Blockchain Sweden: A key player in Sweden’s digital future

Blockchain - a technology for transparency, security, and decentralization - is more than just a buzzword. It’s the future! In Sweden, the industry organization Blockchain Sweden has taken on the task of advancing this technology and fostering a strong, innovative environment for blockchain development.

To learn more about their work, we spoke with Erik Vesterlund, COO at BTCX and co-founder of Blockchain Sweden. He shared insights into why the organization was founded, Sweden’s position on the global stage, and his personal views on Bitcoin.

Why was Blockchain Sweden founded, and what are its goals?

When Blockchain Sweden was established, the vision was clear: to bring together companies, academia, and the public sector to promote blockchain and Web3 in Sweden. However, Erik highlights significant challenges:

We see that Bitcoin and blockchain have immense potential, but Sweden lacked a unified voice to drive development forward. We wanted to change that! Blockchain Sweden was created to educate, influence, and drive innovation.

He describes a time when Sweden had all the prerequisites to become a pioneer in fintech and blockchain. Instead, the country has fallen behind:

Twelve years ago, we had everything needed to lead the development. Fast forward to today, and we rank among the last in Europe. We’re behind Poland, the Baltic countries, and the Czech Republic. Countries we traditionally considered technologically inferior have now outpaced us. Sweden needs to wake up - we can’t continue lagging behind while other nations build the economic infrastructure of the future

How does Sweden compare in the clobal blockchain industry?

Despite Sweden’s strong fintech sector and forward-thinking digital landscape, Erik points to the lack of political action as a bottleneck:

Sweden has a strong fintech sector and digital mindset, but we risk falling behind. We need the right conditions - regulations, education, and more understanding from authorities. Without these, it will be hard to compete globally.

But Sweden also has strengths, he notes:

There is great potential for Swedish startups and entrepreneurs to drive innovation in digital assets and decentralized solutions. We have an educated population and skilled entrepreneurs. But for them to succeed, both politicians and institutions must provide the support this technology needs.

What are your personal views on Bitcoin’s future role?

When discussing Bitcoin, Erik is optimistic. He sees Bitcoin as a cornerstone of the decentralized economy:

I see Bitcoin as digital gold - an asset that can serve as a safeguard when trust in central institutions generally declines. Moreover, Bitcoin is an important symbol of economic freedom and decentralization.

He predicts a growing global role for Bitcoin:

Bitcoin may not replace traditional currencies, but it will play a vital role as a global reserve asset. And the more people understand its potential, the stronger the ecosystem will become. I would be very surprised if we don’t see Bitcoin on the balance sheets of G20 central banks within the next 10 years.

Building Sweden’s blockchain future together

Blockchain Sweden is a key player in Sweden’s digital development. To ensure we don’t fall further behind, collaboration, clearer regulations, and greater engagement from all stakeholders - businesses, politicians, and decision-makers - are essential. This is not just about technology; it’s about shaping the future!