Sweden’s Central Bank Published ‘Economic Review’ with CBDC Insights

By Tracy Hannes | June 24, 2020
Sweden's Central Bank Published 'Economic Review' with CBDC Insights

Sveriges Riksbank – the central bank of Sweden – has reportedly released a 98-page report, providing insights into CBDCs, with reference from the nation’s crypto asset, the e-krona

Specifically, the report – dubbed “Sveriges Riksbank Economic Review in 2020” – reportedly conducted a thorough research into the field of central bank digital currencies (CBDC), as well as the e-krona, as revealed by the bank on June 18th, via a note to the public audience. 

In December last year, Sweden has reportedly disclosed its plan for executing a pilot program related to its e-krona, via a partnership formed with Fortune Global 500 firm Accenture.

The new report reportedly mentioned the data published in its 2018 Economic Review, focusing on the e-krona and its progress. 

“Riksbank has since continued to delve into various aspects of CBDC, both from an analytical and a practical perspective. Some of this work is summarized in this issue.” The 2020 report further read. 

Riksbank’s 2020 Economic Review reportedly covered reasoning behind a Swedish CBDC, listing monetary problems in the nation, along with other drivers. 

The report reportedly also offered data regarding other different points of consideration, nominally inquiry on such a currency’s necessity, competition and other aspects. 

“An open DLT network is associated to several disadvantages; every transaction must be verified by every participant (cf. blockchain) in a time and resource consuming manner. The responsibility for the Riksbank regarding AML, KYC & CTF could be indefinite. Fraud and cyber-attacks are hard to prevent in an open network.”

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