Thousands of Swedish Citizens Have MicroChips Implants in Their Skin, Will Cryptocurrencies Be The Perfect Tool For Cashless Society?


Technology continues to get closer and closer to our bodies, from our houses to the phones in our pockets to the smartwatches on our wrists. Now, for some people, it's getting under their skin. Sweden leads the list of nations in this experiment.

The chips are designed to speed up users' daily routines and make their lives more convenient; accessing their homes, offices, and gyms are as easy as swiping their hands against digital readers. They also can be used to store emergency contact details, social media profiles or e-tickets for events and rail journeys within Sweden.

Consumer groups say the shift leaves many retirees; a third of all Swedes are 55 or older, as well as some immigrants and people with disabilities at a disadvantage.

They cannot easily gain access to electronic means for some goods and transactions, and rely on banks and their customer service. And the progress toward a cashless society could upend the state’s centuries-old role as sovereign guarantor. If cash disappears, commercial banks would wield greater control.

Cryptocurrencies are the perfect tool to propagate this ecosystem. A researcher specializing in cryptos from Stockholm School of Economics said:

“There’s a very high level of knowledge about it here, and a high-level of digital competence in the fintech space.”

If crypto wasn’t a highly speculative and technical industry, to begin with, imagine combining it with the likes of AI. Recently, popular crypto influencer, Pomp made the same point in the tweet.

To make the next generations of humans, such as the experiment running in Sweden shows, one needs the next generation of technology which cryptos are a part of.

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