Norwegian central bank uses Ethereum to build national digital currency
The prototype infrastructure for Norway’s central bank digital currency is based on Ethereum, the Norges Bank officially stated. The central bank of Norway has hit a major milestone in digital currency efforts, releasing the open source code for the country’s central bank digital currency (CBDC) sandbox.Available on GitHub, the sandbox is designed to offer an interface for interacting with the test network, enabling functions like minting, burning and transferring ERC-20 tokens, the Norges Bank’s official CBDC partner Nahmii said in a blog post.Nahmii stressed that the current version of....
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The Norwegian central bank aims to find a preferred CBDC solution through new technical tests. The Norwegian central bank, Norges Bank, is set to test various technical solutions for a central bank digital currency following years of research.Norges Bank officially announced Friday that it will be conducting CBDC tests over the next two years upon recommendations from an internal working group. “The working group is of the opinion that the motivation for research into CBDCs has been strengthened. Many central banks are in the process of carrying out similar research, and several are....
The Central Bank of Russia is testing a number of digital currency pilots toward the development of a national digital currency. Speaking at the 2017 St. Petersburg International Economic Forum today, deputy chairwoman of Russia’s central bank Olga Skorobogatova has, in a significant revelation, stated that the regulator is working on a national digital currency. According to a report by TASS, Russia’s largest news agency, Skorobogatova sees national cryptocurrencies as the future and claimed that it’s merely a matter of time before countries around the world adopt national digital....
The Central Bank of Chile revealed it is studying how to issue a national digital currency, the digital peso. The bank issued a report titled “Issuance of a Central Bank Digital Currency in Chile,” where it explores the possibility of the creation of a central bank digital currency (CBDC) in the future, the mechanism it might use, and how it will consult all sectors of the economy on this issue.
Central Bank of Chile Considers CBDC Issuance
More banks in Latam are considering the issuance of their own central bank digital currencies (CBDCs) to take advantage of the....
Cambodia's central bank - aptly named the National Bank of Cambodia - is refusing to recognize the ever-popular bitcoin as a currency, according to the Phnom Penh Post. The central bank's stance was reportedly confirmed on Wednesday by director-general Chea Serey: "NBC will not recognise a currency that is not issued or backed by a government. Bitcoin's issuer is not a central bank of any jurisdiction," he said. The lack of regulations surrounding the digital currency means that consumers are not protected in instances of fraud and theft, "which has proven to be a daily occurrence in the....
El Banco Central de Bolivia, the central bank of the South American nation, has officially banned any currency or coins not issued or regulated by the government, including bitcoin and a list of other cryptocurrencies including namecoin, peercoin, Quark, primecoin and feathercoin. The official policy, launched on 6th May, has recently surfaced to garner coverage from Spanish-language news source PanAm Post, and is the first announcement by the country's central bank on the subject of digital currency according to research from the US Law Library of Congress. A translation of the central....