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JollyGood
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January 15, 2020, 08:43:19 PM
Last edit: January 15, 2020, 10:21:17 PM by JollyGood
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 #1

Please note the thread has been moved here: https://bitcointalk.org/index.php?topic=5217964.0





Sweden is on course to become the first country that will become cashless as the use of bank cards is rising fast.

Between 2016 and 2018 card payments increased by 25 per cent while cash payments declined by 25% so currently around 80% of all the population of Sweden use a card to pay for transactions:
https://sweden.se/business/cashless-society/

Swish App was a result of 6 of the biggest Swedish banks getting together so 7 million use it to make/receive payments or plain old credit/debit cards: https://www.swish.nu/about-swish

In Sweden the gradual transition between using and not using cash has led to more people using debit/credit cards to make payments (and signing up to Swish) so has the window of opportunity been missed for crypto to have taken its place alongside the bank card and Swish payments in Sweden?

Without looking at crypto debit cards as an option because crypto such as BTC and ETH are converted to USD/GBP/EUR before being used for payments, what do you think could be done to help increase crypto usage in a near-cashless society such as Sweden using real-time P2P payments as envisioned by Satoshi? The most obvious option that comes to mind would be having a mass roll out of crypto payment devices such as the XPOS that Pundi X created.

What are your views?


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January 15, 2020, 09:26:45 PM
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what do you think could be done to help increase crypto usage in a near-cashless society such as Sweden using real-time P2P payments as envisioned by Satoshi?
Probably not much--the way I see it, crypto adoption depends on people having trouble using fiat (or not trusting it or the banking system).  Thus far I don't think people are clamoring for an alternative to fiat except for hardcore bitcoiners, and that population doesn't represent the majority by any means.  As it stands, the average person would have to purchase bitcoin first, then find a merchant that takes it, and then proceed with the purchase.  It's completely unnecessary when everything is priced in terms of fiat and people receive their paychecks in fiat.  There's no need for the average person to introduce another step in what could be a simple financial transaction just to spend bitcoin instead of fiat.

I'm not even sure going cashless is a great idea anyway, because if all you use is a debit/credit card, you're giving up a lot of your privacy.  Most people don't even think about that, but I'd rather not have all my financial transactions known by banks and the government.  Not that I only use cash, because I don't.  I'm guilty of using plastic quite often.  Anyway, the most anonymous way to pay for anything is with physical cash, and I'd hate to see it eliminated entirely.

This thread will be self-moderated because those posting here with Yobit banners displayed will probably have their posts deleted as soon as I see them.
Good call on that one.

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