this post was submitted on 30 Oct 2024
626 points (98.6% liked)

Technology

59300 readers
4481 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
L3s@lemmy.world
L3s@fry.gs
L4s@fry.gs
L4s@lemmy.world
enu@lemmy.world
626
Sweden, Norway rethink plans for cashless societies over fears that fully digital payment systems would leave them vulnerable to Russian security threats (www.theguardian.com)
submitted 2 weeks ago by 0x815@feddit.org to c/technology@lemmy.world
156 comments fedilink hide all child comments
 

cross-posted from: https://feddit.org/post/4262252

A combination of good high-speed internet coverage, high digital literacy rates, large rural populations and fast-growing fintech industries had put the Nordic neighbours on a fast track to a future without cash.

[...]

But Russia’s invasion of Ukraine in 2022 and a subsequent rise in cross-border hybrid warfare and cyber-attacks blamed on pro-Russia groups have prompted a rethink.

[...]

The Swedish government has since completely overhauled its defence and preparedness strategy, joining Nato, starting a new form of national service and reactivating its psychological defence agency to combat disinformation from Russia and other adversaries. Norway has tightened controls on its previously porous border with Russia.

[...]

[Norway's] justice and public security ministry said it “recommends everyone keep some cash on hand due to the vulnerabilities of digital payment solutions to cyber-attacks”. It said the government took preparedness seriously “given the increasing global instability with war, digital threats, and climate change. As a result, they’ve ensured that the right to pay with cash is strengthened”.

[...]

you are viewing a single comment's thread
view the rest of the comments
[–] T156@lemmy.world 7 points 1 week ago* (last edited 1 week ago) (1 children)

The risk of the payment system getting shut down and people being unable to make payments for a while is real. And it is one good reason to be less reliant on digital payments.

Or entities. The USA had a brief oil crisis recently because one of the major pipeline companies had their billing system hacked. Since the company couldn't verify whether someone had paid, they just didn't supply any oil.

Couple that with some misleading news stories and social media panic, and it blew up into a proper shortage from people hoarding all the petrol, and leaving none left.