Will it come? Will cash be abolished in the near future? The discussion repeatedly puts the head on. Abolish that expensive, awkward cash. Completely unnecessary in the current technology era. Yet?

Assuming: governments can not wait until it's so far, a cashless society. Sweden is currently the worst, wrote the FD recently. This also applies to central banks and ordinary banks.

The benefits are obvious to these two. The government has a perfect view of every penny spent, the banks are off the relatively expensive cash: no cash machines, money counting, etc. But what about the ordinary citizen?

Ram cracks and crypto coins

For business it is also nice: the payment is almost real time inside. Central banks get more grip on the economy. The technology has now been as far as it can: Electronic payment is possible in many ways. With a debit card or credit card or smartphone: Super efficient and fast.

In addition, raids and armed robbery are no longer useful, but cybercrime still pays off. The black money circuit also makes it harder, even though it is an illusion to think that crime will be effectively combated. This profession will undoubtedly take alternatives as gold and crypto coins.

It sounds almost too beautiful to be true: all benefits, convenience serves man.

But now the disadvantages ...

Countries like Sweden, where cash accounts for only 1.5% of payment traffic, and Norway striving to cash off, is the worst. But now the disadvantages, because they are also: something that proponents often look easy over.

First of all, the technology: There must be no power outage, you must have your smartphone with you and the payment traffic must work. Reason for the Bank to plead for a system where cash payments should in principle be possible .

More importantly, you lose any kind of privacy when cash is abolished. The government, banks, technology companies know exactly what you spend.

Now the average (brave) citizen has nothing to hide, but that does not matter. Nevertheless, you are entitled to privacy, and the possibility for that.

Do not underestimate it

One more disadvantage: you can just get a conflict with the government. The same government can then with a push of the button ensure that you can not afford more money. That sounds unpleasant and that's of course also.

Still something to be aware of. And it does not matter if there are disadvantages. Banks slowly massage the public to get used to negative interest rates. Interest paid on your savings, you yourself. In fact, no interest is received and some costs charged on the savings account will be effective in the same way.

And then it will be difficult to keep the savings under the mattress once cash has been abolished.

Get you 5X for your upvotes on Steemit....Join the Awesome Reward System for steemit to help you get more Upvotes and Followers - click here