Rafkrona
ResearchIceland
Central Bank(s)
Central Bank of Iceland
Announcement Year
2018
Status
Research
Retail/Wholesale
Retail
Structure
Account/Token
Determining the value of physical cash, comparing existing fintech solutions, and how a CBDC would affect the various stakeholders in Iceland's financial ecosystem.
When a pseudonymous founder released Auroracoin as the "unofficial national digital currency of Iceland" in 2014, the Central Bank of Iceland warned that it was not a recognized currency. The Central Bank of Iceland released an interim research report for issuance of a CBDC, Rafkrona, in 2018, noting that it "does not recommend that the rafkrona be introduced, and no decisions have been taken on the matter. Discussions with stakeholders lie ahead, as do further analysis and assessments of the pros and cons of issuing a rafkrona."
Link to announcement
Last update: January 2018
January 2018
None → Research
Announcement Year: 2018
Retail/Wholesale: Retail
Structure: Account/Token
Description: When a pseudonymous founder released Auroracoin as the "unofficial national digital currency of Iceland" in 2014, the Central Bank of Iceland warned that it was not a recognized currency. The Central Bank of Iceland released an interim research report for issuance of a CBDC, Rafkrona, in 2018, noting that it "does not recommend that the rafkrona be introduced, and no decisions have been taken on the matter. Discussions with stakeholders lie ahead, as do further analysis and assessments of the pros and cons of issuing a rafkrona."
Main motivation/goals of the CBDC: Determining the value of physical cash, comparing existing fintech solutions, and how a CBDC would affect the various stakeholders in Iceland's financial ecosystem.
Link to announcement: www.cb.is
Country / Region: Iceland
Central Bank(s): Central Bank of Iceland
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