The Swedes are learning that their once pioneering vision for a central bank digital currency might take a lot longer to enact than initially thought. The Riksbank just published the results of the first phase of a pilot project into what is essentially the most advanced exploration of a post-cash era to be undertaken by a major, western economy. It says the rapid pace at which cash is disappearing presents “potential problems” that a digital currency controlled by a central bank can address. The task is huge and Sweden’s central bank, the world’s oldest, keeps pushing back its timeline. After once suggesting it ... (full story)