Future of Money: Welcome to Cashless Sweden

The video discusses the shift towards cashless payment systems in Sweden, highlighting the role of companies like Seamless and the response of the banking industry with platforms like Swish. It explores the societal impact of reduced cash usage, noting that Sweden's cash transactions are significantly lower than the Euro area average. Despite this trend, the central bank continues to design new banknotes. The video emphasizes the innovative spirit in Sweden's digital entrepreneurship and the cooperative efforts of banks to adapt to new payment technologies.

What has contributed to the simplification of shopping for snacks in Stockholm?

• Discounts on snacks

• Increased number of stores

• Cashless payment systems

• Introduction of new snack brands

How did the old banking industry in Sweden react to the rise of cashless payments?

• By increasing cash circulation

• By ignoring the trend

• By banning cashless payments

• By developing a mobile payment platform

What is the name of the mobile payment platform developed by Swedish banks?

• Venmo

• PayPal

• Swish

• Seamless

What percentage of Sweden's domestic product was constituted by bills and coins recently?

• Almost 10%

• Less than 3%

• 5%

• 7%

Despite the decline in cash usage, what action did the central bank take?

• Stopped printing new notes

• Introduced new currency notes

• Increased interest rates

• Banned cash transactions