Bank of Sweden develops digital crown

Bank of Sweden develops digital crown

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Bank of Sweden Governor Stefan Ingves said that cryptocurrency Facebook Libra project pushed central bank to develop national digital currency.

In the light the last events Rigsbank revised its attitude to money and the direction of further development, starting work over the digital crown project. This also contributes to the large turnover of cash.

By words Stefan Ingves, his the job is to produce a product called Swedish krona, which should be comfortable use citizens country, and key importance in this the technical component plays. Adding that the Central Bank began to issue 20-kilogram coins, as it was in 1668 year, then he would soon cease his activities.

Bank of Sweden develops digital crown

Governor of the Bank of Sweden also said that the appearance new type of currency is an unprecedented event, which happens every few centuries. Although noted that so far most of the private sector monetary initiatives have ended up failed.

Besides Sweden, Facebook has pushed and others countries to develop digital analogues of their currencies, in particular, the German government is considering launching a digital brand, and France has proposed to the EU to create digital euro.

text: Ivan Malichenko, a photo: bonnier

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