Sweden’s central bank has extended an ongoing pilot aimed at creating a digital version of the Swedish krona until 2022, as was recently announced by the nation’s Riksbank.
In combination with professional services firm Accenture, the “e-krona” pilot program was created to address what the Riksbank sees as “the marginalization of cash”:
“The Riksbank sees potential problems with the marginalisation of cash and has therefore initiated a pilot project to develop a proposal for a technical solution for a central bank digital currency, an e-krona that can work as a complement to cash.”
The recent announcement states that no decision has been made on how, or even if, the e-krona will be issued. But a brief whitepaper from 2020 details the use of R3’s Corda blockchain — a private distributed ledger created for business and enterprise. Unlike public blockchains such as Bitcoin and Ethereum, projects built on Corda will be accessible via invite only.
Central bank digital