Finland pioneered the Avant card in December 1992 much before the arrival of Bitcoin. It was prepaid card that could be loaded with 500 Euros or $602 in today’s terms. It could be recharged. It was aimed at replacing cash. Consumers were not fond of the card. Retailers found it cumbersome to have POS to make the transaction. The card was sold to a group of banks. It was finally phased out in 2006. Today the card could be seen on eBay and is available for $10.

However, such innovations lead to a whole new eco-systems — digital currency and cash.