Sweden is Eliminating Cash

Credit Suisse:

In 1661 the Swedish central bank was the first in Europe to issue paper money. Now it is the first to eliminate it. What may sound rather risky to the skeptical Swiss is no big deal in Sweden. Four out of five purchases here are made electronically. Plastic dominates, particularly in the retail sector, where 95 percent of all sales are handled with cards. The last area in which a Scandinavian still needs cash is the purchase of illegal items such as drugs. In general, the rule of thumb in Scandinavia is: “If you have to pay in cash, something is wrong.”

I wonder how much longer cash will continue to be in use worldwide?

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