Does Demonetization Work?
"While the Indian government's dramatic and surprise demonetisation
campaign garnered most of the headlines, India is not the only country
in the world potentially headed on a path (however long it may be)
towards a cashless society. Some analysts are already predicting that
Sweden could be totally cashless as soon as 2030 (see the video below),
but it is the country's banks that have led the transition. In China
too, it is the private sector and the market that have catapulted that
country into the top-flight of cashless-ready economies."