Riksbank Releases Final Report on CDBC Project

The Riksbank, Sweden’s central bank, has recently published the final report on its pilot project for the digital krona. The report focuses on end-user experience and offline functionality, and the results were mixed.

In the report released on March 20, the Riksbank examined a different offline retail transaction model than the one proposed in Phase 2 of the pilot, where transaction information was stored on mobile devices.

The bank is now considering the use of a “shadow wallet” and a payment card in the online system, which were already part of the system design.

The payment card would serve as the payment instrument and track any offline changes to account balances. Four use cases were studied, including funding and defunding the payment card, offline payments using near-field communication, and offline transfers between two cards.