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Demise of cash 2011

08 May 2012 1 comment

Bo Harald

Chairman/Founding member, board member

Trust Infra for Real Time Economy Prgrm & MyData,

Cash is as we know expensive, risky, unhygenic, environment-unfriendly and an open invitation to crime, fraud, black and grey economy. Cash handling costs merchants in EU 50 billion a year. Are the consumers and consumer organizations aware of them paying every cent of this largely unnecessary cost?

Great progress in Finland in 2011. One seventh disappeared from ATMs - relatively much more from branches. 34m times less from ATMs would translate to 2,4 billion times less on EU-level.

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Comments: (2)

A Finextra member

10 May 2012

Cash is not going anywhere fast - if you think that we'll be a cashless society in 20 years, I think you're very mistaken. Pretty sure that we'll still be using cash in 50 and probably 100 years from now.

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Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

Author 10 May 2012

Do you think it is a good idea not to try to minimize use of cash?

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Bo Harald

Chairman/Founding member, board member

Trust Infra for Real Time Economy Prgrm & MyData,

Member since

04 Nov 2008

Location

Helsinki Region

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