Sweden may be on the verge of taking the lead in dealing with the cash shortage as the epidemic causes its banknotes and coins to disappear, Bloomberg News reported on Saturday.
Stefan Ingves, the governor of the Riksbank, recently suggested that some young Swedish people “have no idea” what real money already available looks like.
Ingves and others are concerned about this and say that lawmakers may have to intervene before it is too late.
The seriousness of the cash flow shortage is still unclear.
There are many advantages to moving to digital transactions, including the kind of transparency that makes money laundering and tax evasion more difficult.
However, Sweden seems to have passed the tipping point.
Without any cash flow at all, what would happen if the digital networks were to give up?