Post
Topic
Board Economics
Re: Does this mean Cash will be extinct?
by
futile-resistance
on 31/10/2017, 09:11:53 UTC
Sweden is contemplating to stop using cash by 2023, does this mean cash might be extinct if other countries follow suit?

https://www.weforum.org/agenda/2017/10/sweden-could-stop-using-cash-by-2023?utm_content=buffer40bef&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
I think it will probably goes into a digital chaos on the internet if this will imply on any country also hackers will be more active than other time because they want to test their skills and more cybercrimes and attack will be more than ever . This idea will probbaly an absurd one because how they will build the securing and safe measures out of it.

The technology for digital currency is no match for the ease and speed of cash. We need completely different thinking of the technology if digital currency should rival cash.

The article is not about changing to digital currency, it’s about changing to digital delivering method of paper money, namely credit cards and Mobil pay. This will happen within a few years in all Nordic countries and has already been underway for 10+ years.

Bitcoin is not  just a replacement for cash but it is also a great revolution in the economy transfer system as it will change the thinking of people who use it about paying and earning money. Bitcoin payment  methods can be more fast and convenient  and also secure than a cash payment mods as it is a digital currency it has many plus points over the real cash which we use.

I will be difficult to change whole system and only use digital currency it is mostly impossible i think but bitcoin can be used as an alternative to this some times