The Ethereum cryptocurrency system is expected to provide a “core infrastructure” for the issuance, distribution and destruction of digital central bank money, according to the Norges Bank.
Nahmii stressed that the current version of the code does not support the major Ethereum wallet MetaMask by design and is only privately accessible by users with appropriate credentials.
In addition to deploying the appropriate smart contracts and access controls, the Norges Bank sandbox includes a custom frontend and network monitoring tools like BlockScout and Grafana. The front end also shows a filterable summary of transactions on the network, Nahmii noted.that Norway’s CBDC prototype infrastructure is based on Ethereum technology.
The central bank previously made a reference to Ethereum in a CBDC-related blog post in May. The Norges Bankthat the Ethereum cryptocurrency system is expected to provide a “core infrastructure” for issuance, distribution and destruction of digital central bank money, which is also referred to as DSP. “The prototype will be used to test a number of the important features for DSP,” the bank said.
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