November 27, 2022

Bank of Sweden Develops Digital Crown Platform

The Central Bank of Sweden will sign an agreement with consulting firm Accenture to launch a pilot platforms for digital crown (e-krona), reports Reuters.

“The main goal of the pilot project is to expand the bank’s understanding of e-krona’s technological capabilities”- said the representatives of the monetary regulator.

Sweden is characterized by a rapid decline in sharecash in settlements. Since 2016, the country's Central Bank has been exploring the possibility of issuing its own digital currency, designed to become an effective and safe means of payment.

Interest in the digital crown resumed soonafter the launch of the digital currency project from the largest social network Facebook. In particular, in October this year, the head of the Bank of Sweden Stefan Ingves said that Libra pushed the central banks to reform their work. Then he emphasized that his department continues to work on the digital crown.