SWEDEN SET TO BECOME FIRST ECONOMY TO INTRODUCE OWN CRYPTOCURRENCY

Sweden’s central bank, the Riksbank, is looking at launching a national cryptocurrency called the e-Krona in as few as two years.

Sweden’s position as potentially the world’s first cashless society has lead to a research note, written by HSBC economist James Pomeroy, entitled “Sweden’s big year: Can the economy overcome some challenges?” to identify the country as looking for international cooperation in developing an officially-sanctioned cryptocurrency. The note reads:

The so-called e-Krona will have to be able to be used for small purchases, as a claim on the Riksbank and be accessible by companies, individuals and financial institutions at all times.

Sweden’s Riksbank has very much been at the forefront of monetary advances over the years, as their governor Stefan Ingves is eager to point out:
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