‘Digital Krona’ Being Looked into By Sweden

Sweden is one such country which has just begun testing a digital krona. This is bringing it very close to the release of an actual central-bank digital currency (CBDC). In fact a year from now, the pilot program will be launched in February 2021.

When the so-called ‘e-krona’ officially launches next year for use to the public, the plan is that the blockchain-powered currency will help drive conventional payments as well as different banking activities throughout the nation. This will be instead of using a credit card & spending Fiat currency.

It’s been the talk of the town for the past month or two with the central bank digital currencies becoming more and more popular throughout all the different nations all over the world. The Bahamas was the first country to announce that it will be working on a national cryptocurrency. There is even talked of China jumping on the bandwagon.

The development of this Chinese CBDC is all rumours however, developments suggest that they aren’t that far behind other countries such as the Bahamas or Sweden.

If a digital currency was launched by Sweden next year, it would make sense as the society in the nation uses cashless more than any other country in the world. It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!