Sweden has decided to introduce its cryptocurrency known as E-Krona. The chief aim of this move is to compete with rest of the private cryptocurrencies.
Venezuela is considered as the pioneer of state-issued virtual currency. Soon after Venezuela, numerous other counties has started working on their own cryptocurrency. Unfortunately, no one has succeded till date. Hence, the chances of Sweden to become the next cash-less society are extremely high.
Nowadays, people are more interested in electronic payments rather than cash. This growing inetrest compels the nordiac country to launch a substitute for cash. Riksbank, the central bank of Sweden, believe that it is their duty to meet all the requirements of their customers.
As per the unconfirmed reports, Riksbank will focus on all the key components of cyrptocurrency such as KYC and AML policies. The bank will strive hard to keep E-Krona’s value equal to the current Swedish currency. Moreover, the bank will ensure that the money can be accessed through app.