Denmark joined the war on cash

Another European country is planning to cancel the circulation of cash. In Denmark, an increasing number of banks are beginning to question the need to print paper money. Thus, the National Bank is considering the possibility of using electronic money - so-called e-crown.
According to Lars Rohde (Lars Rohde), manager of the Central Bank of Denmark, the cash used in only 20% of transactions in the country. Since the release of the real money is associated with serious financial consequences, since 2017 Danish coins are minted in Finland. Also being sought contractor for printing paper crowns. Since the full paper money does not disappear, the central bank is considering less costly and more effective options for the continuation of their existence.
To calculate the digital currency is planned to apply "blokcheyna technology and its variations." Now the bank is considering related issues. However, they are not technological in nature.
"We have no difficulty with the technology, because Denmark is familiar with it", - emphasizes Mr. Rode.
Central Bank, the National Bank of Denmark whether it is necessary to decide whether the anonymous digital currency, has to keep track of all transactions with it? Blokcheyn - a sort of ledger, which chronologically records all transactions of electronic currency - will allow such tracking. However, it may look unworthy in the eyes of consumers.
Managing the Central Bank of Denmark says that the use of digital currency may entail risks associated with the activities of hackers. In this case, the possible cyber attacks can cause great harm to the economy.
However, there is a high probability and that the introduction of digital money will reduce crime, accompanying cash turnover, as well as reduce the costs of the transaction and to strengthen control over movement of funds.
"Using blokcheyna requires a certain level of trust between the citizens of the country and the financial body. This model is suitable for an honest relationship, developed society, "- says Lasse Birk Olesen (Lasse Birk Olesen), co-founder Coinify, supplier kriptovalyutnyh services.
According to him, in Denmark and in the rest of Europe, central banks enjoy a high level of confidence and the benefits of using digital currency impact on small micropayments and remittances, which are cheaper to manage, faster and easier to be implemented.
The Danes are not alone. Britain and Sweden "paving the way" electronic money in Europe. In Singapore, China and Canada-based digital currency blokcheyna in online payments have been tested.