Norway, Sweden and Denmark Say “No” To Cash
Norway’s largest bank DNB proposes to stop using cash as a means of payment in the country. According to the DNB bank’s executive Trond Bentestuen, more that half of all cash transfers in the country are made without the banks’ control, and so could be used for illegal purposes. He commented to local news media outlet VG.no: “Today, there is approximately 50 billion kroner in circulation and [the country’s central bank] Norges Bank can only account for 40 percent of its use. That means that 60 percent of money usage is outside of any control. We believe that is due to under-the-table money....
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It turns out that there is more to Sweden than fjords, Volvo and smorgasbord. By 2030, Sweden could become the first country in the world to become a truly cashless society. Today, 80% of all transactions in Sweden are done electronically, or by debit card. Also read "Sweden and Norway to Bitcoin VAT - Norway to Implement Bitcoin Tax". Bengt Nilervall at the Swedish Federation of Trade, or Svensk Handel says that Sweden and the rest of Scandinavia lead the world in terms of cashless trading. Swedes on average perform an average of 260 transactions each year using their debit and credit....
This week sees perhaps Scandinavia's biggest bitcoin event yet. The Stockholm School of Economics (SSE) will host a conference discussing the future of the cryptocurrency, and 250 people have reportedly signed up. Just how healthy is the Scandinavian bitcoin community? The Scandinavian region (encompassing Sweden, Denmark and Norway) is seeing its fair share of action, both from regulators and from startups. Michael Grønager, COO of Payward (which is the company behind Kraken), is located in Denmark, which also plays host to bitcoin payment processing firm BIPS. That country has its own....
As Denmark and Sweden spearhead the move to a cashless society, the ramifications of such a transition for humanity as a whole could result in the exclusion of certain groups and classes. A cashless society is one where people do not use physical cash; all purchases are made by credit cards, charge cards, checks or direct transfer from one account to....
Bitcoin miners are finding the Nordic lands a profitable opportunity to boost their revenues due to a plunge in electricity prices at the cheapest levels than any other well-known places for crypto mining. Bitcoin Miners Could Find ‘Lucrative’ Opportunities in Norway and Sweden According to a Bloomberg report, the Nordic region, specifically Norway and Sweden, has seen mild weather in the last 20 years, which helped boost production from hydroelectric plants. As the long-lasting weather trend has been alive in the region for several years, it’s helping in some way to....
A start-up by the name Neo EasyCoin (located online at easyco.in) is hoping to make bitcoin and litecoin purchasable using nothing buy cash when it launches on December 31st, the last day of the year. EasyCoin launches with initial support for customers in the United Kingdom, United States of America, Russia, Denmark, Sweden, and Norway - and the announcement post on Bitcointalk says there's more to follow. Users can create their EasyCoin account in "less than three minutes" and top-up (also known as funding) their account at ZipZap payment locations (you can look up payment locations here....