The post Sweden Needs Offline e-Cash Amid Russia-Ukraine War appeared on BitcoinEthereumNews.com.

The Ukraine-Russia War has shaken up the world in many ways. For the Nordic countries, two of which share borders with Russia (Finland and Norway), a military invasion is no longer unthinkable. For Sweden, it may also be prompting second thoughts about its “cashless society.” According to a recent report in The Guardian, Sweden is worried about hybrid warfare attacks from Russia, including cyberwarfare. This can take down critical infrastructure like power grids on which digital payment networks depend. The Swedish government has even advised its citizens to put aside some “cash” — just in case. “Nordics are walking back the cashless society initiative because their centralized implementation of the concept is too fragile. Cash turns out necessary as a backup,” Ethereum co-founder Vitalik Buterin posted on May 25, referencing The Guardian story. Source: Vitalik Buterin The payments market in Sweden is almost entirely digital. Debit and credit cards are the most common forms of payment, and mobile-based payment apps like Swish are also widespread.  But digital payment networks like Sweden’s depend on internet access, which in turn requires electricity, and that infrastructure can be vulnerable to natural disasters as well as terrorist acts and foreign military interventions. One response to this vulnerability would be to develop an offline version of electronic cash — so economic life can continue even if the internet goes down or the nation’s electric grid is damaged. Such a capability would also make Sweden’s society more inclusive, others note, because not everyone today has a bank card or a smartphone. Related: Trump’s consumer protection reforms could leave crypto users in a lurch But this raises other questions. Is offline electronic cash technically feasible? Is the necessary hardware at hand? If so, how long before a solution can be implemented at scale?  Also, is there a…

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Filed under: News - @ June 17, 2025 2:26 am