Financial Group: Norway Could Become Cashless By 2020

Financial Group: Norway Could Become Cashless By 2020

A leading financial association in Norway recently suggested that the country could very well be on track to becoming cashless by the year 2020. The group noted that only about five percent of transactions conducted in the country are done so with cash, and suggests that eliminating paper money would likely pose no harmful effects to the economy. "Cash now represents such a small proportion of payments in the society, that we could well do without it," a statement read on the Finans Norge website earlier this week. The organization represents 200 financial institutions that are currently....

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There was plenty of ugliness to be found in the markets this year. Ukranian and Venezuelan sovereign debt. High-yield, energy-related corporate bonds. Argentine pesos. Russian rubles. Greek stocks. But none of these investments has been as atrociously awful as Bitcoin, the heavily hyped crypto-currency that stormed onto the financial scene in the last few years, threatening to disrupt the cornerstone of global finance that is fiat currency.

Matt Phillips, Writer for Quartz, former writer in Wall Street Journal