Sweden's central bank mulls trial of e-currency

Source: Xinhua| 2018-10-26 23:15:57|Editor: yan
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STOCKHOLM, Oct. 26 (Xinhua) -- Riksbanken, the central bank of Sweden, said on Friday that an e-krona should be developed and put on trial for a period.

"The next step in the Riksbank's work on the e-krona should be to build an e-krona to learn more and test which solutions are viable and possible to realize," said Eva Julin, project manager of the Riksbank's e-krona project, in a press release on Friday.

A technical solution would provide the Riksbank with greater knowledge prior to a decision on whether or not to issue an e-krona.

The Riksbank has provided the general public with money for 350 years, but as the use of cash is continuing to decline in Sweden, we need to think in new ways, said the press release.

In response to this, the Riksbank started a project in the spring of 2017 to examine the scope for the issuance of a central bank digital currency (CBDC), so-called e-krona, according to the press release.

Although introduction of the e-krona still takes time, the press release said the analysis work needs to continue to increase the Riksbank's knowledge of the consequences of the e-currency and the required technological solutions.