Sweden's cashless society is no longer a utopia

Post by [deleted] » Tue, Nov 13, 2018, 1:17 PM UTC

clintonb wrote: post #16

hannasanarion wrote: post #7

Why 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…

> The development raises some crucial issues regarding the state’s role in the payment market. For hundreds of years, the public has been offered central bank notes and coins. If cash stops working, it would leave all individuals to rely on the private sector alone to get access to money and payment methods. This would be a historical change without precedence. Norway is seeing a similar trend, and the two central ba…

Post by AngryAnt » Tue, Nov 13, 2018, 2:49 PM UTC

StanislavPetrov wrote: post #269

One thing I haven't seen mentioned which is of particular concern given recent developments is that if society is cashless, what if the bank or "swish" or whatever private company is running cashless transactions decides to "deplatform" you because they don't like your political opinions (or the color of your tie, or anything else). Its one thing for a social media site to erase someone's online presence, or a hostin…

Post by timeseries2018 » Thu, Nov 15, 2018, 12:03 AM UTC

Evidlo wrote: post #404

o-o- wrote: post #330

Earlier quoted context omitted.

> if the condition persists even few days it becomes a major problem How much cash does a person keep handy? If the condition persists a few days, cash would also become a major problem.

At least you can still pay and be payed. Sure you lose access to the bulk of your savings, but there can still be economy.

Post by teddyh » Sat, Nov 17, 2018, 11:29 PM UTC

belorn wrote: post #236

eksemplar wrote: post #123

Earlier quoted context omitted.

That’s festival payment done wrong, but cashless can be really great at festivals. In Denmark we have a festival called Skanderborg festival, and they build both your ticket and your cashless payment into the festival bracelet. You use the bracelet to pay everywhere, and you can add money to it a range of payment methods, from using a visa or similar in their app, to visiting one of the cash places where you can use…

Those system don't have to follow the same regulations as banks and thus have many more ways to extra money that might not be as obvious. Money when converted to tokens and credit are not money in the eye of the law, even if it is used identically to money and is the only currency allowed. If you are lucky they will return any unused credit automatic to your credit card without any fees. I would like to know how comm…