A better idea of how much im spending. But because it 19 has changed that now i pay with plastic tops almost itself. And you have to ask yourself, why do people want to abolish cash . So some banks scepter on their backs on cash completely. They dont have any brick and mortar branches or a. T. M. s. I mean, Cashless Payments are on the rocks, but experts are warning. Were paying with our data. Hes a monster monster called or axiom google facebook. Twitter interface is not surveillance. Capitalism. Cash is competing with Electronic Payment Systems. Could it get knocked out of the ring . A former head of interpol says it would be risky to abolish cash completely. What happens here . Russians switches off their system and im no different. The coronavirus pandemic has polluted Cashless Payments, whos profiting and what price are we paying off . Last for should be a life without bills and coins. What might that be like in scandinavia . Its already a reality. I decide to take the ferry, hire a car and go and find out. It seems safer to me than flying in light of the coronavirus pandemic in denmark, finland, norway, and here in sweden, in particular, cash has practically become a thing of the past. The 1st thing that i do after arriving is go in search of an a. T. M. In sweden. Thats not so easy. There are few and far between. Thank and then when i go to the newsagents to buy some water and peppermints, im told i have to pay by card so im going to meet till a german whos been living in sweden for many years and who works at the university. He cant quite remember the last time he actually held a bank note in his hand. Social distancing has become a habit for me, but my attempts dont really work here. At the moment, few people in stockholm are wearing face masks. Either. Were going to tills, favorite bakery, which has everything apart from a cash till. What shall we buy . Id recommend. Theyre good here. What are they there . Cinnamon buns made with cardamom, mccallum. I can really recommend them, feel ok. You know what . Kind of woman who gossip puts our pastries going to box and i get out my card to pay because he hasnt got a cash till look, us is surprised at my surprise. Use jesse germany. Yesteryears cash in germany, still many cash. But i want to live. Well, good for us. I guess i do trust it somehow and they not everybody house. Everyone has a card debit card, credit cards, printed in bakeries, typically cannot pay by card. Which is really, i mean for me living in are very annoying going back to germany. Ok, im now stuck and i have to go on walk around, got about 5 blocks of a good night. Give me 500 dollars on the software. Its anything you can have as much money as you like to support anything you know . Sure. Says that having no cash in the store is much safer for your little good recall of those that were considered to be if you want to see lower taxes, the problem for concern for the good robots. Im sorry that you got yourself. So you dont have through childhood without the cash, you know, egypt funds, at least when it comes to paying people keep their distance. We take our pastries and go on our way to would like to buy some strawberry at the market in germany, paying by cash would be the only option not to run from there to there. But till doesnt the swedish way he just has his mobile phone with him. So hes going to use a payments app called swish. Its a much used swedish mobile Payment System. It transfers the payment to the traders, phone number or q. R. Code. A pop up graphic of a bursting bubble confirms its arrived and then you can in doing whats the bible for us . It proves its not just a photo, but im actually sending him the money. Im impressed, but its not the quickest way to buy strawberries. It does take time. I just hope that side. Oh yes, it does. Thank god, i dont think you and the swedish banks and Payment Services have almost based out cash completely. Most banks dont provide cash anymore. Its too much trouble and paying with smart phone apps is booming, especially among young people here. Transferring money from one mobile phone to another is as easy as sending a text message or an email. Here, money has become merely digital information. This also means that swedish Electronic Payment Systems can track most peoples financial transactions. Big brother is watching you until can keep tabs on his kids spending. Behavior of course, still doesnt give his 2 children their pocket money in cash. Its all digital the system gives them a good idea of what his son miles is buying with his allowance of others can either concerts or i can see every transaction and the stores that hes visited, plus the times of purchase and the sums he spends. And do you see how much money your house, rices, i dont know how, but that he can see how much money i have to get a few kind of sense. If you have money left over as it was you was this or that was for, shall i know that i have laughed when, but when i buy something for more than 20 kroner, i think kind of get the feeling that i shouldnt be doing that. Its my society. Yes, thats quite good. I saw that you stayed under 20 most of the time in june. But you went shopping pretty regularly. I dont know if you can see that really every purchase is listed. Im still at this one that tells daughter lu only pays by card and occasionally uses a mobile app to say your dad can see what money youre transferring in what you buy a house going now what i think he can see where i shop but not what i buy with the bank cards after i cut and that doesnt bother you. We know this at the moment, but in a couple of years, i realize my cash isnt much use here in sweden. I wonder if paul even be able to spend the cronut that i withdrew. But then i come across a little tight eating place in the countryside, where the owner is kind enough to let me play with real money come from finding his suite in the shape of things to come up future in which cash is a thing of the past. And every payment for everything we buy can be traced and tracked. In germany, things are changing dramatically. Since the emergence of the coronavirus, the number of people paying by card has increased by 26 percent. Is germany following swedens lead. I want to ask a mom who had a harvard lecturer and Research Analyst at the french economist has conducted a study recently on the subject. Do we have to say goodbye to cash . What when the, just since the beginning of the year unsuspicious since chronic crisis came, gushing circulation has diffused the increase because its wants to know that the safe event stalls that you and follow if i frequented, i guess as a means of payment it has definitely decreased less honest people and i guess in december, a further of people used to because that less in germany and today, i mean, you know, he must know hes 50 press on up. You got to kiss. Many germans are abandoning cash and switching to hard payments because of the coronavirus. Other countries have gone even further. South korea to china, we decided to an event destroyed bank notes. And just one more example is the us defended this idea to crown dining bank nuts coming from is to make sure it was seen as its reasonable. Their risk is very low. But very personal view. I do everything by contact lists and to see the same. And i mess that. Im putting cash into quarantine, burning bank notes, going cash free. It all sounds a little crazy to me. Is the virus changing our behavior . Just to sense the spread of . Ive got used to paying by card. I used to always have cash on an easel. During the pandemic, its recommended we pay by card greater risk of catching cold. And if you use cash. But is that really true . In berlin, im going to meet one of germanys top money men, the executive board member of the bundesbank responsible for cash management. I want to ask your highness bama whether bills are coins, can spread kovac 19 and whether germany is likely to go cash free. And on time soon as a few months from many people are afraid that cash could carry the coronavirus and see it is risky. What do you think is there research on this . I would say thats been sufficiently disproven. If you look at the bank notes like the 5 euro or 10 euro bills here, which are in particularly heavy circulation, and they have a special coating. We know from research that bills and coins dont play any role in the spread of infection. You stopped using 500. 00 euro bills last year. Critics call them impractical. They were also linked to corruption and Money Laundering is the crux of the matter. Theres an initiative called better than cash thats calling for cash to be abolished. They say slush funds are a problem. Money laundering big sums that declared to the tax authorities or the state im stopped by most of course we have to combat Money Laundering, tax evasion, and the financing of terrorism. And i think cash has to be monitored as should other payment methods. We have to ensure that, but i dont think that this will vanquish the underground economy and question the shop and your trust as i asked them on a cash has seen its day. He says he doesnt believe that cash is about to be replaced by cards or mobile apps any time soon. Its estimated that the german state loses up to 10000000000. 00 euros in tax revenue each year as a result of cash in hand payments. One particular problem, the high cash turnover in the restaurant business. Pretty much senator complained in 29000. 00 that up to 80 percent of revenue in this sector was not declared to the tax authorities with her organic produce and great location. Ziva doesnt need to resort to low wages, cutthroat prices, and cash in hand payments. But she knows these practices arent uncommon in our trade. It goes like this. I implore you to work on a 400. 00 euro a month basis with 0 tax or insurance deductions. In theory, you should work 40 hours a month for 10, your is an hour. But in actual fact, you work 40 hours a week and get paid 400 euros a week. Cash in hand. But youre only registered as having a 400 euros jump with the author of that. So the state loses out. Yes. When i buy my french fries at a budget supermarkets, and i dont declare that either. How do you mean . Well, i buy them, but i dont submit the receipt as an expense. I throw it away. So the tax office cant estimate what you might have earned. Thats right. They dont know what amount of french fries im sending. Electronic cash tills for mandatory receipts and other types of monitoring are helping to eliminate such practices as evil, pays or employees more than the minimum wage. And its all above board and fewer and fewer of our customers are paying in cash while just a year ago. Only one in 10 payments were by card. Now its almost one in 3. She welcomes the development. But side cash as a payments were real boon for us. Theyre on tenney disadvantages. We dont have to gather up the cash and take it to the bank every evening. Thats become far too dangerous and you cant give anyone the wrong change. You know why i glad when people pay by katia, to be honest toward us whenever i pay by card, i leave a digital footprint for every beer and back of french fries that i buy. But whos interested in this information and why . And what repercussions does that have on our everyday lives as university of economics and business is the Largest University of its kind in europe. For many years, professors office she come on has been researching how our Financial Data trails are observed and analyzed. She says, credit card information and data from Electronic Payments are feeding an industry of data brokers. Could it happen on time . As we know that Credit Card Companies pass on this data in the mean time, they can observe everyone in real time via all the Digital Media that they use to create large scale profile as to how its almost become normal. To have surgery, 240000 pieces of data on each person. And with this High Resolution history, they know what you do, the routes you take, what you buy, what you pay for, where you go on vacation, how much you pay. They know it all. Human that side. How much alcohol you drink, how much alcohol you drink. You can calculate those kinds of things to you and sell that information to the highest bidder. Weve analyzed, for example, how oracle blue kind has described collecting 30000 user attributes from 200 data vendors, which would allow them to create the profiles of 700000000. Well, thats probably the entire western world and best in her bed. Think of the entire western art. And if we look to see whos providing that data visa master card, or axiom google, facebook, twitter interfaces that surveillance capitalism. Surveillance capitalism involves hundreds and thousands of companies with Data Exchange agreements working together behind the scenes. As a result, data about our payment behavior is increasingly determining our everyday lives without seeing or comprehending what is going on. We can feel the effects, not just when we are shopping, ordinary people, people who are quite similar to each other might find themselves paying different prices for flights, hotels, all kinds of things. Or they might be refused insurance or passed over for a job offer. Or they might find all those negative things happening to them and put it down to bad luck or fate. When in reality, its the result of databases making some sort of prediction about them. And people behind the scenes are earning money to create these profiles of people. Its disgraceful Payment Technologies are developing rapidly. While we feel that we are at the cutting edge here in europe, if we pay by Smartphone App in china, chinese and u. S. Companies are testing smile to pay facial recognition technology. To get into the storage. Facial scan lets you enter a store and pay for goods a i can recognize the person and their credit rating, but it can do more also detect emotions and social affiliations. It can also tell whether someone is under stress or might be coming down with something. And then missed and let him, but if i pay with a smile and i start to connect smiling to economic transactions, then this habit will also leave its imprint in my real world. I dont think we really want those kinds of associations to develop our society and social interactions would become subtly commercialized. Comments. Hes become one, would like cash to be retained and not only for Data Protection reasons, theres toltecs know how it can be rapidly knocked out. Ask mit systems, its a matter of security. We need a concrete backup. We still need cash for security reasons. One, as pain becomes increasingly easier card, tactless, and perhaps more hygenic. Were giving away more and more information about ourselves. Ill probably never know exactly what Companies Know about me. Why are banks interested in what i buy . Where and how much . Im going to visit and 26. 00 and up and coming mobile bank to find out the berlin headquartered app. Only bank is growing rapidly, but its already faced a fine for breaching Data Protection laws. As well as criticism from germanys financial regulators. Chinas tech giant 10 cent owns a big steak, n n 26. I mean in gaelic, how about general manager for germany, austria and switzerland . Because i want to ask him whether smiles of paved will be coming to us anytime soon. At the moment, i cant really see that smile to pay or other chinese products will take hold in germany. But other innovations will be introduced into the german market. Its quite clear that Cashless Payments are on the rise and in the end, 26 prefers to let other banks do things like keep reserves of cash, provide face to face customer service, and maintain brick and mortar branches. The fin tech startup is a digital bank. The company would like us to use our mobile phones to manage our finances. And once you can see it right off, how much did you spend on clothes shopping . How much did you spend on insurance this month or on eating out was hard. What were your Household Expenses . Do customers feel that their spending behavior is influenced by this . Thats a he was asking, i meant to get. When you pay electronically, you can monitor more closely what youve spent. Then when you pay by cash, its hard to say a month after youve spent 50. 00 euros in a shop and you no longer know what you spent that money on. If you, if you make an electronic payment, you know exactly what you bought last april. Thats nasty Data Protection is important to the e. U. To us a bank shares that concern that we give the customers this data. If you its an automated process. That means that none of our employees see this data. It can only be accessed by our customers engaged. You being able to manage your finances better does sound like an advantage, but doesnt really matter to me what i spent, where last april and im still worried about what happens to my data and who has access to it. A Berlin Company called bought solid d. Is taking a different approach. It offers a modern Payment System that doesnt leave behind data trails. The name might mean paid by cash, but its not as old school as it sounds. Rather, its a kind of digital analog hybrid, not everyone who wants to pay by cash is tech averse. To get this all kind of theres a big group of people who want to use cash in a digital context because they dont want to reveal their personal data online. Cash has many advantages. Its flexible and anonymous. I dont need to own a car. I dont need to be a customer somewhere in the management of say me a World Without any path. That would mean that europe and germany would be dependent on 2 big u. S. Credit Card Companies that control all our payment transactions. Do i really want that . So how does parts and you work, for example, it works by a certain stores, but it doesnt matter if i want to pay for an online purchase, or if i want to pay an official bill or receive money for example. Or if i want to pay money into my bank account or get money out of my account, it of i always receive an encrypted barcode that i use to get money or make a payment. The bar code stipulates how much money is paid in or paid out. It doesnt involve the transfer of any account or credit card data. And a fresh bar code is generated for each transaction. Is up awkward, but you just stand this barcode on the cash. And then the shop assistant will give you 50 euros, for example. In this case, its a withdrawal from my checking account. But it could be a reimbursement for a returns pair of shoes that i bought online, or a credit for my electricity bill. And i could also use it to make a payment to pay for a parking ticket. For example, you cant tell from the bar code what transaction ive made. The information isnt passed on to 3rd party. And the cash is a way of stopping everyone from knowing all our business even in cash presweetened. There are a few people who want to keep bills and coins beyond. Erics son opposes going completely cash free seems. The former interpol president is acquainted with the underground economy Cyber Attacks and Money Laundering. And hes still battling for the retention of cash. Im for cash as an option, not as a monopoly, which is a major difference. They want to have a monopoly. I want to have a possibility, some people can dean with these modern didnt do a lot system. Its about 1000000 people in my county, and they are looked as profitable. Just leave them. I dont like that up a society. What happens if russians to, in a sombrero, off the system, we have a new defense. How do you defend yourself if you just have this cards that doesnt function cache support . If an option and the 3rd one which attracts a lot of young people is what they see in china and some of the nations where you use these 2. True us citizen. Because if your have a system with cog, you have a technology of cameras, you have a technology with artificial intelligence, you are really going to be checked. Young people dont like that. Erickson also believes that its important for digital needed to have access to cash. And hes annoyed by the fact that it seems the coronavirus is being used as a pretext for the switch to a cashless society. But there is no proof whatsoever that cash is carrying that type of threat. Its people saying we cash because we cause its big. But these type of arguments for me, its not particularly impressive. Erickson tells me that sweden has passed legislation obliging banks to provide certain Cash Services from 2021 to struggle between cash or card payments has become fiercer due to code it. Electronic payments are easy, quick, and feel safe for banks and Payment Service providers, lucrative. The data broker industry is in turn, making huge revenues and penetrating our lives in ways we rarely suspect. For me, cash represents a form of freedom. Its a freedom. Id like to pass on to my children for their digital future. Now this is traditional. It is harder. Now, women can write on this was a clear sign of womens liberation. Moroccos women didnt sustain it. W. Long. What secrets lie behind . Discover new adventures in 360 degree and explore. Fascinating World Heritage sites w World Heritage 368 get kidnapped. Now this is day 8 of the news line from bernie and the transition to a Biden Administration fully begins in the u. S. A federal government agrees to begin the handover process with bidens detained after weeks of stalling by the Trump White House under the allegations as large a full. Also on the program, chinas on manned spacecraft rockets to the moon