Copy link
Increase text size
Decrease text size
Link copied

Swedish central bank begins CBDC pilot with Accenture

Fri, 21 Feb 2020, 10:21 am UTC

Sweden has started testing an e-krona as part of its efforts to examine the feasibility of launching a central bank digital currency (CBDC), the Riksbank announced on its website.

The central bank started the e-krona project back in 2017 as the country was moving towards becoming a cashless society.

“In the e-krona project the Riksbank has analysed the need for an e-krona. The project team has had a dialogue with several national and international agents to hear their views on an e-krona, they have looked at proposals for suitable technology and examined the legal issues that need to be dealt with to ensure the Riksbank has a clear mandate to issue an e-krona,” the announcement read.

The central bank said that it is conducting a pilot project aimed at developing a proposal for a technical solution for e-krona. The pilot is being carried out in collaboration with Accenture.

As per the details, the project aims to show in a test environment how an e-krona could be used by the general public. This technical solution will be based on Distributed Ledger Technology (DLT).

"The main aim of the pilot is for the Riksbank to increase its knowledge of a central bank-issued digital krona," the Riksbank said, adding that "there is currently no decision on issuing an e-krona, how an e-krona might be designed or what technology might be used."

The central bank said that it will continue to investigate how e-krona would affect the Swedish legislation and the Swedish economy.

The Riksbank has submitted a proposal to the Riksdag suggesting that e-krona needs to be investigated by the experts to which the latter has agreed.

Meanwhile, the Riksbank has teamed up with five other central banks and the Bank for International Settlements (BIS) to look into potential cases for CBDCs.

Meanwhile, the Central Bank of the Bahamas is planning to roll out CBDC in the second half of the fiscal year. The central bank launched the pilot phase of the “Project Sand Dollar” in Exuma in December 2019.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $9,422.48 (-0.32%)
  • Ethereum (ETH) $219.59 (+1.93%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $237.49 (+0.05%)
  • Bitcoin SV (BSV) $190.02 (-0.59%)
  • Bitcoin (BTC) $9,422.48 (-0.32%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.