• Swedish krona
    Cryptocurrencies,  Technology

    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.

  • The Bank of England (George Rex via Flickr, CC-BY-SA).
    Politics

    6 central banks team up to explore digital currencies

    England’s apex bank is joining forces with the Bank of Canada, the Bank of Japan, the European Central Bank, and others to study use cases for central bank digital currencies

    The Bank of England’s statement said the group will explore “CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and the sharing of knowledge on emerging technologies.”

  • Cryptocurrencies,  Europe,  Innovators,  People,  Regulation

    Sweden is edging toward issuing a national cryptocurrency

    The Scandinavian nation may take its love for electronic money one step further

    One of the first European countries to print paper money may also be first to phase it out. According to an HSBC analyst report, Sweden is the next nation to emerge as straight-up pro-cryptocurrency. Cash is dying there, with most Swedish residents perpetuating the well-established culture of paying for things via card or app. In 2015, bills and coins represented just 2% of Sweden’s economy. In 2016, the country’s central bank, Sveriges Riksbank, announced it was investigating issuing a formal Swedish cryptocurrency called the e-krona. A lot of pieces fit in the hypothetical jigsaw puzzle of Sweden-as-cryptocurrency-haven. The Swedish population already has a lot of experience with financial technology, thanks…