The previously planned release of the digital crown will not take place, — said in an official statement issued by the Central Bank of Denmark. According to experts, state of digital currency may adversely affect the financial stability of the country.
Representatives of the Central Bank of Denmark has carefully examined all the options and considered the risks, and then came to the conclusion that the existing payment solutions fully meet the needs of the Danes, and this means that the output of digital crown just makes no sense.
The “digital crown will not create any new opportunities for commodity-monetary relations and monetary policy of the country,” Reuters quoted an excerpt from the statement.
Having carefully studied how the Danes are using payment solutions, Central Bank came to the conclusion that electronic payments account for nearly 80 per cent, whereas the cash payment is only 20 percent. There are also other payment systems that allow you to quickly transfer money in and with the help of mobile applications and messengers. CB thought it was enough and made the decision to abandon e-Crown. At least not yet.
The Bank of Sweden, on the contrary, intend to abandon cash completely going to digital money. However, the final decision on full transition to e-currency will be made in the next two years.
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Danish Central Bank refused to launch digital crown
Vyacheslav Larionov