Sweden

SWEDEN: PREDICTION OF A ”CASHLESS SOCIETY” IN FIVE YEARS…….

The easier it is to monitor and control the people……

In the West, Sweden is as Orwellian of a state as you can get.

Swedes predict 'death' of cash in five years

Swedes are using less cash. Photo: Jessica Gow/TT

Published: 04 Mar 2016 07:25 GMT+01:00

Last year Sweden introduced a series of new banknotes replacing its old kronor notes. But figures suggest these too could be gone from circulation in half a decade if the development towards a cashless society continues.

The Nordic country has already earned a global reputation for its cash-free culture. Cash transactions today represent no more than two percent of the value of all payments made in Sweden, according to the central bank (Riksbanken).

And a report by Swedish Radio on Friday estimates that the figure will drop to below 0.5 percent within the next five years – a trend welcomed by the majority of retailers, banks and card companies.

“Sometimes you have to learn new things. It’s a little awkward for a transitional period, but I think it’s going to be so simple that you pretty soon realize that this is a lot easier and better than having cash,” said working environment ombudsman Krister Colde of the Commercial Employees’ Union (Handels).

More here.

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