TIL: During the free-banking era in Sweden (1830 – 1902), where private banks issued their own currencies, only a single bank failed due to fraud.

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Also pretty interesting is that the free banking era in Sweden started gained popular support in response to a bank crisis in 1857. Much like how Bitcoin is a response to the 2009 bank crisis. If the article embedded in the genesis block is anything to go by.

Sources: https://mises.org/library/free-banking-sweden-1830%E2%80%931903-experience-and-debate

https://en.wikipedia.org/wiki/Free_banking

submitted by /u/Anderol
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