If the Swedish payment system were to become dominated by private crypto-currencies or by something other than Swedish kronor, domestic monetary policy would be marginalised. The ongoing Riksbank Inquiry has examined the matter of cash in a so-called fast track and a few proposals on access to cash services have been produced. This could contribute to slowing down the trend of decreasing cash usage. However, there are indications that that the latter is mainly a consequence of reduced demand for cash. 30 I hope that the Riksbank Inquiry, in its final report, will put forward further proposals for the long term protection of Swedish kronor issued by the Riksbank, whichever form these may take, physical or digital. New legislation,  30 For an analysis of this development, see “Times are changing and so are payment patterns”. Guibourg, G. and Erlandsson, F. Economic Commentary No. 6 2018. Sveriges Riksbank. 12 [15]  strengthening the protection for Swedish kronor, should be technologically neutral to allow for a future totally dominated by electronic money. I would like to be clear that, as yet, we are only at the start of the analysis of the e-krona. Last autumn, we presented a few preliminary conclusions and, at the end of this year, we will decide whether and, if so, how we will proceed with the next stage of the project. Neither are we alone in the central banking world in considering this.
Norman T L Chan: Remarks for TraHK 10th Anniversary Remarks by Mr Norman T L Chan, SBS, JP, Chief Executive of the Hong Kong Monetary Authority, at the TraHK 10th Anniversary Gathering Celebration/Reception, Hong Kong, 12 November 2009. *  *  *  Good afternoon ladies and gentlemen. I am delighted to be here today on the 10th anniversary of the listing of the Tracker Fund of Hong Kong and to see so many familiar faces from the original project team. Thank you State Street for organizing this timely get-together. A decade has come and gone since we created Tracker. We’ve seen another crisis and a whole raft of intervention measures by governments, some of which are of unprecedented scale. Now the focus is turning to "exit strategies" and, looking back ten years' on, I think we can all take some collective pride in having been part of one of the most innovative, and dare I say elegant, exit strategies. The strategy, of course, was to dispose of the stocks acquired by the Government in the stock market operations of the summer of 1998 with minimal disruption to the market. This was by no means a small task – but together we rose to the challenge with an exit strategy that saw us launch the first ETF in Asia ex-Japan, in a public offering which turned out to be the largest in Asia ex-Japan at the time of launch, raising $ billion from over 180,000 retail investors and institutions.