E-krona pilot phase 1
The e-krona pilot project’s report on the first phase of the project describes in brief the technical solution tested and the legal analyses made of the solution. The report also contains an account of the overall lessons learned from the project and the next step in the work.
In this report the e-krona pilot project presents the lessons learned from the first phase of the project, including:
- The technology provides new possibilities, but requires further investigation. The technology gives the possibility to create uniquely identifiable e-kronor, but is untried when it comes to processing retail payments in the magnitude and with the safety level required by a central bank digital currency.
- Different forms of storage of tokens and keys provide different properties. The way the money is stored should ultimately be determined by which functions are given priority in the e-krona. One important question is whether the e-krona will function even without access to the internet, what is known as off-line functionality, a possibility the project has not yet tested.
- A parallel network makes the payment system more robust. A solution based on blockchain technology and tokens means that one creates an infrastructure that to a great extent functions parallel to today’s payment infrastructure.