Hello from Africa



Some time ago I had friends visiting from Sweden. They told me that Sweden has low adoption rate of bitcoin compared to many other western countries such as Germany, Canada etc. Is this true and if so, what is the reason?



I can think of a couple of possible reasons:

  1. Swedes tradtionally have very high trust in government and authorities. There is also not a lot of corruption. This means that most people are completely fine with the government and the banks being in control of our money and don’t see the need for a decentralized alternative.
  2. There is a very convenient way of sending money to your friends through an app called Swish, that works regardless of what bank your friend uses. This means that “digital cash” doesn’t really sound that impressive. People feel that money transfers already works very well.

So, people in Sweden that are interested in privacy issues or are skeptical towards authorities are probably interested in bitcoin, but not a lot of “regular” people right now.


Can Swish also send money to other countries?


No, it’s only within Sweden. Well, only between Swedish bank accounts actually, you can use it abroad if you have a Swedish bank account.


Sounds like a great deal for the banks. People think they are using cash, while in reality the banks save money on not having to deal with paper money and are also able to lend it out and make more money on it.


Yes, it sure is.

Everyone is happy that cash disappears: banks, merchants and consumers. The only problem is that consumers don’t understand the downsides of it, that they are the ones paying (with their privacy and by always lending their money to the banks for free).