Swedish National Bank to provide support for E-Krona
Just today, fresh news came from Sweden that the local Central Bank will begin to develop a platform for the E-Krona. The monetary regulator said that the state structure intends to actively support the digital equivalent of the national currency. What is the global importance of this news? Let’s understand!
What is Digital Krona
Sweden is a fairly progressive country. The national government is trying to follow global trends. Which is why the state is loyal to Blockchain. Moreover, during the growth of cryptocurrencies, the State Bank of the country (Riksbank) promised to tackle the development of digital currency.
The E-Krona development team, Accenture, has received a formal agreement to develop a pilot platform for the new cryptocurrency. The Swedish government is actively getting rid of cash payments, preferring bank cards and mobile systems. But now this desire goes to a new level. Since the state openly declares its readiness to integrate Blockchain into the daily life of citizens.
What does launching E-Krona mean globally?
Let us immediately refute the opinion that now in each country there will be its own national digital currency. Most likely, the next couple of years, no analogues in Europe or the USA should be expected. The international community will closely monitor the experience of Sweden, since the payment of salaries and benefits in cryptocurrency is a fundamentally new practice. We have no doubt that E-Krona will become successful and will teach other countries the right example.
Cryptocurrency, in fact, is much easier to control than cash. The right approach to the creation of E-Krona will help the government to efficiently distribute funds and ensure the absence of financial fraud. Blockchain technologies will be effectively implemented in the Swedish economy and will certainly help the country keep up to date. If all goes well, according to the established roadmap, the electronic analogue of the crown will begin to work by the end of 2021.
It is likely that by the middle of the next decade, many European countries will want to repeat the experience of Sweden. Cash is indeed becoming ineffective. And it is entirely possible that E-Krona is starting a new era in the global economy. We can only follow all the news. Check our news feed. We publish only the latest material. Thank you for your attention, good luck!