The president of Sweden’s central bank (Riksbank), Stefan Ingves, has declared his support for the introduction of a CBDC under the name e-krona.
Ingves turned to the Swedish government with an appeal “to reconsider the legal payments system”, as the law for the electronic krona is a key component for the fast leap into the digital future of Sweden. He noted that the people of the country are increasingly using electronic methods of payment instead of cash, going ahead in that regard compared to many other countries.
Precisely the fast transition to online payments has pushed Swedish authorities to take seriously the perspective for an introduction of a CBDC:
“Riksbank has not yet issued a final position on the release of an electronic krona,” stated Ingves. – “The decision requires a well-established legal basis and last but not least – political support.”
In December last year, the central bank of Sweden made an announcement that the multinational company Accenture will be the leading partner of the bank in the quest to create a pilot platform for the creation of the digital krona. Evidently, this process has been going forward, but in rather slow motion.
