{"id":140542,"date":"2024-10-25T13:30:13","date_gmt":"2024-10-25T10:30:13","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140542"},"modified":"2024-10-25T01:55:43","modified_gmt":"2024-10-24T22:55:43","slug":"norways-central-bank-set-to-decide-on-cbdc-implementation-next-year","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/norways-central-bank-set-to-decide-on-cbdc-implementation-next-year\/","title":{"rendered":"Norway&#8217;s Central Bank Set to Decide on CBDC Implementation Next Year"},"content":{"rendered":"<p>Deputy Governor Pal Longva <strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-10-23\/norway-s-central-bank-on-track-to-deliver-cbdc-recommendation-by-end-2025?srnd=phx-crypto\" target=\"_blank\" rel=\"nofollow\">stated<\/a> <\/strong>that the bank is working on finalizing a recommendation but is not rushing the process. While other European nations like Switzerland advance their digital currency projects, Norway is adopting a cautious approach, carefully evaluating the complexities involved.<\/p>\n<p>Norges Bank is considering two CBDC models: a retail version for consumer transactions and a wholesale version for interbank transactions, with a current focus on the latter due to its perceived ease of implementation.<\/p>\n<p>Research suggests that a wholesale CBDC is more likely to be introduced within six years compared to a retail counterpart.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/mashinsky-faces-court-as-motion-to-dismiss-charges-is-considered\/\" title=\"Mashinsky Faces Court as Motion to Dismiss Charges Is Considered\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/06\/alex-mashinsky.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Mashinsky Faces Court as Motion to Dismiss Charges Is Considered<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Norway is already one of the world\u2019s most cashless societies, with 98% of its population using debit cards and over 95% relying on mobile payments.<\/p>\n<p>Despite the decline in cash use, it has stabilized at low levels. Norges Bank is assessing the implications of a CBDC, particularly concerning privacy and its impact on the banking sector, with a recommendation expected by 2025 after further studies and consultations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Next year, Norges Bank, Norway&#8217;s central bank, will decide on the potential establishment of its own central bank digital currency (CBDC).<\/p>\n","protected":false},"author":9,"featured_media":38114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22,28],"tags":[],"class_list":["post-140542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","category-fintech"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Norway&#039;s Central Bank Set 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