“In line with the recommendations of an internal working group, Norges Bank will test various technical solutions for a central bank digital currency (CBDC) over the next two years.”  Norges Bank

Norges Bank

Norway is one of the richest economies in the world by capita, and GDP per capita was 75K USD in 2019 as reported by the World Bank.

The interest of the Norges Bank is well established and an official statement, made in 2021, the central bank will test CBDC solutions over a two year period.

The Norges Bank has clearly understood the need to digitalize and Deputy Governor Ida Wolden Bache stated in 2021 – 

Innovative technology is paving the way for new and improved financial services, while competition among financial service providers is intensifying. In a digital world, location and national borders become less important.

Vipps is widely used in Norway with almost 80% adoption by payers. 

When CBDCs are fully operational, Norway will most likely fully adopt these emerging new infrastructures which combine technology, finance, and legal reforms.

 

 

By cryptorocks_editor

Editor.