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By Tom Phillips[1] • Updated nfcw.com[2]

Norway’s central bank Norges Bank[3] is to test “various technical solutions for a central bank digital currency (CBDC) over the next two years”, the bank’s CBDC working group has announced in its third project report.

Norges Bank Bank of Norway logo

“Norges Bank’s research into CBDCs has run for a good four years. A new element moving ahead will be technical testing combined with further analysis of the need for and the implications of introducing a CBDC,” the bank says.

 “One of the aims of technical testing is to find a preferred solution if it becomes relevant to introduce a CBDC in Norway.

“Any introduction of a CBDC will still lie some time in the future.”

The full text of the Norges Bank CBDC working group’s third report is available online in Norwegian[4] and “an English translation will be published as soon as possible”, the bank says.

The English translation of the Norges Bank’s first CBDC report is available to download from the NFCW Knowledge Centre[5].

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currensceneFLOGO WHTsquareThough not the oldest form of currency, some form of shell money appears to have been found on almost every continent. The shell most widely used worldwide as currency was the shell of Cypraea moneta, the money cowry.

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