E-Cash Concerns

[Gozie51]

However, this trend is difficult to break. And in the future, people will increasingly refuse cash.

I still think that we are in the era of cash and in the near future. Refusal of cash? Maybe not in the near future, perhaps maybe when all of us might have gone. There are lots of times when the electronic system does not work for you to transfer cash through your gadget (which is the main goal of cashless) because of bad network connectivity and what do you do at such times when you are in the need for the transaction. Banks have limited the physical banking system using AI but at times they encounter network challenges that makes the AI not to be efficient. There are many more disadvantages for taking off cash totally from the system at least not yet.

[Becassine]

Digital money is always transmitted via a trusted third party: the bank.

Digital money can therefore :

- be confiscated
- be stolen
- not be available (bug, network problem, etc.)
- incur costs and drive up prices.

Banks make a lot of money with bankcards and want to cut cash costs, so they're removing ATMs.

And now they want to impose central bank currencies. It's certainly not just to combat fraud...

[Smartprofit]

However, this trend is difficult to break. And in the future, people will increasingly refuse cash.

No doubt and even you will see the downsides ones there is no more electricity, No or hardly any wifi.
Cash is your friend, convenience is is not your friend in hard times.

Yes, such situations have happened. For example, in one post-Soviet republic there was a popular uprising and a change of power. The first thing the looters did was plunder grocery stores and destroy ATMs. At the same time, the government completely disconnected the Internet throughout the country... That is, cashless payments in the country instantly became impossible, and plastic bank cards became useless.

This example shows the importance of cash.

Those people who had it at that time could buy what they needed - food, gasoline, etc. In addition, if you do not want corporations and governments to monitor your every move, then cash is also the best solution.

Cash is the best anonymous and confidential currency (perhaps only the Monero cryptocurrency can partially compete with cash).

[shield132]

Sweden and Norway are the forerunners when it comes to cashless societies.
They don't feel that comfy in face of the rising threat of cyber insecurity.

What that point not raised in the decision making circles? Wonderment it causes.

Sweden is not the only Nordic country backpedalling on plans for a cashless society. Last year Norway, which has a popular equivalent to Swish called Vipps MobilePay, brought in legislation that means retailers can be fined or sanctioned if they will not accept cash. The government has also recommended that citizens “keep some cash on hand due to the vulnerabilities of digital payment solutions to cyber-attacks”.

Norway’s former justice and emergencies minister Emilie Mehl put it in clear terms: “If no one pays with cash and no one accepts cash, cash will no longer be a real emergency solution once the crisis is upon us.”

Ultimately, when it comes to emergency planning, the world’s two most cashless societies are still banking on cash.

The entire article rises the point in a rather smallish proportion.



https://www.theguardian.com/technology/2025/mar/16/sweden-cash-digital-payments-electronic-banking-security

Sweden is a fascinating country. It was the only country that didn't set strict regulations immediately during the Covid. My close friend lives in Sweden and she enjoys life there. Nordic countries have a very high reputation in my area for high quality and good people. It's excellent that they are getting ready earlier and will say no to the full digitalization of cash because it will ruin every country. Full digitalization means that governments will be able to ban anyone's pocket they wish and any government that will have access to full digitalization of cash, will remain like a king where the next ruler is the son of the king, it will be like a heritage because no one will be able to protest government's decisions or they'll be left without money.

[arabspaceship123]

I've read about places in Sweden & Norway where they don't accept cash but it's changing. 2025 stats for Sweden are 1 in 10 purchases made with cash. Bank cards & Swish app are common but they're making plans to bring cash back. They've stopped plans for e-krona crypto because of cyber attacks. Norway's made it illegal for shops to refuse cash payments. They're asking ppl to carry cash because they'll need it if a cyber attacks shuts down their digital payments system.

[Stella Mese]

However, this trend is difficult to break. And in the future, people will increasingly refuse cash.

I still think that we are in the era of cash and in the near future. Refusal of cash? Maybe not in the near future, perhaps maybe when all of us might have gone. There are lots of times when the electronic system does not work for you to transfer cash through your gadget (which is the main goal of cashless) because of bad network connectivity and what do you do at such times when you are in the need for the transaction. Banks have limited the physical banking system using AI but at times they encounter network challenges that makes the AI not to be efficient. There are many more disadvantages for taking off cash totally from the system at least not yet.

Yes, of course, it can be a thought about the advantages and disadvantages that are obtained, if cash is replaced with a gadget or electronic system, there are indeed conveniences that are obtained but it takes time to get there, because the network is the main thing when transactions are made, and it must be really smooth when when cash switches to non-cash money, of course there are weaknesses that must be fixed when replacing it.

[MahJongss]

I am sure that without coercive treasures from the government, no country will voluntarily switch to full electronic money. It seems to me that flew countries have such a level of trust in their government (several in Europe, perhaps Singapore and the UAE - but these are my assumptions). Units for sure. Therefore, the whole world will definitely not be digitized in this regard soon.

[arabspaceship123]

You didn't say any thing about cyber threats which's why Sweden & Norway are reintroducing cash. They don't have a defence against a wave of cyber attacks which could disable their e-payments network. They're asking ppl to carry to cash because they'll have to be prepared.

Yes, of course, it can be a thought about the advantages and disadvantages that are obtained, if cash is replaced with a gadget or electronic system, there are indeed conveniences that are obtained but it takes time to get there, because the network is the main thing when transactions are made, and it must be really smooth when when cash switches to non-cash money, of course there are weaknesses that must be fixed when replacing it.

[davis196]

It seems to me that the European Union countries have way too many payment methods at hand which they want people to use for paying for stuff with. And when I say this I mean there's about 5-10 of them.

It's almost like I the USA how there's PayPal/ Venmo / Zelle / Cash App but most of these are not forced on you, besides PayPal I guess.

What "way too many payment methods" are you talking about? Most people in the EU are using credit/debit cards for both online and offline payments. The big European payment services like Skrill are way less popular in comparison to Paypal. Most relatively big fintech companies in Europe are located in the UK(not a EU member) or the Baltic countries like Estonia. Can you mention at least 5-10 big European payment service providers, because I can't?
Anyway, the idea of a cashless society is and it will always be a dystopia. Cash is here to stay and it will remain dominant in the next few decades.

[Findingnemo]

Governments are trying to make their people to go cashless transactions is for tracking purpose, if every transaction is happening via digital payments then they have can track whenever they want and people who prefer privacy will go with cash but governments are trying to impose restrictions on cash spending like a cap limit, so I can't buy something with cash if the price exceeds $3000.

So this statement is interesting and not sure what effect it is going to bring to the society but at least some will use cash which gives some control over their spending compared to completely digital wallets.

[moneystery]

if we want to see how people really care about their privacy, then we can take the example of the majority of german people who still use cash for reasons of privacy and their personal data. it's not that non-cash payments don't exist in germany, but the majority of people there notice that they don't need to switch to using non-cash payments. they see cash payments as easier, faster, and you don't have to worry that your device will be hacked and you will lose your money.

this can be an example to us of the importance of keeping cash in your wallet and i personally think so too, even though i sometimes use non-cash payments, there is always cash in my wallet to guard against internet problems, or other unexpected things.

[lizarder]

Sweden and Norway are the forerunners when it comes to cashless societies.
They don't feel that comfy in face of the rising threat of cyber insecurity.

What that point not raised in the decision making circles? Wonderment it causes.  

If they are indeed uncomfortable with the increasing threat of cyber insecurity, why are these two countries pioneering a cashless society? Isn't a payment system using other methods besides cash also quite dangerous to the vulnerability of theft by hackers. I don't know for sure because they don't try to trace the authenticity of what they might be planning, but the availability of increasingly developing technology may be a step they are planning.

This is in line with the many payment methods that exist in the world now, but can these methods be achieved if the community itself feels uncomfortable with payment methods other than using cash. Young people today may be more interested in using payments other than cash because of the convenience and speed available.

[Dailyscript]

It seems to me that the European Union countries have way too many payment methods at hand which they want people to use for paying for stuff with. And when I say this I mean there's about 5-10 of them.

It's almost like I the USA how there's PayPal/ Venmo / Zelle / Cash App but most of these are not forced on you, besides PayPal I guess.

Digital payments are mostly in two kinds. Which are the local payment and the international payment system. The Europeans have Apple Pay, Google Pay, Samsung Pay, PayPal, Revolut, Wisevest as an international means of making payment on B2B services or P2B2B services. While their  are local payment system specifically for the individual countries.

Same thing goes for the USA, if you summarized the entire USA payment method including international and local states it will be up to 5-10.

[WillyAp]

The Europeans have Apple Pay, Google Pay, Samsung Pay, PayPal, Revolut, Wisevest as an international means of making payment on B2B services or P2B2B services.

Of those, only 2 are European. 

[JiiBs]

It seems to me that the European Union countries have way too many payment methods at hand which they want people to use for paying for stuff with. And when I say this I mean there's about 5-10 of them.

It's almost like I the USA how there's PayPal/ Venmo / Zelle / Cash App but most of these are not forced on you, besides PayPal I guess.

Obviously and up to the point of not having to accept cash for a means of payment is a direct rejection of cash (fiat) money for a legal tender which could lead to violation.
Let’s not forget that this cash money is backed by law and its binding to be legally exchanged for goods and services when available.
I don’t know what level of development that would lead to the rejection of cash money in pursuit of a cashless policy. I think the system of a cashless policy shouldn’t abolish cash.

[Synchronice]

Sweden and Norway are the forerunners when it comes to cashless societies.
They don't feel that comfy in face of the rising threat of cyber insecurity.

What that point not raised in the decision making circles? Wonderment it causes.

Sweden is not the only Nordic country backpedalling on plans for a cashless society. Last year Norway, which has a popular equivalent to Swish called Vipps MobilePay, brought in legislation that means retailers can be fined or sanctioned if they will not accept cash. The government has also recommended that citizens “keep some cash on hand due to the vulnerabilities of digital payment solutions to cyber-attacks”.

Norway’s former justice and emergencies minister Emilie Mehl put it in clear terms: “If no one pays with cash and no one accepts cash, cash will no longer be a real emergency solution once the crisis is upon us.”

Ultimately, when it comes to emergency planning, the world’s two most cashless societies are still banking on cash.

The entire article rises the point in a rather smallish proportion.



https://www.theguardian.com/technology/2025/mar/16/sweden-cash-digital-payments-electronic-banking-security

That's a very good thing and I'm really very happy for that. We need cash like we need air. Becoming completely cashless is like giving up our freedom because if government wants to starve you to death, outside in cold, they'll do it with just single ban of our CBDC account. But it's also up on people, they shouldn't abandon cash. Yes, paying with card is comfortable but not comfortable enough to be worthy of giving up on our freedom. One thing that I like about Germany is that people are old-fashioned and usually pay with cash, everywhere. I hope this trend continues.

[Darker45]

As always, cash is king. I'm a big fan of cash. I mean, not fiat itself, but its cold hard form. Paper bills or banknotes; they're way better than digital currencies, especially those issued by central banks.

In terms of privacy alone, cold cash is the ideal money. As far as peer-to-peer transactions are concerned, cold cash gives you that perfect experience. Moreover, cold cash is perfectly trustless. And fungible, too. Your cocaine-contaminated bill, a literally dirty money, is as valuable as that bill coming from a nun's wallet. No internet, no electricity, no phones, no problem with cold cash.

Kudos to Norway for realizing the superiority of cold cash. It's the inspiration of Bitcoin.

[X-ray]

However, this trend is difficult to break. And in the future, people will increasingly refuse cash.

No doubt and even you will see the downsides ones there is no more electricity, No or hardly any wifi.
Cash is your friend, convenience is is not your friend in hard times.

honestly if technology is getting more advanced and we can easily harness energy through something so mundane like sun light at a significantly efficient level does the concern about no more electricity or wifi still stands though?
cutting internet is harder more than ever right now with the presence of something like spaceX.

now solar panel is also getting increasingly good you literally just put it in the roof and you get electricity.

can't think a scenario where electricity and internet will be gone instantly without trace except doomsday or planetary scale disaster, I think e-cash will always be relevant and crypto is just as resilient if not more.

[arabspaceship123]

The idea of a cashless society isn't dystopia. Why are you saying cash's here to stay & will remain dominant in the next few decades after I've posted about 1 in 10 purchases made in Sweden are cash. Most ppl in Sweden use bank cards & Swish app for every day lives. Norway & Sweden have lowest cash circulation in the world.

Anyway, the idea of a cashless society is and it will always be a dystopia. Cash is here to stay and it will remain dominant in the next few decades.

[Lida93]

Before, many are enthusiastic about cashless society and now we're going back. I think that's why there is no need to completely remove paper money.

Yes the excitement initially was there when the digital cashless payment system were introduced and that was when majority hasn't realized the disadvantages involved such as vulnerability to cyber attacks and hacks. And additionally not many of elderly feel that convenience in going cashless just as the younger generation does and can easily manoeuvre to get the best out of the system.

Perhaps the the solution to discouraging the use of cash and achieving a complete removal in these societies shouldn't be a matter of force but continually put in measures of improvement on cyber security in a way that it allays the fears of those that still falls back to using cash and refusing going cashless.