27th July 2021
The transition to digital money will probably be tough for the Danish banks
The Danish banking is facing huge pressure in the coming years due to the explosion in financial services, which originates in cryptocurrencies.
The new form of payment will create greater competition for customers and cutting the benefits from banks . This makes larger tech companies started to make bank-like initiatives.
According to the experts , the central banks will soon start issuing their own digital money.
and China is expected to start next year , both Europe and US will follow the steps .
The European Central Bank and the British Bank of England has a longer thought on this ,
while the Danmarks Nationalbank Governor Lars Rohde said “there are no plans to introduce digital kroner just yet.”