The Central American country introduced Bitcoin as the official currency on Tuesday.
President Nayib Bukeles hopes that the country will be at the forefront of the world of cryptocurrencies.
- One may ask what it does for the benefit of the inhabitants in everyday life.
According to a survey, five percent say they do not even know what Bitcoin is.
It is also a currency that fluctuates a lot.
From being up to 60,000, it dropped to 10,000 dollars, says Alexander Norén.
Support for the introduction of cryptocurrency is not high.
A lot of it is because you do not know what this will mean for the country's economy.
- A majority do not even want this.
The president himself tweeted that there may be an uphill climb.
But just like with all technological innovations, everyone will learn and absorb, says Alexander Norén.
Entices with money
The idea is to place ATMs where you can exchange Bitcoins for US dollars and withdraw cash.
To encourage citizens to adopt the new payment method, the government will give a start-up bonus.
Everyone who opens an electronic wallet receives a deposit of approximately SEK 250.
- A significant difference is that one can describe cryptocurrency as private money and traditional currency, such as the krona or dollar, as state centrally controlled money.
There is a Governor of the Riksbank who can sit with the interest rate wheel and pull up or down.
While cryptocurrency is completely private.
The only thing that really governs is a protocol that once created the cryptocurrency, says Alexander Norén.
The US dollar introduced in 2001 will continue to remain in the country.
The country has no currency of its own.