Author: Wolfie Zhao / Source: CoinDesk
Norway’s central bank is preparing for a future in which it might issue a digital currency amid a slump in cash usage in the country.
Looking into the possibility, a working group at Norges Bank has released a report titled “Central Bank Digital Currencies,” which explains that, as citizens turn away from physical forms of money, the bank must consider “a number of new attributes that are important for ensuring an efficient and robust payment system.”
Already, the country’s DNB bank has stopped handling cash, with Trond Bentestuen, group executive vice president of wealth management and insurance at the bank, telling local media as far back as 2016, that only 6 percent of Norwegians use cash on a daily basis.
Further, Jon Nicolaisen, deputy governor of Norges Bank, stated in a speech last April that the role of cash “continues to diminish” as consumers move towards electronic payments, adding that “For many consumers, electronic central bank money could provide an…