Last week, I returned from a two-week trip to Europe where I didn’t spend any money at all. Or at least not any cash.
To be clear, I visited Finland, Sweden and Denmark without using any paper money (or coins). I never used any euros or krona or krone. And not only that, I never saw anyone spending money, period. Meaning I didn’t see anyone fumbling around in their pockets for bills, or heaven forbid change. (Not even that drunk guy at the 7-Eleven in Copenhagen.) Everyone used cards and phones.
It really hit me, and so I decided to explore this notion of an increasingly cash-free world. Will money completely disappear? If so, how far along are we? And how is COVID-19 and the rise of crypto shaping this shift? Now I understand the concept of a cashless society isn’t especially new and that cash is hardly dead. Having said that, there are some decidedly new elements here.
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To be clear, I visited Finland, Sweden and Denmark without using any paper money (or coins). I never used any euros or krona or krone. And not only that, I never saw anyone spending money, period. Meaning I didn’t see anyone fumbling around in their pockets for bills, or heaven forbid change. (Not even that drunk guy at the 7-Eleven in Copenhagen.) Everyone used cards and phones.
It really hit me, and so I decided to explore this notion of an increasingly cash-free world. Will money completely disappear? If so, how far along are we? And how is COVID-19 and the rise of crypto shaping this shift? Now I understand the concept of a cashless society isn’t especially new and that cash is hardly dead. Having said that, there are some decidedly new elements here.
Read more
How Cryptocurrencies and Cashless Economy are weakening people
