CBDCs could protect citizens from e-currency abuse, official says
Citizens in cashless societies could be vulnerable to monopoly power, says Sveriges Riksbank official
Central banks need to consider issuing digital currencies or leave citizens vulnerable to market power, said a senior adviser at the Sveriges Riksbank.
Cashless societies could leave payment systems vulnerable to “increasing monopoly power … if there’s no sort of competition from central bank money”, said Hanna Armelius of the Swedish central bank.
In 2018, only 13% of Swedes reported having paid for their last purchase in cash – down from 39% in 2010. That provided strong arguments for
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