Cecilia Skingsley, one of the six economists in the Sveriges riksbank executive board, launches the idea of electronic money. Photo: Magnus Hjalmarson Neideman
the smaller The swedes use cash, the greater will be the need to investigate if Sweden needs a new form of currency – e-krona.
” We in Sweden are located at the front of the world when it comes to the dismantling of the euro banknotes and coins. Therefore, it is urgent for us to take a position on this, ” says governor Cecilia Skingsley, in a speech she gave at a conference in Stockholm.
the Idea is to find a solution for those who for various reasons can’t or don’t want to use the commercial banks ‘ payment services.
the Riksbank has a range of issues, both technical and legal, to take a stand before it could become necessary to issue electronic money to the public. To the currency, for example, be on any form of credit card or in an app? It will be on an account at the Riksbank?
The uniqueness of today’s banknotes and coins are, inter alia, that it is not, in themselves, are interest bearing and therefore does not represent a credit risk to carry notes and coins, when they are not deposited in a bank account.
Skingsley think it is important that the Riksbank is at the forefront and included in the digital development, at the same time, she stresses that the bank has not taken any decision about an electronic currency, yet.
“Within two years we will have enough answers to our questions in order to be able to take a position,” she says about the timetable for the possible introduction of an e-heads.
But the cash will not disappear, at least not yet. E-the crown shall, if it becomes reality, be a complement.
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