The governor of Sweden’s central bank has issued a five-year time frame within which he expects the country to have a central bank digital currency.
The main obstacle encountered during the trial was scalability, which it identified as a potential bottleneck to adoption, according to Riksbank.
A trial of Sweden’s e-krona will be extended for another year to 2021, in a bid to better understand the benefits and implications of a wider roll-out.
The review will reportedly take two years, with the results expected to dictate the way forward for the European nation.
The Riksbank hopes to secure funding for a period of five years should its application to host the hub be successful.
While some individuals still don’t understand the role cryptocurrency has in a global economy, there are more and more signs showing how crypto is gaining a larger market share.