This trend towards a cashless society could ultimately “make society vulnerable” in that the payment market would be concentrated among a small number of private participants, it was suggested. This development is unique from an international perspective,” a communiqué from the world's oldest central bank stated. In the long run, this concentration could “restrain competitiveness” in the market and make society vulnerable”, according to the central bank. Their report added that the development towards an “almost cashless society” also entails households having little opportunity to save and pay with risk-free central bank money. However, the Swedish central bank said it has not yet taken any decision on issuing an e-krona.

Source: Forbes September 26, 2017 16:18 UTC