{"id":159183,"date":"2021-01-21T01:18:40","date_gmt":"2021-01-20T22:18:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sweden-is-working-with-dlt-for-its-cbdc-proof-of-concept\/"},"modified":"2021-01-21T01:18:40","modified_gmt":"2021-01-20T22:18:40","slug":"sweden-is-working-with-dlt-for-its-cbdc-proof-of-concept","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sweden-is-working-with-dlt-for-its-cbdc-proof-of-concept\/","title":{"rendered":"# Sweden is working with DLT for its CBDC proof-of-concept"},"content":{"rendered":"

“# Sweden is working with DLT for its CBDC proof-of-concept <\/strong>”
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Central Bank Digital Currencies, or CBDCs, were the talk of the town for many in crypto and banking in 2020, with Sweden’s prospective e-krona one of the frontrunners. Sweden\u2019s central bank, Sveriges Riksbank, is investigating distributed ledger technology<\/a>, or DLT, for its CBDC proof-of-concept, the bank\u2019s deputy governor confirmed today.\u00a0<\/p>\n

\u201cThe technology we use is the DLT called Corda,\u201d Cecilia Skingsley, the deputy governor of Sweden\u2019s central bank, said<\/a> on Wednesday during a CfC St. Moritz conference panel. She did, however, decline to turn the announcement into a full-bore advertisement for Corda:<\/p>\n

\u201cThe reason we use Corda is not that we necessarily think that Corda is the best and optimal choice for an eventual future e-krona, but when we did our procurement process, the proposal from Accenture based on Corda we found was the one that fitted our criteria the best.\u201d<\/p><\/blockquote>\n

The Riksbank teamed up with blockchain consulting outfit Accenture in late 2019 for its CBDC endeavors. The bank has put in slightly more than 12 months of work on its e-krona proof-of-concept, Skingsley noted.<\/p>\n

The nation has been working on a CBDC for years already. Last year yielded a number of headlines on Sweden\u2019s e-krona development. Back in December 2020, the country\u2019s leaders began evaluating the ramifications around introducing a CBDC.<\/p>\n

Skingsley, however, clarified that the country has not yet confirmed its decision to issue a CBDC. She said:<\/p>\n

\u201cAlthough we are exploring this issue, the Riksbank has not decided to issue an e-krona. We are still in the phase when we are investigating different options. So the Riksbank is building a proof-of-concept for an e-krona, and we are doing this in order to get a better understanding of how an e-krona could work in reality, and what trade-offs there are in choosing between different properties or functionalities.\u201d<\/p><\/blockquote>\n

The past year saw CBDC interest from many countries into what resembles a race, with China taking significant steps forward. <\/p>\n