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Are We On The Verge Of A Cashless Society?

 
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Valued Member
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288 Posts
 Posted 04/15/2019  09:20 am  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply
https://www.cnbc.com/2019/04/15/nor...or-rusi.html
North Korea could target Southeast Asia's vulnerable crypto sector, says defense think tank

How long does it take to recover if North Korea successfully counterfeits your crypto coins?
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50 Posts
 Posted 04/15/2019  10:20 am  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
I went to a bank yesterday looking for rolled coins. I was told "we don't do that at this branch, we only have ATMS and associates for opening accounts and loans".

So banks are even hearing this way.
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9375 Posts
 Posted 04/16/2019  12:41 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
That sure cuts down on the possibility of being robbed.
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Valued Member
United States
288 Posts
 Posted 04/16/2019  11:46 am  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply
Circulating banknotes and coins per inhabitant in 1991 converted to USD
$2,892 Switzerland
$2,789 Japan
$1,587 Sweden
$1,432 Netherlands
$1,411 Germany
$1,331 Belgium
$1,168 Italy
$1,070 United States
$863 France
$646 Canada
$509 United Kingdom

At this time Sweden had a 10,000kr banknote worth almost $2000. The next year they had a severe banking crisis.

The United Kingdom had demonetized all banknotes except the £1 and £5 during WWII because of fear of Naxi counterfeiting operations. In WWII the £5~$20. UK was slow to introduce higher denomination banknotes with the £50 only re-introduced in 1981.


http://www.cashrepository.com/wp-co...e-Report.pdf
INTRODUCTION BY CURRENCY RESEARCH
Currency Research (CR), the World's Resource for Currency Knowledge, is proud to present the English translation of Björn Eriksson's informative and revealing 2014 white paper, Korten på bordet (Cards on the Table), originally published in Swedish. Eriksson's paper has drawn much-needed attention to this issue in his home country and CR appreciates this opportunity to bring his compelling arguments to the broader international community. In light of recent events in Sweden, this translation could not have come at a more opportune time.

With a widespread shift to digital payments and rapidly disappearing cash services in banks across the country, Sweden is often held up as a model for the move towards the cash-free society. The international media has picked up on this economic experiment and has uncritically disseminated the details of Sweden's move to cashlessness as a success story in cutting costs and reducing crime. The reality, however, is far less utopian.
Edited by PacoMartin
04/16/2019 1:14 pm
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