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Norway Makes Move On Crypto Market With Its Own CBDC
The inexorable desire of the mainstream to annex the alternative sector continues. We’ve reported and blogged on this before. Digital does note mean crypto… The latest development is revealed by our friends at Finextra. Norway’s central bank has made the source code for its CBDC sandbox publicly available and confirmed that the prototype infrastructure for the project is based on Ethereum technology. Having first outlined plans to test a host of CBDC technical options last year, in May Norges Bank brought in vendor Nahmii to help with its sandbox project. Now, the open source code has been made available on …
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Central Authorities And Their Attempts To Create Crypto Lookalikes
Central banks and their governments are involved in a giant evasion tactic. The thinking is universal, and simple: to persuade investors that central bank-run digital coins, be they central bank digital currencies (CBDCs), or “stablecoins’, are really some sort fo substitute for genuine cryptos. They are not. What investors get is a form of digital bank account run by central banks. The accounts have a superficial similarity to a cryptocurrency, but are in fact totally transparent – and do not benefit from an independent algorithm asa controlling factor. Recent moves show the central bankers’ attempts to pull the wool over …