With The E-Krona, Sweden Is Attacking The Virtues Bitcoin Is Built To Protect
- As they increase financial surveillance and control, Swedish authorities are inadvertently making the case for Bitcoin as an alternative.
Peter Bistoletti — May 11, 2023
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E-krona is, at present, a pilot project, testing the technical platform and the cooperation of banks, companies and end users. The e-krona will preserve several functions of cash but not anonymity. The volume of e-krona created will not be determined by mining (like it is for Bitcoin), but by the central bank. Positive or negative interest rates will also be determined by the central bank. In a deeper sense, the e-krona without a function like Bitcoin mining is merely a central database controlled by the central bank.
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IMHO, it’s the worst of all worlds.
Grab the popcorn and settle in for the show.
Where bitcoin allowed people to avoid capital controls and escape with their wealth, this will not!