Sweden could be first with national digital currency

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https://www.rt.com/business/367141-sweden-digital-currency-launch/

The Central Bank of Sweden is considering issuing a national digital currency to solve the problem of a dramatic drop in the domestic use of cash. The so-called e-krona may be introduced within two years.

“The less those of us living in Sweden use bank notes 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,” Riksbank Deputy Governor Cecilia Skingsley told the Financial Times.

Sweden’s Riksbank is the world’s oldest central bank, and was the first to issue paper banknotes in the 1660s.

Alternative methods of payment have been gradually replacing traditional cash in Scandinavian countries. The Danish government is considering the option of going completely cash-free for the country’s shops and services.

The quantity of notes and coins in circulation in Sweden has fallen by 40 percent since 2009, with a rise in online shopping and card payments. Swedes are among the world’s biggest credit card users.

If Sweden decides to introduce the e-krona, it would become the first major country to give consumers direct access to virtual money issued by a central bank.

“This is as revolutionary as the paper note 300 years ago. What does it mean for monetary policy and financial stability? How do we design this: a rechargeable card, an app or another way?” Skingsley said.

Despite all the potential benefits and challenges arising from digital currencies, there have been fears the shift to electronic payments may negatively affect the poor, elderly and disabled as they lack access to technology and credit. Another issue is the high number of fraud cases involving electronic transactions.

———-

following on from the citibank post a few days ago here is another country about to do away with cash..

“The Central Bank of Sweden is considering issuing a national digital currency to solve the problem of a dramatic drop in the domestic use of cash. The so-called e-krona may be introduced within two years.”

everything can be tracked..everything can be taxed..bartering will be the new black market..

“Despite all the potential benefits and challenges arising from digital currencies, there have been fears the shift to electronic payments may negatively affect the poor, elderly and disabled as they lack access to technology and credit. Another issue is the high number of fraud cases involving electronic transactions.”

minor details..eh?

401

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~ by seeker401 on November 19, 2016.

7 Responses to “Sweden could be first with national digital currency”

  1. Reblogged this on EbolaInfo and commented:
    The statists and the Banking class? Two power hungry obfuscating groups want to further control the means of exchanging value between sovereign human beings.

  2. I think either Australia, Sweden & USA are prime targets for digital currencies. These countries are full of Millenials (or Gen-Z ombies)..

    It’s something i wish to see in my life-time..some people like to see the Eiffel Tower, Taj Mahal or Machu Pichu but i prefer to see a complete digital currency..lol

    I think it will be widely accepted if the bankers put in a free balance of $2000

  3. The Western millennial youth are “brainwashed and distracted” man-babies who “call their mother because they have avocado stuck in their beard,” claims Putin, who says that “Russia does not have millennials.” President Putin has identified Western millennials as key players in the New World Order’s battle for global supremacy, and suggested he fears the millennial generation is being “rendered useless.”
    “They have been brainwashed and distracted from the real, how do you say, meat and potatoes issues facing our world. They have been distracted, rendering them useless,” Putin said. The 63-year-old Russian president, speaking to a Kremlin tour group, explained that “reality TV, smartphones, Pokemon Go,” have distracted millennials from what is really happening, and that “the issues they actually engage with, the social and political issues, are worthless.”
    How could Putin say such a horrible thing? Doesn’t he realize what he said is “offensive?”

    Putin believes media and government are coddling millennials, treating them as “pampered pets” and encouraging them to engage with “worthless social issues” because it keeps them distracted from more serious issues, according to Kremlin sources. “They have been convinced the New World Order doesn’t exist, that these people are not operating against their interests,” Putin explained, “and this is the greatest accomplishment for them [the NWO], for their goals. To have a whole generation with their eyes elsewhere.”

    Putin expressed sympathy for the financial plight of the Western millennial, stating that the economic difficulties and uncertain futures many of them are facing is “intentional.” “The situation is the result of an intentionally destabilized economy,” Putin said. “They should be fighting back, but they cannot see it. So they fight for other things.”

  4. Jct: I wonder how much interest they’ll charge to use their blips?

  5. Reblogged this on World Peace Forum.

  6. Reblogged this on Asian Pacific Times .

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