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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.
Updated May 11, 2023, 5:07 p.m. Published Apr 7, 2022, 4:00 p.m.
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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.
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Pilot trials carried out by the Swedish authorities have used distributed ledger technology, similar to that underpinning bitcoin . 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.
Read more: Sweden Wants to Test E-Krona Viability for Smart Payments
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