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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 2 months ago by [email protected] to c/[email protected]

149 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”.

[...]

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[–] [email protected] 6 points 2 months ago (11 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 2 months 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.

[–] [email protected] 1 points 2 months ago (6 children)

I think the idea was that you can't hoard anything, and stealing or reusing is harder. But it does make the central management way more powerful than it should be. But it's normal bank standard.

What do you mean with "dystopian statist money"?

[–] explodicle 2 points 2 months ago (1 children)

If he doesn't like hoarding, why doesn't it just inflate?

[–] [email protected] 2 points 2 months ago

I think the reason for this implementation is more the theft prevention. This sounds very mich like certificates to me

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