The Central Bank of Norway (Norges Bank) is considering introducing its own digital currency as a complement to cash. This was reported in the work release from the regulator, published on Friday, may 18, CoinTelegraph writes.
The document notes at least three possible scenarios for the use of such digital currencies: creating a credible alternative to deposits in commercial banks, a legal means of payment in addition to cash and independent backup solution for electronic payment systems.
“Reducing the use of cash forced the Bank to think that in the future might require new attributes, necessary to ensure efficient and reliable payment systems and confidence in the monetary system,” — wrote the head of Norges Bank øystein Olsen.
The premise of the creation of its own cryptocurrency due to the fact that its use by the Central Bank should not have a negative effect on the ability of banks and other financial institutions to provide loans.
Currently, Norges Bank has completed only the initial stage of the analysis necessary to create a digital currency, and says that he will continue to feed cash, yet this will require the circumstances.
We will remind, earlier with a call to consider the creation of a national digital made the Social democratic party of Switzerland.