CBDC could work as contingency payment solution – Norges Bank

Research continues, although central bank finds CBDCs unnecessary to ensure public access to secure means of payment

Electronic payments
New study: Norges Bank is not sold on the need to adopt a legal tender equivalent to cash

A central bank digital currency (CBDC) could function as a back-up solution in case of a bank payment system failure, but more information is needed before it can be introduced as an appropriate means for maintaining confidence in the monetary system, according to a new study by Norges Bank.

The working group exploring whether Norway’s central bank should introduce a CBDC thinks the perspective of a digital form of central bank money being used as part of a contingency plan may grow in

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