Sweden’s financial markets minister Per Bolund said today the government is studying the creation of a central bank digital currency along the lines of China’s digital yuan renminbi or e-CNY. However, the nordic state won’t even decide on an e-krona until November 2022.
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Google searches for CBDC's spiked as much as Bitcoin did in late 2017/early 2018, and Libra in 2019 (Photo: BIS)Central bank digital currencies capture public’s interest like Bitcoin, Libra
Google searches about CBDCs have grown as fast in 2020 as Facebook’s Libra did last year and Bitcoin in late 2017/early 2018
According to an Aug. 24 report from the Bank for International Settlements, “there is growing discussion of a new payment technology: central bank digital currencies (CBDCs).”
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Riksbank begins piloting a mobile app for the e-krona
The central bank of Sweden is conducting a test with Accenture aimed at developing a technical proposal for digital cash
Sweden is worried about the declining use of cash in the country, so it is looking into an alternative: a digital e-krona that will work on a mobile app and function similarly to cash.
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China completes digital yuan design
The People’s Bank of China says it has completed the ‘top-level design’ and joint testing of its forthcoming central bank digital currency
The next steps in the country’s digital currency/electronic payment, or DC/EP, project—which it has been hammering away at for five years—are to “follow the principles of stability, security and control” and to “select pilot verification areas, scenarios and service scopes,” said Mu Changchun, the head of the PBOC’s digital currency research institute.
