM

Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

It's indeed a good move by the Swedish authority to become a cashless society but realizing it at 2023 is a bit too soon to happen. Maybe 5-10 years from now it will do because they citizens will adjust and a lot more adjustments to do to make it a reality.

This plans will go along way and probably raises the reputation of bitcoin as well as adoption takes place, once it has been implemented along. The people in each country should support this type of diversions of payment system, because that brought good opportunities and convenience. However they need to be more open minded and be more positive in dealing with this changes during actual implementation, because some challenges might occur.

Cashi

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But it is different from a system users would like to have because they replace the cash system with a cashless fiat system in Sweden. It will be a centralized system so I don't see any advantages.

Pasutinmeur

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Quote from: Viceroy on March 21, 2019, 11:25:51 AM

They create a centralized payment system based on blockchain technology. How does this relate to this forum and the crypto community?

But it's much better rather than use fiat cash anytime and get fooled by the FED and IMF. That needs a lot of time but i believe that will give an advantage to the cryptocurrency in the future because that needs the time.

crzy

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Quote from: nikola22 on March 22, 2019, 05:57:06 PM

Sweden is quite progressive in using digital payments so I it won't be a surprise foe me they stop using cash by 2023.

It is indeed a great place to use cryptocurrency, so many project there that is crypto related so i think this is really possible to happen. But i think fiat money will still be there since they still need it for trading into different countries as well as the tourist of course.

Ranly123

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Quote from: bitwise_ranger on March 20, 2019, 06:17:57 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/

It's indeed a good move by the Swedish authority to become a cashless society but realizing it at 2023 is a bit too soon to happen. Maybe 5-10 years from now it will do because they citizens will adjust and a lot more adjustments to do to make it a reality.

crenfrosck

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Activity: 470

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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.

daarul50

legendary

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Now we think about it, why do people need money? Even though money made from paper and obtaining raw materials for making money has actually damaged the environment. Is it wrong we all turn to digital money? Actually it's just a different form.

Invigorated

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This could just be the first of many more adoptions of the crypto technology to come. It's looking likely crypto is going to take over soon and it could really become the financial driver of tomorrow. It is unsurprising to see several economies are beginning to take note of its existence. However, it is good to see.

tippytoes

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Quote from: landoffaucets on March 22, 2019, 05:57:26 PM

Interesting, I would rather also use digital currencies instead of using paper money. But in this article it wasn´t directly said that Sweden is going to use cryptocurrencies, right?

More than likely, it is their own centralized digital currency. If they will utilized crypto, then the government has no way of controlling it. And they wouldn't permit such situation. But aiming to be cashless society, it means they might also accept the circulation of crypto in their community. Or they may be loose in terms of crypto regulations.

landoffaucets

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Interesting, I would rather also use digital currencies instead of using paper money. But in this article it wasn´t directly said that Sweden is going to use cryptocurrencies, right?

nikola22

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Sweden is quite progressive in using digital payments so I it won't be a surprise foe me they stop using cash by 2023.

melomanskiy

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complete refusal of cash with bad consequences. Cryptocurrencies are nice, but you should not get rid of Fiat. There are so many factors that will negatively affect the whole society.

jossiel

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DGbet.fun - Crypto Sportsbook

We're truly going to a cashless society, when to see that? only time can tell. I don't think that by exact 2023 Sweden can implement but if they can, other relative countries will start following their path.

Quote from: Viceroy on March 21, 2019, 11:25:51 AM

They create a centralized payment system based on blockchain technology. How does this relate to this forum and the crypto community?

The forum is also about blockchain and these adoptions of the technology should be recognized in the forum too. We understand that blockchain alone can work but looking back on where it all started, it's in here.

el kaka22

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Quote from: Viceroy on March 21, 2019, 11:25:51 AM

They create a centralized payment system based on blockchain technology. How does this relate to this forum and the crypto community?

This is the situation until people will realize the importance of being decentralized. I mean governments and common people start thinking about the importance of having digital payment system for quick and traceable momentary system. This is the reason they are switching over to "cashless society". When people start realizing the advantages of having cross border viable, globally common payment network, they may start using bitcoins. Hence, Sweden's this move is vital in crypto community perspective.

If you are using bitcoins then it means you are ahead of 2 generations. People are still using fiats. They may first turn to digital payments before adopting a decentralized payments.

omone1

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I think they are just going to create their own stable centralized cryptocurrency. This will only create awareness about the already crypto market, but the country's coin is likely not going to directly impact the general coin market capitalization, since it's not going to be traded in the same market as other cryptocurrencies.

BurgerCash

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This is part of their efforts to track EVERY money transfer. This is as anti-bitcoin as it can get, and have no doubts - they're coming for us next. This news is not to be celebrated.

Dasha88fed

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I think that this is a good example for neighboring countries to give up cash and create a cashless society. I am sure that after Sweden, Norway and Finland will go to bank transfer. In this case, it will be much easier for citizens of these countries to start using them than for countries that have not switched to cashless payments.

Viceroy

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They create a centralized payment system based on blockchain technology. How does this relate to this forum and the crypto community?

Red-Apple

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Quote from: bitwise_ranger on March 20, 2019, 06:17:57 AM

the increased adoption of alternatives such as cryptocurrency,

what they are really doing in different places is that they are creating their own centralized cryptocurrency like what JP Morgan bank, Venezuela and a couple of other countries and banks have been doing in the past 3 years.

it has nothing to do with bitcoin or altcoins or this forum because it is centralized!

bitwise_ranger

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"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/

Topic: Sweden on track to stop using cash by 2023 (Read 670 times)