WILL CASH MONEY USE END IN SWEDEN?


24/02/2020




Serhat TUNAR -TDO- The Swedish Central Bank is launching a pilot program aimed at demonstrating how the new digital currency will be used by the public.

The pilot project statement of the Swedish Central Bank came after many years after announcing that it would produce its own digital currency e-crown based on blockchain technology.

The bank used the following statement Thursday: "The aim of the project is to show how to use the e-crown by the public."

It was announced that the project will be carried out in an isolated test environment with the digital technology consultant Accenture, and there is no confirmed plan for the public version of the e-crowns and the technology to be used.

The statement from the Swedish Central Bank continued as follows: "Users simulated in the test environment will be able to hold the e-crowns in their digital wallets, make payments, deposit and withdraw money via a mobile application. The user can also pay with wearable devices such as smart watches and cards."

The pilot project is expected to end in February next year.


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