A report from The Business Insider shows that a staggering four out of every five (4/5) purchases in the country of Sweden are carried out by means of a debit card or some other form of electronic payment. In fact, the average Swede uses some form of electronic payment as much as 260 times per year, with some anticipating an entirely cash-free economy by the year 2030!
With this in mind, and with an eye towards the future of e-commerce as a whole, I am interested to know what sector of the economy would be most impacted by a sweeping shift to a totally cash-free society? There would probably be new costs associated with further security implementations, but cash-handling costs (which in and of themselves are enormous) would likely be reduced exponentially.
Assuming the technology becomes more readily available/accessible (even downtown Phoenix is now stocked with credit card operated parking meters), and assuming faith in an electronic dollar would continue to carry as much value to us as that of a paper bill, who among us would be the most resistant to change? Why?
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