Blockchain Lures Central Banks as Danes Consider Minting E-Krone
- Central bank governor says technology already exists to do it
- Only 20% of Denmark’s transactions are executed using cash
The central bank of Denmark stands in Copenhagen.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
There’s a growing number of central banks questioning the point of printing paper money.
In Denmark, the wardens of cash are now looking into producing a virtual currency instead, which they predict will make crime harder and oversight easier. The Danes aren’t alone. Britain and Sweden are blazing a trail in Europe. Singapore and Canada have already tested blockchain-based currency systems for Internet payments.