Sweden's cashless society is no longer a utopia
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Re: Sweden's cashless society is no longer a utopia
#2More appropriate name would be "dystopia" because banning cash will have mostly adverse effects, intruducing nearly-totalitarian control over the citizens being the most important one.
Re: Sweden's cashless society is no longer a utopia
#3More appropriate name would be "dystopia" because banning cash will have mostly adverse effects, intruducing nearly-totalitarian control over the citizens being the most important one.
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Re: Sweden's cashless society is no longer a utopia
#4More appropriate name would be "dystopia" because banning cash will have mostly adverse effects, intruducing nearly-totalitarian control over the citizens being the most important one.
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Re: Sweden's cashless society is no longer a utopia
#5More appropriate name would be "dystopia" because banning cash will have mostly adverse effects, intruducing nearly-totalitarian control over the citizens being the most important one.
It's a utopia for big companies and governments, which are the ones paying for the op-eds that praise cashless societies.
Re: Sweden's cashless society is no longer a utopia
#6Hmmm... quote,
> The basic concept for e-krona is as follows: it would be digital, and have a 1-to-1 conversion with an ordinary krona held in an account at the Riksbank or stored locally, for example on a card or in a mobile phone app.
> The technology to build a functioning e-krona is already available today. It is not dependent on using distributed ledger technology and it is not to be confused with cryptocurrencies.
I'd like to know what this available technology is, that can create a digital object that guarantees a 1:1 correspondence to a physical asset, cannot be duplicated or multiple-spent. Has Sweden discovered the un-copy-able bit?
Re: Sweden's cashless society is no longer a utopia
#7Why does there need to be a separate government issued digital currency?
Presumably all of the private accounts that people are currently using are measured in Kr already, and the banks already operate at fractional reserve so the actual paper doesn't exist. As an American, I make about one cash purchase a year, but that doesn't mean that I'm not spending US Dollars.
It seems to me that calling digital money "e-krona" will change exactly nothing but nomenclature.
Re: Sweden's cashless society is no longer a utopia
#8Hmmm... quote, > The basic concept for e-krona is as follows: it would be digital, and have a 1-to-1 conversion with an ordinary krona held in an account at the Riksbank or stored locally, for example on a card or in a mobile phone app. > The technology to build a functioning e-krona is already available today. It is not dependent on using distributed ledger technology and it is not to be confused with cryptocurrenci…
How about a database on a server owned by the Riksbank?
Re: Sweden's cashless society is no longer a utopia
#9Hmmm... quote, > The basic concept for e-krona is as follows: it would be digital, and have a 1-to-1 conversion with an ordinary krona held in an account at the Riksbank or stored locally, for example on a card or in a mobile phone app. > The technology to build a functioning e-krona is already available today. It is not dependent on using distributed ledger technology and it is not to be confused with cryptocurrenci…
Banks, Visa, PayPal, pretty much most in-game currencies, as long as your maintain control over the data storage and deny access to malicious actors there is no reason why a traditional DB system would not work.
Re: Sweden's cashless society is no longer a utopia
#10Why does there need to be a separate government issued digital currency? Presumably all of the private accounts that people are currently using are measured in Kr already, and the banks already operate at fractional reserve so the actual paper doesn't exist. As an American, I make about one cash purchase a year, but that doesn't mean that I'm not spending US Dollars. It seems to me that calling digital money "e-krona…
It changes the value fluctuations. Right now the biggest problem with using crypto as your day to day money is that you cannot trust the money that you put into crypto to stay at the same value over time + transactions are slow.