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Swedish not in favor of Riksbank’s digital currency ‘e-Krona’
Swedish are not much in favor of the digital currency ‘e-Krona’ which is being considered by the country’s central bank.
Riksbank last year revealed that it has been debating whether or not to issue e-Krona. Speaking at FinTech Stockholm 2016, Berns in November 2016, Riksbank Deputy Governor Cecilia Skingsley said that the debate is particularly relevant for Sweden, as cash is being used to a declining extent and is sometimes difficult to get hold of.
“Whatever direction the Riksbank chooses to take - whether or not to issue e-krona - it can have a major impact on the payment market, the banks’ business models, the way interest rate setting functions, financial stability, and so on”, Skingsley said. “The Riksbank is one of the central banks that will need to take an active stance on whether or not to issue a digital currency first.”
However, according to a new Sifo survey, nearly half of all Swedish are not in favor of e-Krona and think that it should not be introduced to complement the cash.
The survey was carried out on behalf of software and service company Tieto. 1268 people aged 16-79 years were surveyed during the period 11 to 14 December.
The survey results showed that one in three do not care about the issue. Also, while 67 percent of respondents were aware of digital currency bitcoin, only 2 percent should have used it. Only about a tenth Swedish favored e-Krona.
“Would e-crown to become reality, Sweden become the first country in the world with its own digital currency. The initiative can help to accelerate the development of new digital services in the area, which is positive. At the same time, there is a reluctance among consumers about the added value such an exchange can provide, not least at a time when more and more alternative digital pay services are launched, "says Charlotta Wark, director of digital payment solutions at Tieto, as quoted by Breakit.