HomeCryptoNorwegian Central Bank uses Ethereum to build National Digital Currency

Norwegian Central Bank uses Ethereum to build National Digital Currency


Photo by Christian Wiediger on Unsplash

The prototype infrastructure for Norway`s Central Bank digital currency is based on Ethereum, Norges Bank officially stated .

With the publication of the open source code for the nation’s central bank digital currency (CBDC) sandbox, Norway’s central bank has achieved a significant milestone in its attempts to promote digital currencies, as reported by Cointelegraph.

The Norges Bank sandbox contains a unique frontend, relevant smart contracts, and access controls, as well as network monitoring tools.

The Ethereum cryptocurrency system is anticipated to offer a “fundamental infrastructure” for the creation, transfer, and destruction of digital central bank money, or DSP.

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