Near communist Sweden is not a country I would follow as an example for almost everything. Money will not disappear as cash is becoming more popular after banking scams, computer hackers emptying out bank accounts, banks themselves emptying out bank accounts, patchy software developed in 3rd world countries emptying out bank accounts, computer glitches emptying out bank accounts, lost or stolen cards resulting in the emptying out of bank accounts and so on and so forth.
What If Money Disappears?
What’s going to happen to money? Until recently the idea of doing without bills and coins seemed like science fiction. But today, it’s a reality. In many countries, money – as we know it – is becoming obsolete. Wallets are being replaced by our ubiquitous smartphones, while banknotes and metal coins are being replaced by digital ones and zeros. In Sweden, for example, 93% of transactions are made through direct transfers using a mobile phone app called Swish. It allows even small amounts to be transferred between individuals instantly and at very low cost. But it’s not only the prosperous and ... (full story)