The main purpose of the partnership is to produce an understanding of how an e-krona could function in a test environment?
Riksbank to pilot e-krona. Source: flickr.com
The Riksbank enters into an agreement with Accenture, a consulting company, to launch the e-krona project. The e-krona pilot project aims to expand the bank’s understanding of the technological possibilities for the electronic currency.
During the first year of the e-krona project, a technical platform will be developed so that users could pay with the e-krona from a mobile phone, a card, and a watch. Simulations of payment service providers, retail outlets, and other parts of the Swedish payment system will also be included in the platform.
The pilot project will run to 31 December 2020, with a possibility for an extension. This way, the total maximum period of agreement will be 7 years. In case the Riksbank extends the e-krona pilot project, the e-krona will be further developed with increased functions and further tests. Yet, the Riksbank has not decided to issue an e-krona.
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