Benchmark
Scandinavia's Disappearing Cash Act
A post-cash society requires trust and an efficient state
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By the end of this month, Scandinavia's last mint will have closed.
Following in the footsteps of Sweden and Norway, Denmark has decided to outsource the production of its coins to Finland. The Danish central bank has already stopped printing banknotes. They've become so unfashionable that there's no rush to find a subcontractor for those.
From the European Central Bank to Venezuela to India, authorities are falling out of love with cash, particularly the kind of high-denomination banknotes favored by mobsters and drug dealers.
As the above chart shows, Scandinavia is way ahead of the game. The region is frequently cited as a trailblazer in the global transition to a post-cash society.