Sweden on track to stop using cash by 2023

[finzyoj]

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,

Both banks and government encourage citizens to adopt the cashless economy.

Am I dreaming? Please wake me up. I can't believe it, their banks and government (which are pro centralization) are the ones who encourage their countrymen to embrace digital payments. That was so amazing.

I thought pursuing mass crypto adoption or let's say cashless society would become a bloody battle, many will contradict which soon lead to destroyed unity but I was wrong. Sweden is the proof that you can attain such thing without getting any forms of chaos. I hope the rest of the countries will become open minded like them.

Source

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.

[Galley]

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.

[wuvdoll]

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.

[prtty2gal2]

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.

[micalith]

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.

[Argoo]

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.

[Rune]

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.

CANCER COULD BE CURED BY 2015 AFTER NEW BREAKTHROUGH!!!
dated -2007

[futile-resistance]

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.

[Samboo]

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.

[isen]

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.

[Serve20]

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.

[budakjawa]

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.

[Dobolen]

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.

[cryptowolfsu]

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.

[jcarlo]

"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

[Pffrt]

"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.

[burky155]

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..

[sh4dtechnr]

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

[bison]

"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.

[shiming]

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.