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Harry Sintonen
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Infosec consultant at REVƎЯSEC https://reversec.com - Coding, Research + various other interests
@v_d_richards Going full monoculture would be dangerous, indeed. However, there will always be cash around, but not as much in circulation as before.
As to government control over people or tracking/monitoring payments: I'd hate to live in a society where I'd have to worry about this in my threat model. Luckily this seems rather unlikely in the nordic countries at least.
Corporate tracking can be dealt with careful planning and setup. While I originally didn't do this to avoid tracking it sure is nice to self-host as much as possible: https://infosec.exchange/@harrysintonen/115916299816297773
@v_d_richards Nah you'd be fine. You can use cash, at worst you might get (silent) sighs from people in a queue behind you. 🙂
@latvijasbanka.lv Oh nice! Likely it takes some time to adjust the policies. Technically there's no real challenge I believe.
@wikiyu Please no, those things should stay dead... They were killed for a good reason (fraud).
@leeloo If "spending money you don't have" is a concern there's a rather easy mitigation: pay with cash only when the network is down.
@v_d_richards Fair point. Physical money has inherent costs though: minting the coins and printing the bills consumes limited natural resources. The coins and bill have a limited lifetime, too. Thus I think it was a good idea to move away from physical money.
Nordics have largely moved away from physical money. I still have a 50€ bill in a nook of my wallet for emergencies - I think it's nearly ten years old now.
@christopherkunz A solution that mitigates this risk would be preferable, indeed. As reported in https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr250228_1~7f0697af45.en.html in 2022 only 37% of payments used national systems. Even those likely have many dependencies to systems outside of EU.
Most EU countries rely on international card schemes for card payments, ECB report shows
The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.
@leeloo See https://www.riksbank.se/en-gb/payments--cash/payment-preparedness/offline-payments/ for rough explanation.
@briankrebs The fraud is limited by the fact that this system can only be exploited when the network connection is down. There also is limits for the amounts you can "credit", I believe, and the system is limited to cards issued in that particular country.
Yes, there is possibility for fraud, but these mitigating factors should limit it.