RiskiBank, the world’s oldest central bank, has extended its launch date for the testing phase of its central bank digital currency (CBDC), e-Krona.
The e-krona project began in 2017 and testing was billed to begin this year. However, the bank said rollout plans have been shifted to next year, and it hasn’t decided yet whether to eventually use the digital currency.
Providing government-backed digital payment
The use of cash as a means of payment is gradually reducing in Sweden. The project aimed at developing a CBDC that provides a government-backed digital alternative for payments of goods and services.
Last year, the bank rolled out the plans for a one-year pilot project. The bank partnered with Accentuate to create a technical DLT-based platform with a user-friendly interface. The interface will enable e-krona payments via mobile phones, cards, and wearables. The pilot project will no longer be feasible this year, according to Riksbank.
The extension is necessary for the continuous development of technical solutions by the partners, with a focus on testing, scalability, and performance.
Read more: https://bibi.news/swedens-central-bank-extends-cbdc-pilot-launch-till-next-year/
