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Sweden’s Chief Central Banker, Stefan Ingves, Is Attempting to Drag SwedenTo Digital Age

Stefan Ingves who is Sweden’s top central banker has gone full-in on sovereign digital currency, and the Riksbank director told to do the same upon the Swedish Parliament on Thursday.

Stefan Ingves

Ingves wrote in a Thursday industrial note "There shall be digital state money as legal tender, an e-krona, issued by the Riksbank," that amounts to his most powerful announcement yet in support of a Swedish central bank digital currency (CBDC).


He shifted for Sweden's government to "review the concept of legal tender" and the justice of an e-krona is important to get Riksbank ready for a digital future.


Swedish are giving up cash for digital payments at a world-leading speed, he stated. 


That's provoking Riksbank to fight with a CBDC. Although many monetary officials are now analyzing Independent digital currencies, Sweden is trying to really pilot one.

 

Also important: Sweden's e-krona pilot plan is working on divided ledger technology. 


Ingves asked upon the Riksdag and Sweden's management to discuss the digital shift with law.


At first, Riksbank asked for the establishment of a committee to analyze cash in April 2019. The suggestion removed the Riksdag that June but has met with the government regularly. "We also need help from" the government, Ingves told.

"The Riksbank has not yet taken a formal decision on whether or not to issue an e-krona," he told. "A decision to issue an e-krona requires a legal basis and political support."

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