{"id":31467,"date":"2020-11-09T15:39:32","date_gmt":"2020-11-09T13:39:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31467"},"modified":"2025-08-28T03:50:35","modified_gmt":"2025-08-28T00:50:35","slug":"norways-central-bank-sees-no-urgent-need-to-launch-a-cbdc","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/norways-central-bank-sees-no-urgent-need-to-launch-a-cbdc\/","title":{"rendered":"Norway&#8217;s central bank sees no urgent need to launch a CBDC"},"content":{"rendered":"<p>Declining popularity of cash does not justify a full and urgent shift to central bank digital currencies (CBDCs). Deputy Governor Ida Wolden Bache said.<\/p>\n<p><!--more--><\/p>\n<p>In her estimation, only 4% of payments are made using cash. Despite low demand, they play an important role in society: they remain a reserve and legal means of payment.<\/p>\n<blockquote>\n<p>\u201cThe question is whether something important will be lost if cash disappears and we do not introduce a CBDC,\u201d Bache noted.<\/p>\n<\/blockquote>\n<p>The central bank official said that the introduction of a digital currency has significant implications, so the central bank&#8217;s decision &#8220;must be well justified.&#8221; Bache also urged taking into account &#8220;structural changes&#8221; in the banks&#8217; payment infrastructure and the challenges of &#8220;other forms of money,&#8221; such as the Libra stablecoin.<\/p>\n<blockquote>\n<p>\u201cWe must understand what impact these changes will have on competition, handling unforeseen situations, and the management of the national payment system,\u201d Bache emphasised.<\/p>\n<\/blockquote>\n<p style=\"margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\"><a style=\"text-decoration: underline;\" title=\"View r201106i on Scribd\" href=\"https:\/\/www.scribd.com\/document\/483529582\/r201106i#from_embed\">r201106i<\/a> by <a style=\"text-decoration: underline;\" title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\"lazy\" id=\"doc_28628\" class=\"scribd_iframe_embed\" title=\"r201106i\" src=\"https:\/\/ru.scribd.com\/embeds\/483529582\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-2FTU2G9KKM3eRbl1gIyS\" width=\"100%\" height=\"600\" frameborder=\"0\" scrolling=\"no\" data-auto-height=\"false\" data-aspect-ratio=\"0.7068965517241379\"><\/iframe><\/p>\n<p>The Norwegian regulator began considering the creation of its own digital currency in 2018. At that time, three possible CBDC use cases were studied: as an alternative to deposits, a legal complement to cash, and an independent reserve.<\/p>\n<p>Earlier, representatives of BIS and several central banks <a href=\"https:\/\/u1f987.com\/en\/news\/group-of-central-banks-says-full-anonymity-for-cbdcs-is-unacceptable\">excluded<\/a> full anonymity of CBDCs. This stance drew criticism from experts.<\/p>\n<p>Subscribe to the ForkLog channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Declining popularity of cash does not justify a full and urgent shift to central bank digital currencies (CBDCs). Deputy Governor Ida Wolden Bache said.<\/p>\n","protected":false},"author":1,"featured_media":31468,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,1498],"class_list":["post-31467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-norway"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31467"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31467\/revisions"}],"predecessor-version":[{"id":31469,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31467\/revisions\/31469"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31468"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}