World’s Most Cashless Economy Starts Testing Its Own E-Currency

Swedes already use less cash than anyone else in their daily transactions. Now, the central bank is planning a landmark test based on blockchain technology in the hope of introducing an official electronic krona.

The pilot project, which will use so-called Distributed Ledger Technology, is due to run until the end of February 2021, the bank said in a statement on Thursday. The goal is to find a “simple and user-friendly” model, it said.