Earlier we wrote about that one of this disadvantages of a cashless society is that it would further increase the already great power of commercial banks. We proposed that the national monetary authority to issue stored-value cards to enable the public to make payments without having to rely upon the services of commercial banks.

Apparently we are not the only ones who are concerned about the dark side of a cashless society. The central bank of Sweden is currently investigating its own version of bitcoin. This “eKrona” would allow people to use central bank money directly, without interference of commercial banks.

Electronic money directly issued by the state or central bank to the public is, of course, fully compatible with stored-value cards. In fact these data has to be stored somewhere, whether on your personal computer or some plastic card.

Actually a stored-value card may be preferable for security reasons, as such card has no direct access to internet. If one does not need one’s SVC, one could keep it separately from one’s computer.

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