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The Swedish Central Bank publishes a 98-page “Economic Review” for CBDCs

June 25, 2020

Sveriges Riksbank, Sweden’s central bank, dealt with the central bank’s issue of digital currencies. o CBDC, on 98 pages, relating to the country’s assets: the e-crown or the electronic crown.

“”The second edition of the Sveriges Riksbank Economic Review in 2020 has a special topic, namely the digital currencies of the central bank (CBDC) and the electronic crown“The Riksbank report of June 18, 2020 said in a first note to readers.

Sweden’s interest is not new

In December 2019 Sweden, in collaboration with Accenture, announced its intentions for a pilot program around its electronic crownwhich is on the Fortune Global 500 list.

The Swedish Central Bank publishes a 98-page “Economic Review” for CBDCsThe Swedish Central Bank publishes a 98-page “Economic Review” for CBDCs

The country’s new central bank report refers to the 2018 audit, in which The electronic crown and its progress are described in detail. “Since then, Riksbank continued to deal with various aspects of the CBDC from both an analytical and a practical perspective“According to the 2020 report”. Part of this work is summarized in this issue. ”

The new edition deals with various aspects of CBDC

The Riksbank 2020 economic report contains reasons for the Swedish CBDCList of the country’s monetary issues and other drivers.

The report also addresses other issuesincluding examining the need for this currency, competition and other aspects.

The review only contains a direct blockchain reference, which can be seen in a footnote on page 89, which states:

“An open DLT network has several disadvantages. Every transaction must be checked by each participant (see blockchain) in a way that uses up time and resources. The Riksbank’s responsibility in relation to combating money laundering and controlling cross-border movements and the The fight against terrorist financing could be unlimited. Fraud and cyber attacks are difficult to prevent in an open network. “

However, Distributed general ledger technology is mentioned repeatedly in the reportor DLT.

After Coronavirus measures fled in March, The USA. They proposed a digital dollar, although that dollar contained neither blockchain nor DLT.

Cointelegraph contacted Riksbank for further details, but received no response at the time of this writing. This article will be updated when a response is received.

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