Sweden Casts Around for Potential E-Krona Suppliers
The country's central bank says it wants to understand the technical options before taking a decision on issuing a CBDC.
Apr 7, 2022 at 4:00 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/BTFU6K7SQBEEDI6HYN3AF3LFTU.jpg)
Swedish banknote and flag (Chris J. Ratcliffe/Bloomberg/Getty Images)
Sweden's central bank Thursday asked potential suppliers for a new digital krona to set out their stalls.
The Sveriges Riksbank published a request for information seeking information about what's available and how the architecture might work ahead of a potential decision on issuing its currency in digital form.
Pilot trials carried out by the Swedish authorities have used distributed ledger technology, similar to that underpinning bitcoin (BTC). In a report Wednesday the Riksbank said it wanted to explore issues like smart payments, for example, enabling transactions to be made as soon as a contract is fulfilled.
The central bank said it wants to "gain a concrete understanding of possible suppliers and technical options" that could underpin a central bank digital currency (CBDC) to be used within five or six years. It also wants to check limitations of different solutions and how they fit with the rest of the market.
The tender is open until May 13, after which a small number will be invited in to demonstrate their ideas, the central bank said.
Sweden, which is a member of the European Union, is not a member of the euro currency area.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/www.coindesk.com/resizer/VDk3MowyGg2DUxeRJFgGIHdZ6SE=/arc-photo-coindesk/arc2-prod/public/ZHFQDVVL5ZHVNGH7MTIESP35ZU.jpg)
Jack Schickler is a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He doesn’t own any crypto.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.