Sweden on track to stop using cash by 2023

[Bitfling]

"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

[Kurva]

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 ?

[Kurva]

"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

[||bit]

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.

[raven7886]

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.

[stfN2128]

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....

[CryptoKush]

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.

[starblocks]

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

[levanni_90]

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.

[MidnightWolf]

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.

[nimiq.cafe]

It's something extremely worrying as the fungibility and privacy involved with cash will vanish. 
We need cryptocurrencies more than ever.

[nikola22]

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.

[Adriano2010]

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.

[adzino]

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.

[wxa7115]

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.

[adekogbe]

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.

[jdarren]

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

[steveabrahams]

"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.