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Sweden Aims to be Cashless Society

Now we all know that this will never happen in Costa Rica as it is not at the level in regards to technology as Sweden and it would also be easy to track all of the illegal corrupt government transactions as they could all be accounted for, but it is an interesting concept. 

Swedes are among the technologically savvy people on the planet, based on their high rates of use of mobile phones and internet banking.

In fact, only three per cent of all financial transactions in the country are made using cash these days. Even public transport tickets can now be pre-paid using mobile phone technology, and most people use similar services to pay for everything from groceries to major purchases.

This will create an environment where every transaction can be traced, tracked and cataloged.  There will be no anonymous transactions in Sweden unless you barter. Illegal transactions will always leave a digital footprint.

Garage sales and paying your neighbor will have to be done as Paypal or another digital transaction.

What are your thoughts on this? Please post below in the comments section.  I am torn as cash makes daily transactions very easy between people but it also means that there will be records of all transactions cutting down on illegal monetary transactions.

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