7.1 
● Several Sweden banks as do not cover cash anymore.
● E-kronas would be stored in card format or the mobile app.
● Tests starts in 2019 with full implementation set to 2021.
Sweden's central bank Riksbank is pushing forward its project of issuing digital cash, e-kronas. Swedes are in line with the global trend and more often they do not use cash to make payments. According to the report, in 2016, cash payments accounted for only 15% of all trade transactions. At present, cash is not accepted in many restaurants and shops. In accordance with the current trend, it is very likely that in the near future Sweden will become a cashless country.● E-kronas would be stored in card format or the mobile app.
● Tests starts in 2019 with full implementation set to 2021.
"A register-based and a value-based e-krona are presented as two conceivable models for an e-krona. With a register-based e-krona, the balance would be stored in accounts in a central database, while a value-based solution would be more like cash is at present, as the value would be stored locally in an app or on a card.[...] The project proposes a combination of the two models, where a register-based solution is supplemented with a value-based e-krona that is primarily suited to small payments offline. The value-based solution will make the e-krona more accessible to groups that are unable or unwilling to have e-krona accounts and the solution can be further developed to meet special groups’ need for basic payment services." - The Riksbank writes in their project plan.
The bank believes that without a faster development effort, private entities may have too much responsibility in the payments sector, which could lead to problems. Specifically, they want to avoid making private institutions “take all the responsibility for ensuring that payments function in crisis situations.”
Full implementation of e-krona should be ready in 2021 with beta tests starting next year.
