The central bank of Sweden works to find a suitable and beneficial application of blockchain technology for the central bank and for the people of Sweden.
Around the world governments and corporations are fighting to keep up with new technological breakthroughs, blockchain is just one of those technologies but it could be the most disruptive technology the global financial system has experienced since the introduction of the bank note.
From Venezuela to Latvia, financial and government institutions are rallying around this new technology in hope of harnessing its wide reaching and socially impactful potential.
In the Ekrona documentary film, we follow one such institution; the central bank of Sweden – Sveriges Riksbank, as they work to find a suitable and beneficial application of blockchain technology for the central bank and for the people of Sweden.
Established by Dutch-Latvian Johan Palmstruch in 1668, Sveriges Riksbank is often considered by many as the world’s oldest central bank. It is this legacy back story that makes even the consideration of an Ekrona by the Riksbank highly anticipated by many both familiar with Blockchain technology and those that use the Swedish krona every day.
Basic Story Structure
Our story begins with a young Swedish entrepreneur in 2015
It is understood through preliminary research conducted by the production team that the Sveriges Riksbank became aware of the Ekrona concept in the spring of 2016 when the idea was first brought to the attention of Riksbanken by a young Swedish entrepreneur named Christian Ander.
Although accompanied by an employee of one of the major Swedish banks at the time, Christian recounts how the idea of the Ekrona currency that he presented was not so popular with Riksbanken staff at the time.
Our story will also highlight the methods applied by other countries 2016 – 2017
In addition to the focus on the Riksbank, the film will also highlight the approaches being made by other governments and institutions around the world trying to apply the same technology. To date there are numerous governments and institutions both launching and researching their own projects. We will present the spectrum of reasons and applications to why and how these other countries are doing so.
Our story is then brought in to the present day 2018 – 2019
After a couple of years the Sveriges Riksbank started to research the technology which resulted in inviting blockchain technology solution proposals from companies both large and small from across the world; for a little known project (even among the Swedish people) called The Ekrona Project.
These early meetings have served to provide the Riksbank with more in-depth knowledge regarding the technical solutions that are currently available or will soon be available.
Our story will also show a select few of the proposals for the Ekrona 2018
To date The Riksbank has received 33 proposals for technical solutions for the e-krona, all of the proposals received have been evaluated and the companies with the proposals that have been assessed as most interesting at this stage have been invited to a meeting for a dialogue.
The project has started and aims to investigate the legal and technical conditions for the Riksbank to be able to issue an e-krona. It will also entail integrity issues and how an e-krona could be made available to the general public. The inquiry is expected to be finalised in late 2019.
The concluding of our story will depend on the outcome of the Ekrona project itself which should be made apparent by the end of 2019 according to Riksbanken.
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