Sweden on track to stop using cash by 2023

[bitwise_ranger]

"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/

[Red-Apple]

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!

[Viceroy]

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

[Dasha88fed]

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.

[BurgerCash]

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.

[el kaka22]

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.

[jossiel]

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.

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.

[melomanskiy]

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.

[nikola22]

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

[landoffaucets]

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?

[tippytoes]

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.

[Invigorated]

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.

[daarul50]

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.

[crenfrosck]

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.

[Ranly123]

"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.

[crzy]

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.

[Pasutinmeur]

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.

[Cashi]

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.

[Chachacoin17]

"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.

[pamsugas]

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