Bitcoin Newsroom Articles
According to a survey, the Swedish population isn’t keen on the e-
Riksbank, Sweden’s central bank which is, incidentally, seen as the world’s oldest central bank having issued paper banknotes in the 1660s, hinted at developing and issuing its own digital currency before the turn of the decade. Sweden has seen physical cash circulation drop by 40% since 2009 as Swedes turn toward cards and digital payments for transactions.
Having taken notice of the trend toward a cash-
Cecilia Skingsley, deputy governor at Riksbank stated at the time:
The less those of us living in Sweden use banknotes and coins, the clearer it becomes that the Riksbank needs to investigate whether we should issue electronic money as a complement to the money we have today.
However, a survey taken by Swedish social research firm Sifo revealed that a majority
of Swedes aren’t particularly encouraged by the prospect of the e-
The survey, taken on behalf of Swedish digital payments firm Tieto, revealed that
half of those polled did not want the e-
Digital Innovation Came Early
The lack of interest in the e-
Put simply, the Swedish public gained early access to digital payments and Fintech
and do not see any inherent value with a central-
The initiative can help to accelerate the development of new digital services in the area, which is positive. At the same time, there is a reluctance among consumers about the added value such an exchange can provide, not least at a time when more and more alternative digital pay services are launched.
Shot in the Dark
Another factor contributing to the underwhelming public reaction to a Swedish digital
currency is the lack of a proven use-
At the time of the announcement in November, Riksbank’s governor Skingsley addressed
how issuing the e-
“Although it may appear simple at first glance to issue e-
Sweden’s Riksbank is expected to make its decision about its digital currency within 2018.