Sweden's central bank, other European countries and the rest of the world are working on their own nationaldigital currency. Sweden has made significant progress in this process, announcing that it will test e-krona in partnership with Accenture.
In a statement, the Riksbank said that “the main aim of the pilot project is to increase its knowledge of the central bank’s digital krona.”
It turns out while it will not be available wideto the public, “conditional users” will be able to store the coin in a cryptocurrency wallet and use it for payments, deposits and withdrawals. Apparently, sending money will be as simple as sending text - at least that's what it says on the site.
This is going to be interesting. #ekrona #riksbanken https://t.co/wO0HUmWBr2
- xcgabriel (@xcgabriel) February 23, 2020
The pilot project will last until February 2021,after which Riksbank will decide whether to create an electronic crown or not. The idea of developing a digital currency first appeared in September 2017, shortly before Bitcoin peaked at $ 20,089.
Interestingly, Senegal, Cambodia and the BahamasThe islands have already tested the central bank's real digital currencies (CBDC) with real citizens. Cambodia jumped into a crypto train in July 2019, and now anyone with a Cambodian phone number can join the project.
In 2016, Senegal issued its own CBDC undercalled eCFA and linked the asset to the national currency. In the same way, the Bahamas developed its own cryptocurrency called Sand Dollars, it was released in 2019.
However, given that Sweden’s GDP exceedsfigures of all three countries combined, the electronic krona of Sweden can have a significantly greater impact on the global economy and its perception around the world.
Dubai also launched its own digital asset called EmCash.
There are many other countries that are also exploring the possibility of launching a central bank digital currency. Among them, Japan, France, Russia, the United States were puzzled by the creation of a digital dollar.
Interestingly, Switzerland opposed the state digital currency because of the many risks.
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