Sweden is the least cash-dependent country in the world, making it a litmus test for how central banks can react to people using less of the money they print.
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Sweden starts testing world's first central bank digital currency
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The Riksbank said it had not made any final decision on whether to issue an e-krona and that the pilot, which is being developed by consulting firm Accenture, would simulate e-krona usage in an “isolated test environment”. Only 1% of Swedish GDP existed in banknotes in 2018, Riksbank data shows, compared with 11% in the euro zone, 8% in the United States and 4% in Britain. In April of last year, the Riksbank asked lawmakers to review the concept of legal tender and its role as a central bank in a digital economy.
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