Sweden’s government will start exploring the feasibility of having the country move to a digital currency.
Sweden is among the first countries in the world to consider introducing a digital currency. Its central bank is already running a pilot project with Accenture Plc to introduce an electronic krona based on the same blockchain technology that underpins digital currencies like Bitcoin.
The Riksbank estimated in October that Sweden’s cash usage dropped to its lowest level ever, as the pandemic accelerates the shift away from bank notes and coins. Less than 10% of all payments are made with cash in Sweden, according to the bank’s research.
The Bank for International Settlements estimated back in 2018 that Sweden is the world’s most cashless society, measured as usage as a percentage of gross domestic product.
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