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E-bok Building a Cashless Society : The Swedish Route to the Future of Cash Payments

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Penilaian

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Money is a central part of everybody’s life and every society and has been moreimportant for humanity than the wheel, the printing press, the steam engine, and theInternet. Money is one of the greatest innovations in our history! I therefore decidedto write this book about money.Not only is money one of the greatest innovations, it is also currently beingradically transformed in a way that has not happened in centuries. The last radical oreven paradigmatic transformation of money came in the seventeenth century whenthe Riksbank of Sweden and Bank of England introduced thefirst money providedby central banks. Yes, we had had money—in the form of shells, stones, rings, coins,bills, or other forms—provided and backed by kings, emperors, and other head ofstates a long time before this. But this is when money became what it is today, i.e., aguarantee of value provided by a central bank, backed by a state, and issued in theform of bills and coins. What we simply call cash. No matter if we use US dollars,euros, Chinese RMBs, Russian rubles, or Swedish crowns, the basic form wasintroduced in the seventeenth century and is still an important part of many societies.We now see, however, that the concept we call cash is challenged! We areactually discussing whether we may see entire economies without cash. The ideaof cashless societies is not new, but it has not really been realistic until today asdigitalization is reshaping fundamental dimensions of our societies, where money isone of them. And why should not money be transformed? Most things come to anend, and it is likely this may happen to cash as well.This book explores how a cashless society is developed and look like by studyingSweden. I know that Sweden is not like other countries and that all the insights fromunderstanding Sweden cannot be exported to other countries. This is not my aim. Iaim to explain what made Sweden becoming a cashless society, to provide adiscussion of challenges and opportunities that lies ahead, and to ignite much needed discussions of how less cash—or even no cash—will transform our economies.Because this is a societal challenge we must learn to master.This is a book about the abdication of the king formerly known asCash. Theprojected abdication ofCashin Sweden is expected to happen in 2023 AD.I hope you will enjoy reading this book and that it evokes new thoughts andengaged debates about the future of cash. Money in some form has probably been at the center of trade and business since thebirth of humanity. Unless favors are based entirely on charity or an eternal promiseto make good in return, some sort of payment system is needed to stimulate trade andthereby enable specialization and prosperity. Even an economic system entirelybased on nonpecuniary trade needs agreements on terms of trade, for instance,how to make a fair trade between rice and milk, which in essence lays the foundationfor one important feature of money, i.e., unit of account. If 1 kilo rice can beexchanged for, let’s say, 2 liters of milk, the system has set a value on both productsand this value can then be accounted for via a monetary system. And such monetarysystems have proven to be important for development throughout the history ofhumanity. I will argue that they are a critical part of the human history and development.

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Ketersediaan

Informasi Detail

Judul Seri

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No. Panggil

339 ARV b

Penerbit

Switzerland : Springer Nature., 2019

Deskripsi Fisik

98 hlm

Bahasa

English

ISBN/ISSN

9783030106898

Klasifikasi

339

Tipe Isi

text

Tipe Media

computer

Tipe Pembawa

online resource

Edisi

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Subjek

Macroeconomics and Related Topics

Info Detail Spesifik

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Pernyataan Tanggungjawab

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Versi lain/terkait

Lampiran Berkas

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