Swedish Riksbank notes and Enskilda bank notes : lessons for digital currencies / by Ben Fung, Scott Hendry and Warren E. Weber.: FB3-5/2018-27E-PDF

"This paper examines the experience of Sweden with government bank notes and private bank notes to determine how well the Swedish experience corresponds to that of Canada and the United States. Sweden is important to study because it has had government notes in circulation for more than 350 years, and it had government notes before private bank notes. Several differences between the experience of Sweden and that of Canada and the U.S. regarding the safety of their bank notes and the need for government intervention emerge. Using the experience of the three countries, the paper concludes that fiduciary digital currencies will likewise not be perfectly safe without government intervention. Further, the introduction of government digital currency will not drive out existing private digital currencies nor will it preclude private digital currencies from entering the market. Government intervention likely will be required for private and government digital currencies to be a uniform currency"--Abstract, p. ii.

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