Sweden Explores Moving to a Digital Currency

[nemey]

With the news that Sweden will soon move and issue its digital money. Then this will be a big influence in the advancement of crypto. And the crypto price could be even higher. In fact, there will be many new projects to follow this Sweden. And maybe it will soon be followed by other countries.

[jaysabi]

Smart nations will realize that going digital will help them a lot, smarter nations will realize blockchain is the way to go there and nothing else. I understand that you could move to digital currency without using blockchain and that will be just server backed thing, but I think that is not the smartest way to do it, when you use blockchain instead you are getting so much more and you are also getting your nation to another step in technological evolution as well.

Sweden is a smart nation, they will find the best way to do this and they will definitely check out blockchain as a government as well, this is one of the nations with best healthcare and happiest people in the world, I doubt that there could be anything that would specifically ruin their economy just because they are looking into this.

No, of course not. It's just heartening to see a country attempt new things to spur innovation.  It's one thing for a country to take a hands-off approach and let innovation kind of run, but it's another to try and help it along to see if there's an economic benefit to be had.

[Argoo]

With the news that Sweden will soon move and issue its digital money. Then this will be a big influence in the advancement of crypto. And the crypto price could be even higher. In fact, there will be many new projects to follow this Sweden. And maybe it will soon be followed by other countries.

In practice, this is no longer news. More than 80 percent of all states are currently exploring or trying to switch to their national stablecoin. In the near future, virtually all states will have their own central bank stablecoins.
Most governments have already stated that using blockchain technology in non-cash payments is much more efficient and profitable.

[emmybd]

Sweden seems to be considering the possibilities of moving to a digital currency. The government, even back in 2018, was the most used-country in terms of cryptocurrency, according to the gross percentage product. According to Per Bolund, the financial markets minister, a review shall be launched before 2022 comes to an end. Sweden is one of the first countries to assess this idea officially.

Sweden’s central bank has teamed with Accenture for a pilot project as they work on discovering an electronic krona under blockchain technology. Krona shall be taken on a political rank as asserted by Governor Stefan. Mr Bolund asserted,  "it's crucial that the digitalised payments market functions safely, and that it's available to everybody.”
Sweden’s usage of cash has declined to a historically low statistics amidst the pandemic, as physical entities have begun to endanger lives. Bank in Sweden has reported that cash payments have dropped to lower than 10%.

[CryptopreneurBrainboss]

I don't know that it would bring any tangible benefit to bitcoin specifically, but I think it would bring further legitimacy to digital currencies as a whole, of which bitcoin could potentially be a beneficiary in some capacity, though how much specifically would be hard to gauge.

It'll because non of the new so called digital currency (developed by countries or in development) will have the features posses by bitcoin, her finite supply, decentralized mode of operation etc. The new currency would obviously been in a form of stablecoin that's fix to their local currency, precious metals or US dollars. Also there would hardly be any profit to be made from holding those currency instead it'll mainly be used for purchasing of goods and services and other necessity.

One of the reasons bitcoin is attractive both to the sophisticated investors and everyday individual, is her potential of giving you outrageous gains in the shortest time possible. Her volatile statue is her strength, the government backed digital currency won't be having that therefore bitcoin will still be having a strong advantage over any government backed currency. The competition could be won by them when utilities is been debated on but for the assest aspect, that bitcoin still holds.

[carlisle1]

So meaning Sweden is Making the right thing now and Starting to adopt from the European Union ?

They have done this for long years Because if the world is ready using Online payment before the pandemic happens ? we are sure that Europe and US might now experience
that too much infections.

With the news that Sweden will soon move and issue its digital money. Then this will be a big influence in the advancement of crypto. And the crypto price could be even higher. In fact, there will be many new projects to follow this Sweden. And maybe it will soon be followed by other countries.

European countries needs this start up, if sweden took the risk and succeed then at all chances the nearing countries will surely convert on to this as well.

[Kashture]

To my mind, Sweden electronic krona based on blockchain technology will be just a digital currency implemented and controlled by Sweden national bank. Sure it might be very popular in Sweden, but it won’t make any competition to Bitcoin or somehow influence on Bitcoins price.

[Nikola95]

Yes, it would be great for crypto, for blockchain and IT technology.  While it won't be connected to BTC and alts directly, it will help them indirectly. Because, btc have biggest popularity when it come to digital currency and it will stay that way.