CASH HAS BEEN OBSOLETE. FOR QUITE SOME TIME.

Telegrams, postcards and banknotes

25 years ago vs. today

25 years ago, in Hungary at least, if you wanted to send an urgent message you filled in a telegraph form. If you wanted to let someone know what was going on with you, you wrote it on paper and put it in an envelope, put a stamp on it and posted it.

If you wanted to congratulate somebody in writing you wrote it on the back of a picture postcard. Nobody was wondering 25 years ago whether there should be a faster and more modern way. Today, 25 years later, it all seems so pre-historic that somebody who was born in the age of mobile phones can’t even imagine that it was possible to function properly without mobile technology before. The last piece of paper of that old era is cash.

In Sweden, even 5 years ago, the use of cash was only 3%. And it was officially announced a few days ago that cash will have been completely removed from the financial system by 2023.

In Swedish churches they use POS terminals for donations. According to the Deutsche Bank by 2026 cash is likely to disappear completely from the whole world. There’s no need to talk about it any more. There is only one important question: Are you one of those who are only drifting with the changes that are on the horizon, or are you one of those who, seeing the the direction of changes, take action and make huge profits as a result of their anticipation.

Zsolt Balló