Cashless Economy

By: James Stevens Click to edit Master subtitle style

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Swedens Success
Sweden is attempting to move to a cashless

economy. is cash.

Currently only three percent of their economy Since Sweden started going to this cashless

economy, their crime has gone down including number of bank robberies which was 110 in 2008 and went down to 16 in 2011.

Of course, its not just the bank robberies that

are decreasing, the amount of citizens being 4/15/12 robbed for their cash has also gone down

Some problems of a cashless economy

The number of online frauds/scandals would

increase since more online transactions would be made. which can have benefits, but it can also be very harmful. acceptability.

Each transaction made online can be tracked,

The biggest problem is the lack of

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Solutions
For the problem of the increase in internet

frauds, the online security would need to somehow be increased. anonymous and untracked.

Each transaction would need to be left Everyone would need to learn to accept this

new type of economy just like they accept any other kind of new technology.

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Benefits
The $60 billion to handle cash and coin would

be eliminated if the cash was gone.

Eventually America would be able to stop

printing cash and minting coins, saving money and trees.

Counterfeiting and counting errors would be

avoided.
Decrease in crime statistics.

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Not a lot of change

There is so many benefits of the cashless

economy, but the only problem that really can not be fixed is everyone's comfort with using cash and not wanting to make a transition to a world without it. not be a hard transition, Americas economy is already only made up of seven percent cash so its not like we havent learned to use the credit card and other forms of payment.

The thing that needs to be realized is it would

Besides a few jobs(such as bank telling), no 4/15/12

Conclusion
This change is really inevitable just as it is

inevitable that new technology will be invented in the future.

People need to be slowly introduced to the

idea and allowed the time needed to become comfortable with it. over tomorrow, but we will see it when everyone starts to realize the world is too advanced for it.

We may not see this cashless economy take

4/15/12 But, it could be said this form of economy is