The Central Bank of Sweden will launch a pilot project of national cryptocurrency

Sweden's central bank Riksbank will sign an agreement with consulting company Accenture for the supply of technologyfor the e-krona pilot project.

The Riksbank launched a project to explore the possibility of creating a central bank digital currency (CBDC) back in the spring of 2017. 

Now the bank says it’s ready to start withAccenture is a joint annual pilot project, within the framework of which a technical platform with a convenient user interface for electronic payments from cards, mobile phones and other devices will be developed. Functionality of e-krona will be focused on the end consumer and tested in the "retail simulator".

Partnership is initially designed for up to 31December 2020, however, if Riksbank is satisfied with the results and decides to continue working on digital currency, the contract can be extended for another seven years. Bank representatives emphasized that the issue of electronic crown is still in doubt.

It is worth noting that some scammers in Sweden took advantage of the lack of a clear position of the bank and began selling fake digital national currency back in January 2019.