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Cashless Future: Sweden Aims to Ditch Paper Money, Blockchain Potential Option

1 pointsby chanfest22over 7 years ago

1 comment

eesmithover 7 years ago
Who in the Swedish government is doing the aiming? Neither the link nor references give anything concrete, only what appears to be hype about how it could be possible.<p>Why would Swedes, who apparently already use low-cost bank cards and a smart phone application called Swish, want to switch to a cryptocurrency?<p>The reason given was to empower: &#x27;the unbankables’ - that is people without a bank account - and those who do not own a smartphone. Bitcoin, however, has the ability to solve those problems through technology. Users do not require a bank account, and they can, in effect, spend their money anonymously.<p>How can those without a smartphone use a cryptocurrency?<p>What are the transaction fees for Bitcoin these days, vs. the cost for using a Swedish debit card or Swift?