Bank of Sweden is planning to launch a digital currency called e-krona in 2021 to meet the demands of a society increasingly less cash use.
Sweden is one of the pioneering countries in not using cash. Some banks in Sweden are no longer handling cash. Many stores, restaurants do not even accept the form of pay in cash. Most benefit from this is the private banks with its payment solutions.
However, all will soon change with the plan of launching the digital currency e-krona of the Bank of Sweden. This currency is expected to help the Swedish people have the right to access a means of payment secured by the state, reducing dependence on private banks.
After a long planned period, this idea has been put to the test for 2 years with several pilot payment systems.
Bank of Sweden also began making proposals for legislative changes in order to provide the legal position of the e-krona.