RiskiBank, the oldest central bank in the world, has extended its start date for the test phase of its digital central bank currency (CBDC) e-Krona.
The e-krona project started in 2017 and testing should start this year. However, the bank said the rollout plans have been postponed until next year and it has not yet decided whether to ultimately use digital currency.
Provision of state-supported digital payments
The use of cash as a means of payment is gradually decreasing in Sweden. The project aimed to develop a CBDC that would provide a government-sponsored digital alternative for paying for goods and services.
Last year the bank implemented plans for a one-year pilot project. The bank has partnered with Accentuate to create a technical DLT-based platform with a user-friendly interface. The interface enables e-kroner payments via cell phones, cards and wearables. According to Riksbank, the pilot project will no longer be feasible this year.
The expansion is required for the partners’ continued development of technical solutions, with an emphasis on testing, scalability and performance.