Swedish Central Bank Releases the First Study About Its CBDC E-Krona Pilot
The Swedish central bank keeps making steps towards modeling its e-krona pilot project by issuing a detailed report of the results of phase one for the path ahead. Riksbank is still optimistic about launching its central bank digital currency (CBDC), but there are hurdles to clear out on the road. Riksbank to Spend Another Year Exploring Solutions for the Pilot According to the report named “E-krona pilot phase 1,” the central bank highlighted that cash usage in Sweden is “declining.” That said, Riksbank sees potential problems arising from the decline in cash and....
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The Swedish CBDC is now technically ready for integration with banks and payment service providers, according to a report from Riksbank. The Swedish central bank’s digital currency project, a proposed CBDC, known as the e-krona has successfully finished its second phase of trials. According to Riksbank, the nation's central bank, the asset is now technically ready to be integrated into banking networks and facilitate transactions. During the second phase of the e-krona pilot project — which began in February 2021 — the CBDC was investigated on the matter of its technical ability to....
The Sveriges Riksbank said that CBDC technology still requires further investigation. After completing the first phase of its digital currency pilot project, Sveriges Riksbank has found some critical issues that must be addressed before Stockholmers can buy coffee and kanelbullar with e-krona.In a recent study, Sweden’s central bank presented the first results of its central bank digital currency pilot on a network based on R3’s Corda blockchain.The Riksbank simulated core aspects of a potential CBDC system, including liquidity supply via the Riksbank’s settlement system, RIX, and network....
Sweden will trial its CBDC with a live banking participant. The experimentation will involve participation between Riksbank and Handelsbanken, a retail bank chain based in Sweden. Sweden has made a number of strides toward its own central bank digital currency, or CBDC, called the e-krona. The Sveriges Riksbank, the country’s central bank, now looks to experiment with the asset using a non-simulated party. As reported by Reuters, Riksbank detailed on Friday via a statement: “The e-krona pilot is therefore moving on from only having simulated participants to cooperation with external....
Sweden is examining risks and consequences of moving its economy to its e-krona digital currency. The Swedish government is progressing with its central bank digital currency, or CBDC, by launching a formal review of a potential transition to the digital currency.According to a Dec. 11 Bloomberg report, the review will explore the feasibility of moving the country's payments infrastructure to a digital currency. The country features one of the most cashless economies in the world.Per Bolund, Sweden’s financial markets minister, reportedly said that the government expects to complete the....
Sweden's exploration into CBDCs will continue until 2022, as the nation's central bank seeks to construct a digital version of the krona. 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....