New report on central bank digital currencies
An internal Norges Bank working group has recently studied the characteristics and possible impact of digital central bank currencies (CBDCs).
In Norges Bank Papers 1/2018, the working group presented an overview of factors that should be given weight in assessing whether Norges Bank should introduce a CBDC.
In Norges Bank Papers 2/2019, which is being published today, the working group discusses possible purposes of a CBDC and various solutions that can help to achieve these purposes.
In the next phase of the project, the working group will perform a more detailed assessment of the proposed solutions, the technologies they will require and their possible impact.
"Central bank digital currencies raise complex issues. We have little international experience to draw on. More information is needed for us to conclude whether the introduction of a central bank digital currency is an appropriate measure for promoting a secure and effective payment system and ensuring continued confidence in the monetary system", says Governor Øystein Olsen.