MIAMI (CBS4) – How would you like to live in a world that doesn’t use cash?
In his days with ABBA, Bjorn Ulvaeus sang about “Money, Money, Money.” Now, after his son was robbed three times, he’s pushing hard for his native Sweden to dump money and become a cashless society.
Ironically, Sweden was the first European country to introduce cash in sixteen sixty one. Now, it’s farthest along in getting rid of it. Bills and coins are only three per cent of Sweden’s economy, compared to an average of nine per cent for the rest of Europe and seven per cent for the U.S.
Some Swedish banks don’t handle cash at all, so bank robberies have plunged from 110 three years ago to only 16 last year.
Some public buses don’t take cash. You pay through your cellphone.
A growing number of businesses are going cashless, and even churches are having their prayers answered by using card readers for worhippers to contribute.
Cybercrimes have soared, but no cash would mean few muggings, no bank robberies and less graft.
Sounds like a good idea, but I’d miss all the beautiful bills and coins unique to countries around the world.