The eKrona initiative in Sweden does not have many followers
Sweden’s intention to introduce an electronic version of its legal course currency (eKrona), is not very popular among citizens. A recent survey by the Swedish company SIFO shows that at least 50% of the population is against the Central Bank of the country that has wanted to introduce an electronic currency in order to supplement the cash.
It is mentioned that the decision to introduce eKrona was announced last month by the deputy governor of Riksbank, which is the Central Bank of Sweden. According to previous reports the fall in volumes of cash-based transactions was the foothold to make the decision. The reports noted that the number of cash and currency transactions had fallen by more than 40% since 2009 and the inherent advantages of electronic money could have been a favorable point to take the path of change towards Digital currency.
On the other hand, eKrona’s announcement from the Riksbank was well received by economists, financial insiders and other leading players in Fintech’s ecosystem. However, the general population is concerned about the future of the economy without cash. With less than 10% of the population in favor of the digital equivalent the SEK, it will be seen if the Central Bank goes ahead or gives up the idea. Most people are not clear on the added value of such a decision, which can offer especially when there are shortages of digital payment services in the current market.
To this, the survey revealed a weak bitcoin ecosystem in the country. For this reason, among the 1268 people in the 16-79 age group interviewed during the survey, 67% had “some knowledge” about bitcoin. But only 2% of them have used cryptography to trade or conduct transactions.
On the other hand, it is believed that the introduction of eKrona will open the way for greater acceptance of Bitcoin and other alternative currencies in the community. Undoubtedly the potential of the Riksbank initiative to catch up with other countries, this has been a much discussed topic, to enter the era of digital coins. If the Central Bank decides to go ahead with the introduction of eKrona it will pave the way for new digital services, which are cheaper for users. New announcements are expected.
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