The Riksbank designed a system using payment cards and shadow wallets, but security and accounting problems remain.
The Riksbank, Sweden’s central bank, has released its final report on its digital krona pilot project. The report looks at the experience of end-users and focuses on offline functionality. There were mixed results.
The Riksbank released its fourth and last report on the e-krona on March 20. It examined a different model for offline retail transactions from the one it had proposed in Phase 2 of the pilot. In that model, offline transaction information was held on mobile phones.
The Riksbank is now considering the use of a “shadow wallet” in the online system and a payment card (stored-value card). Both elements were already foreseen in the system design. The card would act as the payment instrument and track the offline changes to account balances.
