investors made big promises, but years later, reality looks very different from little creatures drinking water shortage. i feel like you're gonna stream most black gold. oil starts december 4th on d w. what do you always carry with you? your smartphone keys and some cash or keys, a smartphone and credit card germans are increasingly split on this one. cash was long king here. but more and more people are switching to credit and debit cards in part due to the coronavirus crisis. by card contactless. oh yes, look, i card behind me. i mean i'm someone who prefers cash because it gives me

a better idea of how much i'm spending. but because it 19 has changed and now i pay with plastic tops. i'm almost a shell and you have to ask yourself, why do people want to abolish cash? so if some banks and their backs on cash completely, they don't have any brick and mortar branches or a.t.m.'s by the cashless payments are on the rocks. but experts are warning we're paying with our data. he's a monster monster commodore axiom, google, facebook, twitter interfaces that 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 if the russians put in a sombrero switches off the system and no defenders pushed

around by, respond to make, has polluted cashless payments. who's profiting and what price are we paying off our back for should just be a life without bills and coins. what might that be like in scandinavia? it's already a reality. yes. 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. and the 1st thing that i do after arriving is go in search of an a.t.m. . in sweden that's not so easy. there are few and far between and then when i go to the newsagent's to buy some water and peppermints, i'm told i have to pay by card. do you

think i'm going to meet till a german who's been living in sweden for many years and who works at the university? he can't quite remember the last time he actually held up bank note in his hand. social distancing has become a habit for me, but my attempts don't really work here. at the moment, few people in stockholm are wearing face masks. either. we're going to tills, favorite bakery, which has everything apart from a cash till. what shall we buy? i recommend if they're good here. what are they there? cinnamon buns made with cardamom. i can really recommend. ok. very thoughtful. lucas puts our pastries going to box and i get out my card to pay because he hasn't got a cash till now. look,

us is surprised at my surprise. use jesse germany. yes. your stress in germany still when you catch up? well, good for us. i guess i do trust that somehow. and not everybody house. everyone has a card and debit credit card. when bakeries typically cannot pay by card and they're just really, i mean for me living near it's very annoying going back. ok, i'm now stuck and i have to go on walk around 5 blocks and over get an a.t.m. for any progress where it's anything you can have as much money as you going to support. and if you know, she says that having no cash in the store is much safer. yes. i can be completely cold and considered it. but if you want to see lower taxes to go in for the good, no robots, i'm sorry that you love yourself. so you don't have the cash flow to egypt

because that's 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 strawberries at the market in germany, paying by cash would be the only option not to run for office but still doesn't the swedish way he just has his mobile phone with him. so he's going to use a payments app called switch. it's 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 it's arrived and then you can it doing? what's the bible for us? it proves it's not just a photo, but i'm actually sending him the money. i'm impressed but it's not the quickest way

to buy strawberries. it does take time. i just how are the government side? oh yes, it does. go by, thank you. and the swedish banks and payment services have almost based out cash completely. most banks don't provide cash in the war. it's 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 e-mail. here, money has become merely digital information. this also means that swedish electronic payment systems can track most people's financial transactions. big brother is watching you. until can keep tabs on his kids spending. behavior of course still doesn't give his 2 children their pocket money in cash. it's all digital the system gives him

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 he's visited, plus the times of purchase and the sums he spends the comics with and do you see how much money your house rises? i don't know how, but that does, he can see how much money i have to get the shot. a few kind of sense if you have money left over as it is us, this is not just for a child. i know that i have some last when but when i buy something for more than 20 kroner, i kind of get the feeling that i shouldn't be doing that. it's my society. yes, that's quite good. i saw that you stayed under 20 most of the time in june, but you went shopping pretty regularly. i don't know if you can see that really every purchase is listed. i'm just,

i'm still in this one. it tells daughter lou only pays by card and occasionally uses a mobile app. so your dad can see what money you're transferring in when you buy a house going. now, i think he can see where i shop, but not what i'd buy with the bank card. after i got caught, and that doesn't bother you. we know this at the moment, but in a couple of years, i realize my cash isn't much use here in sweden. i wonder of all even be able to spend the cronut that i withdrew. but then i come across a little tie, eating place in the countryside, where the owner is kind enough to let me play with real money. right out front is sweet 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 sweden's lead. i want to ask they a harvard lecturer and research analyst at deutsche bank. the french economist has conducted a study recently on the subject. do we have to say goodbye to cash yet? but what, when the, just since the beginning of the year on this fisheries, since the chronic crisis came, gushing circulation has diffused the increase because it's once you know that it's safe, even stalls that you and follow if i frequented, i guess as a means of payment it has definitely decreased less honest. people are up by gas in

december a further people used to because that less in germany and today, i mean, you know, he's most, you know, he's 50 press on up. you got the case many germans are abandoning cash and switching to card payments because of the coronavirus. other countries have gone even further. south korea to china, we decided to call, untied an event, destroyed bank notes. and just one more example is the us defended this idea to crown fine banks, nuts coming from is to make sure it was safe. this is reasonable. the risk is very low. but every person of you how do you pay everything by contact lists and to see the same. and i mess that i'm putting cash into quarantine, burning bank accounts,

going cash free. it all sounds a little crazy to me. is the virus changing our behavior? just to sense the spread of i've gotten used to paying by card. i used to always have cash on any during the pandemic, it's recommended we pay by college. greater risk of catching cold if you use cash. but is that really true? in berlin, i'm going to meet one of germany's top money men. the executive board member of the board is responsible for cash management. i want to ask your highness bama whether bills are coins, can spread codeine team and whether germany as likely to go cash free. and on time soon 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 that's been sufficiently disproven. if you look at the banks, like the 5 euro or 10 euro bills here, which aren't particularly heavy circulation, and they have a special coating. we know from research that bills and coins don't play any role in the spread of infection. ornish stopped using $500.00 euro bills last year. critics call them impractical. they were also linked to corruption and money laundering. is that the crux of the matter? there's an initiative called better than cash that's calling for cash to be abolished. they say slush funds are a problem, money laundering that declared to the tax authorities or the state i'm stopped

there. 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 that we have to ensure that. but i don't 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 doesn't believe that cash is about to be replaced by cards or mobile apps any time soon. it's 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 to finance senator complained in 2019 that up to 80 percent of revenue in this sector was not declared to the tax authorities with her organic produce and great

location doesn't need to resort to low wages, cutthroat prices and cash in hand payments, but she knows these practices aren't uncommon in her trade. as a swat, 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 $400.00 euros a week. cash in hand. but you only registered as having a $400.00 euros. jump with the author of it. so the state loses out. yes, when i buy my french fries at a budget supermarkets, and i don't declare that either. how do you mean? well, i buy them, but i don't submit the receipt as an expense. i throw it away. so the tax office can't estimate what you might have earned. that's right. they don't know what amount of french fries i'm sending. electronic cash tills. mandatory receipts and

other types of monitoring are helping to eliminate such practices. zebul pays our employees more than the minimum wage, and it's 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 it's almost one in 3. she welcomes the development goals, but side cash payments were real boon for us there on 20 disadvantages. we don't have to gather up the cash and take it to the bank every evening. that's become far too dangerous and you can't give anyone the wrong change. we're glad when people pay by card, to be honest with us tonight. i'm a card about science because whenever i pay by card, i leave a digital footprint for every beer and back of french fries that i buy. but who's interested in this information and why?

and what repercussions does that have on our everyday lives? diaz, university of economics and business is the largest university of its kind in europe . for many years, professor exact, i should be, 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 meantime, they can observe everyone in real time via all the digital media that they use to create large scale profile. but it's 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 guy,

what you pay for way you go on vacation, how much you pay. they know it all. human that side is how much alcohol you drink, how much alcohol you drink. you can calculate those kinds of things to you and so much information to the highest bidder that we've analyzed. for example, how oracle blue kaya has described collecting 30000 user attributes from 200 data vendors, which would allow them to create the profiles of $700000000.00. well, that's probably the entire western world, and best in her bed, think of the entire western world. and if we look to see who's 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. i do ordinary people, people who are quite similar to each other might find themselves paying different prices for flights, hotels, all kinds of things most or they might be refused insurance or passed over for a job offer. they might find all those negative things happening to them and put it down to bad luck or fate. when in reality, it's the result of databases making some sort of prediction about them. and people behind the scenes, their earning money to create these profiles of people. it's 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 let you enter a store and pay for goods. ai 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 miss, i'm late. if i pay with a smile and i start to connect, it's my to economic transactions. and this habit will also leave its imprint in my real world. i don't think we really want those kinds of associations to develop our society and social interactions would become subtly commercialized. comments he's

speak among would like cash to be retained and not only for data protection reasons . this told states not how it can be rapidly, no town to ask mit systems. it's a matter of security. we need a concrete backup. we still need cash for security reasons. one, as paying becomes increasingly easier. contactless and perhaps more hygenic. we're giving away more and more information about ourselves. i'll probably never know exactly what companies know about me. why are banks interested in what i buy? where and how much? i'm 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 it's already faced a fine for breaching data protection laws. as well as criticism from germany's financial regulators. china's tech giant 10 cent owns

a big stake and 26. i'm meeting georg howard general manager for germany, austria, and switzerland. because i want to ask him whether smiles of pace will be coming to us anytime soon, just to see if some good things at the at the moment. i can't 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. it's quite clear that cashless payments are on the rise and use them for much. in the end, 26 prefers to let other banks student things like keeping reserves of cash eyed face to face customer service and maintain brick and mortar branches. the new, the fin tech start up is a digital bank. the company would like us to use our mobile phones and to manage our finances in the us,

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? back to customers feel that their spending behavior is influenced by this? that's a hit. what was i going to get when you pay electronically? you can monitor more closely what you've spent. then when you pay by cash, it's hard to say a month after you've 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. you know, it's not the data protection is important to the e.u. . do you as a bank share that concern that we give the customers this data? if it's an automated process, that means that none of our employees see this data. it can only be accessed by our customers already here. being able to manage your finances better

does sound like an advantage. but doesn't really matter to me what i spent, where last april. and i'm 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 doesn't leave behind data trails. the name might mean pay by cash, but it's not as old school as it sounds. rather, it's a kind of digital analog hybrid. not everyone who wants to pay by cash is tech averse. to get this all and it's also there's a big group of people who want to use cash in a digital context because they don't want to reveal their personal data online. cash has many advantages. it's flexible and anonymous. i don't need to own a cardio. i don't need to be a customer somewhere with the management of so me

a world without any cash. that would mean that europe and germany would be dependent on the 2 big u.s. credit card companies that control all our payment transactions. do i really want that? so how does parts work? for example, it works by a certain store, so it doesn't matter if i want to pay for an online purchase, or if i want to pay an official fill or receive money, for example. or if i want to pay money into my bank account, or get money out of my account, if i always receive an encrypted barcode that i used to get money or make a payment, the barcode stipulates how much money is paid in or paid out. it doesn't involve the transfer of any account or credit card data, and a fresh barcode is generated for each transaction. he's 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, it's a withdrawal from my checking account, but it could be a reimbursement for a return 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 can't tell from the bar code what transaction i've made. the information isn't passed on to 3rd party. and by typing in cash is a way of stopping everyone from knowing all our business even in cash pre-sweetened, there are a few people who want to keep bills and coins beyond eric's song, opposers going completely cash 3 $100.00. the former interpol president

is acquainted with the underground economy cyber attacks and money laundering. and he's still battling for the retention of cash. i'm for cash as an option, not as an awfully, which is a major difference. they want to have a monopoly. i want to have a possibility. some people can deal with these modern, did you do a lot system? it's about 1000000 people in my county and they are looked at as profitable. just leave them. i don't like that up a society. what happens if russians, putin, a sombrero switches off the system? we have no defense. how do you defend yourself if you just have this course that doesn't function cache support? if it option. and the 3rd one which young people is what they see in china and nations where you use these truly citizen. because if

you're have a system, you have a technology, you have a technology, artificial intelligence are going to be young, people don't like that. eriksson also believes that it's important for digital natives to have access to cash. and he's 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. it's people saying we cash because we cause it's respect. but these type of arguments for me, it's not particularly impressive. erikson 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 are immensely lucrative. the data broker industry is in turn, making huge revenues and penetrating our minds in ways we barely suspect. for me, cash represents a form of freedom. a freedom i'd like to pass on to my children for their digital future. and

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play, play. play. this is good news, live from berlin. mission to the moon. china launches an unmanned spacecraft to the lunar surface. the mission to bring the lunar rocks back to earth. what would success mean for china's on bush's space program? ask a rocket scientist also coming up u.s. president elect joe biden, nominates 2 veterans diplomats for top cabinet positions. anthony blinken as his secretary of state john kerry as his special envoy on climate change.