Sweden, grappling with security concerns amid the Ukraine-Russia War, is reconsidering its largely cashless economy due to vulnerabilities in digital payment infrastructures reliant on electricity and internet access. The government has urged citizens to keep cash on hand for emergencies, reflecting a growing public sentiment about the fragility of digital systems. Experts suggest the need for an offline electronic cash option to ensure economic resilience during crises. Initiatives for offline digital cash are underway globally, with the Bank of England and European Central Bank actively exploring options. Challenges persist, primarily the technical double-spend issue inherent in digital cash systems. Potential advancements, such as leveraging blockchain technology for offline transactions, are in discussion, though practical solutions are expected to be three to five years away. As Sweden acknowledges the limitations of a purely digital framework, the societal implications of cash disappearance are also significant, particularly for socioeconomically vulnerable individuals who rely on cash transactions.

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