Sweden, one among the most cashless society is moving closer to launching its own sovereign national digital currency. The Swedish government is starting feasibility trials in the form of a review which was launched on Friday as reported Bloomberg. The trials will be lead by Anna Kinberg Batra, a former chairwoman of the Riksbank’s finance committee which is expected to commence by November 2022.
A recent survey by The Riksbank conducted back in October revealed that the ongoing pandemic has reduced the use of cash in Sweden further, where less than 10% of all the payment settlements are done in cash.
Sweden is already conducting pilot programs for its digital currency in association with Accenture PLC to introduce e-krona based on Proof-of-work blockchain. The feasibility trials would give a clear picture to the government on whether the country is ready to use the electronic krona or not.