“The technical solution is based on Distributed Ledger Technology (DLT), a form of blockchain technology. The e-kronas in the tested solution are represented by digital units of value, known as tokens, in a distributed network based on a type of blockchain technology on the company R3’s Corda platform. The solution is based on it only being possible for e-kronas to be created and destroyed by the Riksbank – like physical cash. The e-kronas are distributed to Riksbank-approved participants in the e-krona network, such as banks, that run their own nodes with the possibility of ordering and distributing e-kronas to the general public.”

e-Krona

Hanna Armelius at the Sveriges Riksbank explained the following – 

  1. Cash is in steep decline Sweden (many stores refuse to accept it).
  2. Pilot solutions for CBDC working now.
  3. Parliament is considering the legality of CBDCs.

The technical solution has involved R3.

 

 

 

By cryptorocks_editor

Editor.