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Ripple’s Price Spiked in September – What’s Next?

The price of Ripple spiked in mid-September after CNBC reported that the company was moving closer to launching its xRapid product. xRapid, which uses the XRP cryptocurrency as a “bridge” against currencies, allowing payment providers and banks to process cross-border transactions faster and more efficiently.

“A couple of years ago, the narrative was ‘blockchain good, crypto bad,’ but I think what we’re now seeing is that more regulators and policymakers [think of] the whole space in one conjunction…you can not have runways without the airplanes,” Sagar Sabhai, head of regulatory regulations of APAC and the Middle East at Ripple, told CNBC.

Ripple, which has the core mission to “provide one frictionless experience to send money globally using the power of the blockchain,” has faced some criticism from the crypto community at large regarding its centralization, but this doesn’t seem to phase the core team. “Ripple has always been a payments company first, and blockchain has always been in our DNA, but we have never been dogmatic about what we acknowledge to apply…there’s a little bit of blockchain in all of our different products,” said the current CTO of Ripple, Stefan Thomas.

Criticism aside, both XRP and the Ripple platform at large have experienced amazing momentum this year, announcing partnerships with big name financial institutions such as MoneyGram, Santander Group, and American Express. What else is up ahead for this innovative currency and payment settlements platform? Let’s take a look.

Ripple for Good

Ripple’s commitment to streamlining financial transactions extends beyond the corporate sector. Indeed, in addition to the xRapid launch, the company has also recently launched  “Ripple For Good,” dedicated to educate and empower individuals who traditionally have been financially excluded from society. The company has committed $100 million to the program. Ripple For Good will work atop the framework built by RippleWorks, another organization founded by the company dedicated to helping small entrepreneurs scale up rapidly.

“If we are truly committed to transformative global change, we will work to help ensure that innovations in banking and global payments are available everywhere to everyone, among unbanked and underbanked populations and in economies and economic sectors that serve the greater good,” said Head of Social Impact for Ripple, Ken Weber.


The Future of Ripple

October 1st and 2nd, Ripple hosts their SWELL conference in San Francisco. SWELL is meant to connect the world’s leading experts on policy, payments and technology for “the most provocative dialogue in global payments today.” Located in downtown San Francisco, the keynote speaker for the event is President Bill Clinton.

The first day’s agenda deals with the adoption of blockchain technology across traditional banking systems, while the second day tackles the future of e-commerce.

Both a digital currency and a payments platform that has inspired many mainstream partnerships, philanthropy projects, and tremendous enthusiasm from finance markets and leaders in Japan and South Korea, as well as the rest of the world, it seems very likely that momentum will build and prices will continue to rise.


Retirement Today and the Potential of Alternative Assets

When it comes to saving for retirement, most Americans are concerned that they haven’t saved enough.

According to a study from Northwestern Mutual, they have good reason to be: 78 percent of Americans say that they’re “somewhat” or “extremely” concerned about not having enough money put away for retirement. Just 10 percent of Americans have only a few thousand dollars or less saved for retirement, and more than one American in five, a whopping 21 percent, report having nothing saved for retirement at all.

Some Americans, of course, are in better positions, and a quarter report having more than $200,000 in savings, but the trend isn’t positive: a survey by Bankrate finds that 13 percent have saved less this year than last year, mostly due to falling incomes.

Survey: What’s the main reason you haven’t increased your retirement contributions compared with last year?

The Roadblocks to Saving

That survey seems to reflect what many economists already know: incomes aren’t rising alongside the cost of consumer goods and household expenses. Bankrate reports that their findings are “consistent with federal data that show real wages have barely budged in decades.” Worse still, the Pew Research Center recently reported that average weekly take home pay goes only as far in terms of purchasing power as average pay forty years ago after adjusting for inflation.

“Stagnant income and rising household expenses mean there is little financial wiggle room for many Americans,” says Greg McBride, CFA, chief financial analyst with

How Alternative Assets Come Into Play

While there is no one definitive solution to solving this lack of “financial wiggle room,” alternative assets  are becoming increasingly appealing to those looking for other ways to grow their money. And although they can be seen as high risk, they also have the potential to yield profitable rewards.

“Proponents of these non-traditional investments maintain the average investor will now have access to assets not correlated to the stock market,” says Investopedia, “offering diversification and potentially higher returns when compared to mutual funds, stocks and bonds.”

In addition, investing in alternative assets can also be viewed as an effective way of managing risk within a portfolio. By incorporating them alongside equity, fixed income and real assets, alternative investments act as a fourth asset group and can help to smooth the volatility of a portfolio and unlock return streams different and distinct from the other asset groups,” says Adam Taback, head of global alternative investments at the Wells Fargo Investment Institute.

Bitcoin as an Alternative Asset

According to Investopedia, there are two essential factors for portfolio diversification done right. The first is investing in several securities for each asset, and the second is investing in assets that are not significantly correlated to one another, in order to minimize the impact of any negative conditions that could inversely impact your portfolio. Interestingly enough, according to research from ArkInvest and Coinbase, Bitcoin is the only asset class that maintains consistently low correlations with every other asset, distinguishing itself along with real estate, fine art, and wine as an alternative asset to look out for.


[Infographic] Blockchain Technology is Soaring Over Time

Recently, Medium posted an article with an incredible infographic that demonstrates the incredible progress that blockchain technology has made in disrupting traditional working processes as we know them.


Here are a few of the industries that have the potential to reap huge benefits from the blockchain.

Video & GameDev

Blockchain technology could democratize game development and provide a decentralized network for multiplayer functionality hosting. This could potentially save game studios a lot of money, as multiplayer mode is traditionally quite expensive, since it requires that developers support a high volume of players from around the world.


Blockchain technology has the potential to bring more transparency and security to a sector that has been fraught with hackers. Additionally, the system’s encryption would be better equipped to detect empty bot clicks and other factors that could damage an advertising campaign.


Digital arts can be easily duplicated or stolen, but blockchain technology may be able to solve this problem by creating a limited number of copies and binding them to unique blocks to prove ownership.

Ultimately, these are only just a few of many industries that stand to tremendously benefit from the power of blockchain technology, and this Medium series is doing a remarkable job of chronicling all of the strides in the development of decentralized technology as it works to transform life, and business, as we know it.

The New Social Media: How Blockchain is Changing the Social Space

Blockchain technology may have initially been a tool for the finance sector, but other industries have been putting the technology to good use as well. The real estate market uses blockchain to make large and confusing transactions more transparent, and the healthcare industry employs it to share data across disparate networks without sacrificing patient confidentiality. Now, some visionaries are starting to see the potential of the technology when it comes to revolutionizing social media.

Given that the blockchain enforces transparency and heightened security, two qualities that have been lacking in social media, it makes sense that people would gravitate towards the technology in the social space. Let’s learn more about recent updates since the nature of blockchain as a ledger that is incorruptible, enforces transparency, and bypasses censorship is perfectly suited for an audience hungry for the credibility and accountability missing from social media in today’s fake news climate, as well as a desire to own their own data, or, at the very least, keep the big name players from owning it.

Facebook and Twitter Express Interest in Decentralized Technology

Facebook CEO Mark Zuckerberg made clear in his January 2018 “state of the union” post that Facebook would begin to explore blockchain technology. Citing the first four words of the Facebook motto, “give power to the people.” Zuckerberg explained that the plan to explore blockchain stemmed from being “interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.”

Meanwhile, Twitter CEO Jack Dorsey has repeatedly advocated for both crypto and blockchain technology. Earlier this year, he predicted that Bitcoin would become the single currency of the internet in the near future, and separately testified before a Congressional committee and said that distributed ledgers could be used to stop scams and misinformation. “We haven’t gone as deep as we’d like just yet in understanding how we may apply this technology to the problems we’re facing at Twitter, but we do have people within the company thinking about it today,” Dorsey said.

The New Social Space

While the giants slowly turn their attention to blockchain technology applications in their platforms, smaller startups blaze ahead. Innovative founders and users alike are discovering the ways in which transparent and decentralized social media are disrupting the idea of what social networking can be – and who stands to profit.

Here are just a few examples of sites making use of blockchain technology to connect users and information.


On the surface, Sapien Network sounds like a traditional social media platform: the site specializes in sharing news and other items much in the same way that Facebook and Google does, though CEO Ankit Bhatia stated at a 2017 conference that they want to reinvent social from the ground up.

Their mission, according to a recent Medium post, is “to champion users and truth, not financial gain, as the core of its social network.”

Since Blockchain tech is democratic and transparent, the post says, it allows Sapiens to reward “millions of content creators and curators without any centralized intermediaries.”

Built on the Ethereum blockchain, the platform rewards users who create quality content with SPN tokens, which can be used in the marketplace.  It also allows user to both retain control of their own data as well as monetize their own posts, unlike the large platforms we’re familiar with today.


With 700,000 users and counting, Sola also operates on the concept of tokens. Governed by a combination of users and AI, Sola, according to the website, “spreads information like a viral disease to the most interested users, applying AI algorithms combined with users reactions. Quality content can easily reach the whole Sola user base. Users post news, stories and entertainment cards, Sola takes care of the rest.”

What Sola does is convert social engagement, like comments, likes, and shares, into tokens called SOL that can be used both internally and externally to the Sola platform, allowing users at any level of fame to profit from creating quality content.


On social platforms like LinkedIn, any user can make a claim about their own skill set or the skills of others. On Indorse, the currency here is social currency, and the site uses AI, among other tools, to make sure you’ve got the goods.

Users on Indorse are verified and rewarded for verifiably “indorsing” the skills of others. According to David Moskowitz, co-founder and CEO at Indorse, “If someone is an expert in NodeJS, they put up a claim and attach proof such as their GitHub repos. Other members in the same domain on Indorse verify it. Based on the consensus, the claim is either ‘indorsed’ or flagged.” Once again, the currency here is a token, this time called IND, which can be used on the site to purchase advertising and other services.

Blockchain social media is still in its infancy. However, as the demand for accountability from social media giants grows, alongside the desire to keep personal data out of the hands of unnecessary middlemen, the window of opportunity for transparent, blockchain-based social media widens. It remains to be seen whether or not any of these new social spaces will be able to connect as broadly among users as the established giants – and, if so, whether or not they’ll be able to avoid the same pitfalls.


Bitcoin to Exceed $10K by Early November, Say Experts

After a summer of fluctuating prices, there’s reason to feel optimistic about Bitcoin’s trajectory.  “I believe that [the bitcoin price] will hit $10,000 by the first week of November…[There’s] Less than a 1% chance in my mind that bitcoin won’t succeed,” Hermann Finnbjörnsson, founder and chief executive of Bitcoin and cryptocurrency advisory firm Svandis, recently said.

Let’s take a closer look at why experts are feeling positive about Bitcoin’s trajectory as we go into the late fall.

Pending SEC Approval of Bitcoin ETF

The SEC is expected to give the go ahead to a Bitcoin ETF, enabling customers to invest in a fund that buys crypto, rather than in crypto itself. With the passage of a Bitcoin ETF, customers would be able to bypass cumbersome exchanges, and in doing so, diversify their portfolios while minimizing risk. While the SEC has recently rejected many Bitcoin ETF applications, there are high hopes that one will pass in the near future, especially considering that the SEC already said that Bitcoin and Ether are not securities and proposed easing its rules for low-risk ETFs.

Two different ETFs, in particular, are generating excitement.  The first is COBE’s VanEck SolidX Bitcoin ETF. CBOE’s application has already set itself apart from other Bitcoin ETF applications, as it proposes a secure means of custodianship, as well as a comprehensive insurance policy. While the SEC is not scheduled to release a decision until the end of September, a CBOE VanEck Bitcoin ETF insider said there is a “approval expectation of 99%.”

The second ETF currently gathering buzz is from the International Continental Exchange (ICE), the New York Stock Exchange (NYSE) parent company. The ICE plans to launch a bitcoin ETF by November 5, which will be launched under Bakkt, a cryptocurrency platform backed by ICE as well as other heavy hitters such as Microsoft, Starbucks, and Boston Consulting Group.

The Significance of a Bitcoin ETF

The launch of one or multiple Bitcoin ETFs has the potential to yield a groundbreaking impact on the crypto space. Earlier this year, JPMorgan called the prospect of Bitcoin ETFs a “holy grail” for investors. A platform such as Bakkt, which aims to “clear the way for major money managers to offer Bitcoin mutual funds, pension funds, and ETFs, as highly regulated, mainstream investments,” has the potential to drive major institutional money to crypto and draw in a wide range of prospective investors who have previously stayed away.

“We’re one positive regulatory decision away, maybe an ETF approved by the SEC, to climbing through  $20,000 and even to $50,000 by the end of the year,” Arthur Hayes, CEO and co-founder of the BitMEX cryptocurrency exchange recently said.

“The main reason behind Bitcoin’s amazing rally in 2017 was a surge in institutional interest, and it’s conceivable that a Bitcoin ETF, and it’s conceivable that a Bitcoin ETF hitting the market could create a similar surge in demand,” Matthew Frankel writes for The Motley Fool.

With the SEC announcement just weeks away, now is the time to wait and see what exciting developments unfold.

Bitcoin Price Analysis: End of the Sideway Movement and Bitcoin All Set for the Next Big Launch

Anyone who has followed the Bitcoin price closely in recently would see a pattern Bitcoin prices have been following.  From the second half of 2016, the month over month price of Bitcoin has been increasing steadily, irrespective of the type of negative fundamentals the currency had to deal with. Momentary price dips have been countered effectively to keep the Bull Run going up until the start of the New Year. However, the scenario changed from the start of 2017 with Bitcoin prices remaining predominantly sideways in between the $1000-$1250 range. Irrespective of the fundamental reasons, Bitcoin has consolidated enough in terms of volumes to prepare for a good run. Let’s look into how fundamentally and technically Bitcoin stands in terms of an impending run.

Fundamental Analysis

Bitcoin has been contained between $1000-$1250 by various fundamental factors which include the consecutive ETF rejection and the scalability debate. Now that the Bitcoin community seems to have come to some kind of compromise over the block size, the prices have stabilized. More importantly, the block size increase would now accelerate the transactions and increase the Bitcoin’s utility by a great margin. Things look more favorable now for a Bitcoin bull run owing to the dynamics in Japan and Mexico. Japan has legalized Bitcoin as a digital asset and a valid way of transfer starting from April 1st. With 260,000 Japanese vendors all set to accept the digital currency, things are looking very bullish for Bitcoin.

In the western part of the world, Mexico has introduced a bill to legalize Bitcoin which would in turn fire up the remittance market and increase cross-border Bitcoin transactions. With strong adoptive fundamental factors driving the prices, Bitcoin looks charged up for the run.

Technical Analysis:

Technically, Bitcoin has been in a trend and has fallen into a temporary sideways pattern. While the market players are testing the $1200 psychological barrier (at the time of writing this article), the Bollinger bands suggest that a breakout can be expected, and, given the trend it can very well be in an upward direction. While the market still has the potential to drop till $1,100 before making a final launch, it would be wise not to short in such a market.  Even the RSI Indicator is in the mid region showing that there is still buying potential in the market and it’s not advisable to short recklessly in the market.

You heard it here first.

SEC Denies SolidX for Bitcoin ETF Listing, Bitcoin Prices Unaffected

The second week of March witnessed heavy drama in terms of Bitcoin price, swaying fundamentals thanks to the pending approval of Winklevoss ETF. The SEC set the date of verdict on 10th March, before Bitcoin prices rallied anticipating the ETF approval. Nevertheless, Securities and Exchanges Commission decided to reject the proposal, causing a drop in prices and heavy market volatility. Last week of March has seen another Bitcoin ETF proposal being rejected but the markets remained unscathed due to this decision. SolidX was planning to launch their Bitcoin ETF(Electronic Traded Fund) on the New York Stock Exchange. Let’s look into the reasons SEC gave for the rejection of the proposed ETF:

Reasons for Rejection

With SEC ruling out the Winklevoss ETF, speculators were sure that since Bitcoin is relatively new and not well regulated, SEC would cite the same reason for rejecting SolidX’s ETF listing. This turned out to be true and as in the case of Winklevoss ETF, SEC listed the following reasons for rejecting Solidx’s claim:

“The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated.”

What this means to Bitcoin


The main reason why SEC cited for the rejection was that Bitcoin markets are unregulated. With Bitcoin transfers being instant and decentralized, monitoring and regulating the Bitcoin markets is a herculean task. Very recently Node40 has launched software to monitor Bitcoin transactions and calculate the taxes for Bitcoin gains and losses. With good time, we can surely expect methods to regulate Bitcoin markets to effectively come up with a regulatory framework that is easy to operate. An ETF would surely take Bitcoin towards mainstream adoption on par with different investable asset classes. But by the SEC’s standards Bitcoin is not ready for an ETF yet as it would require a well-regulated ecosystem.

Price goes unaffected


After the much hyped Winklevoss ETF decision affected the Bitcoin markets, with a lot of wagering over the Bitcoin prices, people have chosen to ignore the effects of SolidX EFT decision. The Bitcoin market prices were steady and went up by $35 after the decision was made public. This shows the growing immunity Bitcoin has been amassing to mainstream cryptocurrency fundamentals. Such character has been displayed even while Chinese Exchanges decided to ban withdrawals which had a very acceptable impact on prices.

Forget Winklevoss ETF, here are alternative Exchange Traded Bitcoin backed Instruments to invest

Second Week of March witnessed heavy drama in terms of Bitcoin price and swaying fundamentals thanks to Winklevoss ETF that was pending approval. The SEC set the date of verdict on 10th March, before which the Bitcoin prices rallied anticipating the ETF approval. Nevertheless, Securities and Exchanges Commission decided to reject the proposal owing to the risks the Bitcoin markets possess in terms of hacks, security and the irregularities in monitoring. Nevertheless Winklevoss brothers are persistent over the ETF as few Bitcoin based instruments that are being actively traded over various markets have set the precedent. Let’s delve deep into what these instruments are and how they are faring:

Bitcoin ETI:



Europe has been the forerunner in the standardization of the cryptocurrency assets and providing them a platform that is comparable to mainstream assets. A bitcoin backed Exchange Traded Note (ETN) was approved in 2015 in Sweden followed by the approval of a Bitcoin Exchange Traded Instrument (ETI) which was approved in Gilbraltar. The ETI enables indiviudals to invest in institutional instrument that is representative of digital currency. The ETI trades under the ticker ‘BTCETI’ and is approved by Gilbraltar Stock Exchange. The instrument was also approved by Germany’s Deutsche Borse and has found its place in special investment vehicles (SIV).

XBT Provider:


XBT provider is a publicly traded Bitcoin fund exclusively for Europe. It is designed to track the movements of its underlying asset which is Bitcoin in this case. The fund offers Tracker one(ticker: COINXBT) and Tracker EUR (ticker:COINXBE) in the form of an Exchange Traded Note (ETN). The fund investors have enjoyed good and consistent profits over the period of XBT Provider’s growth.

Bitcoin Investment Trust:



‘Bitcoin Investment Trust’ was launched in 2013 by Barry Silbert, is an open ended trust that is invested exclusively in bitcoin and derives its value solely from the price of bitcoin. It enables accredited investors, with annual incomes greater than $200,000 or assets of more than $1 million, to gain exposure to the price movement of bitcoin for a minimum investment of $25,000 without the challenges of buying and securely storing bitcoin. The price of GBTC shares roughly account for 10% of Bitcoin price and hence people wouldn’t be directly exposed to the risk of Bitcoin. It also gives you additional tax benefits apart from the reduced exposure.

Post ETF rejection, Bitcoin price bounces back; Winklevoss brothers to remain persistent

Whenever Bitcoin has set out to breach the market highs from the start of 2017, negative fundamentals surface that stagger the price. It first happened with Chinese authorities looking into Bitcoin exchanges in January, when the market took the first run at the prices. Later when the Bitcoin was stuck sideways between $1000-$1,100, Chinese exchanges stopped withdrawals from the exchange, the prize crashed back to $900 and sprung back up again. Just when the market has consistently traded over $1,100 and was building up organically, the speculation regarding the Winklevoss ETF pushed the prices higher and the speculative volumes pulled out immediately once the ETF was rejected. Let’s dive deep into the dynamics of the ETF rejection and the after effects:

The bets that raged the market:


Market players were betting heavily on the possibility of the approval of the ETF as it would be the first of its kind in USA. With Needham’s report estimating a 25% chance of approval, people were even more interested in the wager. On the off chance that the ETF gets approved, it would attract good investments in the cryptocurrency and push the prices higher. The market was lined up for the chance as we see good amount of investments flowing into the currency and pushing it over the all-time high just before the judgement day.

SEC’s decision and reasons for rejection:


On Friday, March 10th the Securities and Exchange Commission rejected the Bats BZX Exchange’s proposed rule change to list and trade Coin ETF. The SEC explained that the proposed rule change was disapproved because it was not consistent with “Section 6(b)(5) of the Exchange Act. The Act stipulates that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.


This would mean in order to be consistent with the Exchange Act, the Batz BZX exchange should have surveillance sharing agreements with related markets for Bitcoin or its derivatives trading. Additionally the Bitcoin markets have to be regulated consistently for the ETF to qualify.

Winklevoss brothers will keep trying:


After having a rough day on Friday, Bitcoin did bounce back over the weekend by touching $1,243, a solid 18% increase post the ETF rejection. On a positive side, Winklevoss brothers have announced that they wouldn’t stop pursuing the ETF. They are hopeful that the SEC would come around to working with them in bringing the ETF to the market. They feel that the SEC’s oversight and regulation are critical to the health of the marketplace and hope that the commission would accommodate the ETF in a convenient manner. There are operational Bitcoin ETFs in Gibraltar and Europe that have been profitable for the profile of the currency. An ETF on American soil would tip the scales in the favor of mainstream adoption and give the boost the currency requires for healthy sustenance.

Is the world slowly turning towards a #bitcoin oriented economy?

When one sees that the applications of a technology are multifold, with time it would impact the legacy systems. When it comes to cryptocurrencies, the legacy system is the existing financial setup. That being said, the important question here is how are cryptocurrencies impacting it?  Well, the existing financial system has many loopholes which might be dangerous if not properly monitored. Anyone who witnessed or experienced the brunt of the 2008 housing collapse would understand this really well. Too much control over the purchasing power of money and its manipulation can be hazardous. Even the Governments and the Central Banks have come to realize this off late. This has led to the experimentation of State owned cryptocurrencies that are decentralized and open. Let’s look into how countries are experimenting with them in their nascent stages:

Russia hates Bitcoin but wants to have its own cryptocurrency:


After China, Russia became the second country to ban Bitcoin. But as hypocritical it might sound, Russia is considering the possibility of introducing a national regulated cryptocurrency. The Russian Federal Financial Monitoring Service (Rosfinmonitoring) revealed this according to the Kommersant newspaper. The idea of introducing a cryptocurrency is being discussed with representatives of banks and at meetings in the Finance Ministry.  Though it would be a cryptocurrency, Russians are planning to make it a bit centralized as against bitcoin. A Russian regulated cryptocurrency should not be a non-emission currency but it will have its issuer with rights and responsibilities. This issuer can be “financial organizations that will be entrusted with the emission of cryptocurrencies.” This activity is most likely to be subject to licensing, Rosfinmonitoring said.

South Korea’s progressive take:


South Korea can be credited as the most progressive nation when it comes to cryptocurrencies for the variety of applications they provide. From  a wide range of vendors accepting Bitcoin to the launch of the first Bitcoin based ETF in the world, Korea has always been ahead.

Recently,the chairman of South Korea’s Financial Services Commission (FSC), Yim Jong-yong came out with an interesting announcement. He said that his department will “Lay the systemic groundwork for the spread of digital currency.” The FSC is the South Korean government office overseeing financial services. In 2008, the department assumed authority over all financial policies regarding the financial market. No details were given about the form or technology that the FSC’s digital currency will use. Basing on the local experimentation, it is believed that they would be using a new cryptocurrency based on Blockchain Technology.

World’s oldest Central Bank is in the race too:


Sweden’s central bank is reportedly considering the issuance of its own digital currency, ekrona. This is primarily  to address the significant decline of the use of cash in the country. First revealed in a Financial Times report, Sweden’s Riksbank could introduce and issue its own digital currency before the turn of the decade. Sweden has seen a rapid decline of the use of physical cash – both coins and notes – in recent times. It is estimated that the Circulation has dropped by 40% since 2009, leaving Riksbank little choice. A large number of Swedes have abandoned cash for cards and other forms of digital payments turning it into a cash-free society.