The governor of Sweden’s central bank has issued a five-year time frame within which he expects the country to have a central bank digital currency.
The main obstacle encountered during the trial was scalability, which it identified as a potential bottleneck to adoption, according to Riksbank.
A trial of Sweden’s e-krona will be extended for another year to 2021, in a bid to better understand the benefits and implications of a wider roll-out.
Swedish bankers are weighing up the risks of a digital currency to their deposit base, as plans for the rollout of an e-krona continue at pace.
The review will reportedly take two years, with the results expected to dictate the way forward for the European nation.
The 98-page document discusses Riksbank’s plans for e-krona, the Swedish central bank’s issued fiat token.