Sweden's Central Bank Releases 98-page Report On Central Bank Digital Currencies
Sweden’s Central Bank Releases 98-Page Report On Central Bank Digital Currencies
June 25, 2020
Sweden's Central Bank Releases 98-page Report On Central Bank Digital Currencies
Sweden’s Central Bank Releases 98-Page Report On Central Bank Digital Currencies
June 25, 2020

Sveriges Riksbank, Sweden’s central bank just released a 98-page report on central bank digital currencies, referencing the country’s own such asset — the e-krona. 

In an initial note to readers, Riksbank’s June 18, 2020 report said:

“The second issue of Sveriges Riksbank Economic Review in 2020 has a special theme, namely central bank digital currencies (CBDC) and the e-krona.”

In December 2019, Sweden unveiled intentions for a pilot program around its e-krona, in collaboration with Fortune Global 500 company Accenture.

The new report from Sweden’s central bank refers to its 2018 Economic Review detailing the e-krona and its progress:

“Riksbank has since continued to delve into various aspects of CBDC, both from an analytical and a practical perspective..Some of this work is summarized in this issue.” 

Riksbank’s 2020 Economic Review includes reasoning behind a Swedish CBDC, listing monetary issues in the country, as well as other drivers. 

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The report also covered points such as including inquiry on such a currency’s necessity, competition and other aspects. 

The review only includes one direct reference of blockchain as seen in a footnote on page 89:

“An open DLT network is associated to several disadvantages; every transaction must be verified by every participant (cf. blockchain) in a time and resource consuming manner. The responsibility for the Riksbank regarding AML, KYC & CTF could be indefinite. Fraud and cyber-attacks are hard to prevent in an open network.”

However, the report mentions distributed ledger technology or DLT several times. 


Source: Cointelegraph | Image: Pixabay

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Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, different cryptocurrencies and decentralized apps.
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