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Sweden, Norway rethink plans for cashless societies over fears that fully digital payment systems would leave them vulnerable to Russian security threats (www.theguardian.com)

submitted 1 month ago by [email protected] to c/[email protected]

156 comments fedilink hide all child comments

cross-posted from: https://feddit.org/post/4262252

A combination of good high-speed internet coverage, high digital literacy rates, large rural populations and fast-growing fintech industries had put the Nordic neighbours on a fast track to a future without cash.

[...]

But Russia’s invasion of Ukraine in 2022 and a subsequent rise in cross-border hybrid warfare and cyber-attacks blamed on pro-Russia groups have prompted a rethink.

[...]

The Swedish government has since completely overhauled its defence and preparedness strategy, joining Nato, starting a new form of national service and reactivating its psychological defence agency to combat disinformation from Russia and other adversaries. Norway has tightened controls on its previously porous border with Russia.

[...]

[Norway's] justice and public security ministry said it “recommends everyone keep some cash on hand due to the vulnerabilities of digital payment solutions to cyber-attacks”. It said the government took preparedness seriously “given the increasing global instability with war, digital threats, and climate change. As a result, they’ve ensured that the right to pay with cash is strengthened”.

[...]

(page 2) 50 comments

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[–] [email protected] 6 points 1 month ago (4 children)

GNU Taler to the rescue!

The netherlands are already looking into it: https://www.ngi.eu/ngi-projects/ngi-taler/

The project could be used via paper trail, as far as I understand it.

[–] [email protected] 4 points 1 month ago (7 children)

Taler e-money is issued with a validity period. One month before the expiration date, you wallet should automatically exchange any digital cash that is about to expire for new digital cash with an extended validity period.

Haha no, thanks. I really don't understand why Stallman stands behind dystopian statist money.

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[–] [email protected] 5 points 1 month ago

I hoped for a second they meant moneyless.

[–] [email protected] 5 points 1 month ago (3 children)

Sure, but if a cyber attack knocks out your credit card systems in a targeted attack, chances are they're taking your cash machines down as well.

And who carries enough cash around to be useful any more? I know I don't. I might have a £20 note tucked in my phone case at a push.

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[–] [email protected] 4 points 1 month ago

Funny way to say people dont like the idea of having all financial privacy ripped away from them.

[–] [email protected] 2 points 1 month ago

I'm more concerned with the threats from the people in charge of the system, but whatever gets them to the conclusion that it's a bad idea is fine with me.

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