Sweden starts testing the digital crown

The Germany-Sweden Collaboration Days

On the background reducing the use cash in Sweden, the country’s central bank, in conjunction with Accenture, began trials of the digital krona.

The pilot project is designed for one year and will last until February 2021. The goal of the Riksbank is to create a publicly accessible, secure and efficient national payment system, which in the future can become the basis for settlements instead of traditional money. So far, however, the e-crown is being offered as an innovative addition to cash..

During the tests, the Riksbank will study the impact of the digital crown on the economy and society, as well as develop proposals for amendments to the legislation..

Sweden started developing its own CBDC back in spring 2017.

Sweden starts testing the digital crown

Despite testing the concept, the final decision on the launch of the new system is still open, and even after the tests are over, the Central Bank will continue to engage in dialogue with financial market participants, government agencies and citizens until all parties come to a common decision..

Among other leaders in this direction, China can be distinguished, where the real tests of the digital yuan began in December 2019. of the year, as well as the Marshall Islands, which launched the national digital currency Sovereign back in April last year with a fixed increase in the money supply.

text: Ivan Malichenko, photo: bwbx

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