- Sveriges Riksbank(or simply the Riksbank), the central bank of Sweden, had begun testing its digital version of currency, e-krona. If this year-long pilot project successful, this would lead to the creation of world’s 1st central bank digital currency (CBDC).
- The pilot project, will be in operation for one year, until February 2021, will use distributed ledger technology inspired by the block chains that operates crypto currencies.
- The digital currency e-krona will be used to simulate day-to-day banking functions like payments from a digital wallet such as a mobile phone application.
About SverigesRiksbank:
- Headquarters– Stockholm, Sweden
- Established– 1668
