First it was Sweden, who's people are so intoxicated by technology that it was not very difficult to get them to give up their cash to run on an entirely electronic financial system. Then in November India decided to jump on the Cashless Society bandwagon, only unlike their counterparts living in the Northern part of Europe, their citizens are the exact opposite and do not trust their government or banking system to take away physical cash from the economy.
Thus when it comes to creating a world without physical money it is on par with how half the world is content to be as sheep and follow the globalists desire to control every aspect of their spending, saving, and investing, while the other half is infused with the frequency of Populism, and realize that without the ability to control your own money in a physical form, then nearly all freedoms are permanently lost to the whims of elected and un-elected officials.
As we are now well into the first quarter of 2017, and living in the aftermath of Brexit and the election of Donald Trump, the battle is on for the establishment to hold onto the status quo, while at the same time fighting a populist movement that seeks to tear down their power base built upon a foundation of debt, credit, and privately owned central banks. And at the fore are two more major economies push strongly towards a cashless monetary system.
And those two entities are the European Union, and South Korea.
“Hand over your money.” That’s what the Financial Times newspaper called it. But it might as well be rephrased as “Stick ’em up!”
It appears that the Central Bank of Korea, South Korea’s central bank, plans to withdraw all coins by 2020, followed by removing all bank notes soon afterwards. No feedback has been requested from the public.
South Korea is determined to become a cashless society, exclusively using T-Money and other electronic payment cards. This goal may make sense to South Korea’s banks and government, but it is not without obstacles or resistance. - Numismaster