Cashless Society and the Launch of CBDC


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We have CBDC’s and the cashless society to pay attention to now. Amid a rapid shift towards digital payments, Sweden’s central bank, the Riksbank, is pressing for swift legislative changes to protect the consumers’ right to use cash. While Sweden is globally recognized for its advancements in digital transactions, with many stores now refusing to accept cash payments, concerns are rising about potential digital and financial exclusion. Recent data from Riksbank highlights this trend, noting only 8% of Swedes opted for cash for their recent in-store purchases in 2022, a sharp decrease from 33% a decade earlier. Addressing this shift, Riksbank suggests extending the obligation to accept cash to groceries, fuel, and a broader array of pharmacy items, particularly due to potential outages in power and telecommunications. Additionally, while a government inquiry has dismissed the immediate need for a digital central bank currency, the Riksbank urges preparations for the potential introduction of an e-krona, aligning with potential European Central Bank’s initiatives. #cashlesssociety #cash #CDBC #Sweden #Riksbank #DigitalEuro #fedcoin

Timestamps:
Cashless Society is Incoming 1:25
What Can I Do? 13:00

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