Kopylov D.A.Published in:
Journal of International Economic Affairs
– Volume 8, Number 4 (October-December 2018)

JEL classification: F31, F33, F39

Keywords: cryptocurrency, cryptoruble, digital currency, electronic money, tokenization


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Abstract:

Sweden’s Riksbank is planning to introduce a new state e-currency. This country has a developed financial system and is open for innovations. The central bank considers legal effects and technological constraints before making decision on issuing a simultaneously circulating digital currency. Staggering upswing in cryptocurrencies’ popularity all over the world and falling demand for cash payments in Sweden act as a boost for Riksbank’s efforts. The author conducts SWOT-analysis of national digital currency as an innovative project and establishes link between e-krona and Russia’s ideas to implement the cryptoruble. Overall, digital transformation of national currency is akin to tokenization. Sweden addresses the issue bit-by-bit, and Russia is advised to follow suit.

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