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“If You Can’t Beat Them, Join Them”

By | Oct 30, 2018

“If You Can’t Beat Them, Join Them”

Taking a page from the “If you can’t beat them, join them” school, the Swedish government is offering its very own digital asset: the “e-krona”.

From NewsBTC: “As the country moves rapidly towards a cashless future, there are concerns citizens will turn to means of payments provided by “private agents” without “state-guaranteed” digital cash.”

The Riksbank document states:

“If the marginalization of cash continues a digital krona, an e‐krona, could ensure that the general public still has access to a state-guaranteed means of payment.”

It went on to state that not creating such a digital representation of their existing fiat currency would risk the public searching for “means of payment” services provided by “private agents”. Like BTC?

Hello, people. As Anthony “Pomp” Pompliano likes to say: “The virus is spreading.”

Let’s keep score about what the future holds for all of us: Blockchain? Check. Digital assets? Check. More tirades from Nouriel Roubini and other curmudgeons? Check, mate.

It’s really not a question as to when we all live in a cashless society – only a matter of when. Look at China: cash is an anachronism on the streets of Beijing, according to locals, as even the homeless accept donations electronically.

We’ve crossed the Rubicon – there’s no going back.

2018-11-01T18:10:53+00:00 October 30th, 2018|

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