The Central Bank of Sweden published the results of the third phase of testing the digital crown – Bits Media

Central Bank of Sweden, Riksbank, published a report on the results of the third stage of experiments with state stablecoin, where the main attention is paid to the issues of its management and programmability.

RIKSBANK researchers have noted, that the digital crown should function based on distributed registry technology (DLT). This will ensure the programmability of the digital currency of the Central Bank, thanks to which it can be used for payments and calculations.

There are several design options for a controlled digital Swedish crown, each of which has its advantages and disadvantages. CBDC with a low level of management will contribute to healthy competition between participants in the financial system, However, their implementation at a wide level will be difficult. And vice versa, A digital crown with a high level of control will provide standard services for the population, but at the same time it can suppress competition and development of innovation, RIKSBANK experts noted.

“We need to discuss in more detail the introduction of a digital crown with participants in the payment market, who can use it in the future. This will allow you to find a stable balance between the general tasks of state stablecoin and the needs of the general public ”, - indicated in the document of the Central Bank of Sweden.

In the third stage of CBDC testing, the Bank of International Settlements took part (TO). Experiments were conducted as part of the Icebreaker project, During which Riksbank also collaborated with the central banks of Israel and Norway.

The Central Bank of Sweden expands the possibility of launching its own digital currency from 2020 of the year, Launching blockchain -based pilot projects R3 Corda. However, the regulator is still refraining to give an accurate answer, Will he launch a digital crown in the future. Recently top manager Riksbank Mitra Sanberg (Mithra Sunberg) stated, that the government is not going to monitor users of the digital crown and control, What they spend money on.