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Norway is using the Ethereum chain to create their "national digital currency

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by COINS NEWS 142 Views

Norway is using the Ethereum chain to create their "national digital currency"
Norway's central bank "Norges" has officially announced that they are building a digital currency prototype infrastructure based on the Ethereum chain.
Norway's central bank has reached a major milestone in its efforts to create a digital currency framework. The country's central bank has released its open source code for the digital currency (CBDC) sandbox.
The developers have published the complete design on GitHub to interface the sandbox with the test network and offer an interface.

Norges Bank's official CBDC partner Nahmi said in a blog post.
We are working on creating a digital currency framework, based on the Ethereum chain. Because, in ERC-20 tokens, there are enabled functions like minting, burning and transferring.

Nahmi further pointed out that.
By design, the current version of their code, the main Ethereum wallet, does not support MetaMask and is only accessible privately, only by users with appropriate certificates.

This is very good news that will encourage other countries to create such digital currencies.

submitted by /u/WarriorNysty
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