Lasse Meholm, former coordinator of phase 4 of Norges Bank's digital central bank project, does not rule out that the market may accept stablecoins long before Norway is ready to adopt digital central bank money. “In the next five to six years, an awful lot can happen. It may well be that we get a Norwegian krone stablecoin long before digital central bank money, which means that digital central bank money doesn't really matter,” says Meholm in a video interview with Kaupr.
We stress that in this interview Meholm is not speaking on behalf of Norges Bank. However, if you want to get a fact-based insight into the possibilities and choices that the central bank, politicians and Norwegian society may face, we recommend that you set aside a little half hour to catch up with your conversation with Meholm.
Meholm also has many years of experience from blockchain development and digital assets in companies such as Nordea, DNB, Ernst & Young and his own consultancy company Finansit.
According to Meholm, it may take several years, perhaps until 2030, before Digital Central Bank money in Norway is fully studied, processed and implemented. “There is an awful lot that can happen during those years,” says Meholm who does not rule out that one or more euro-based stablecoins will win out in this period and be widely accepted by the market, or that we will get a Norwegian krone stablecoin long before digital central bank money is introduced.
We begin the interview with Meholm by asking about what can justify the introduction of Digital Central Bank Money, simply a why. Towards the end of the interview, we also talk about privacy, a topic that a lot of people are concerned about in connection with government digital money.
Meholm also shares with us experiences from three tests carried out during Phase 4, such as interest calculation, identity verification and cross-border payments. In several of these areas, Norges Bank has been the first central bank in the world to test this out. Norges Bank's tests and experiences have therefore been met with great interest from other countries' central banks. In the technology testing, Norges Bank has also had valuable assistance from Norwegian technology communities such as Nahmi, Symfoni and NBX.
In the interview, we talk not only about technology, but also about political processes, business models and about what the monetary system of the future may look like. One of the questions is, among other things, whether so-called stablecoins can take even greater market share, before Norges Bank and other central banks have completed their assessment processes.
Below you can watch the full video interview:
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Lasse Meholm, former coordinator of phase 4 of Norges Bank's digital central bank project, does not rule out that the market may accept stablecoins long before Norway is ready to adopt digital central bank money. “In the next five to six years, an awful lot can happen. It may well be that we get a Norwegian krone stablecoin long before digital central bank money, which means that digital central bank money doesn't really matter,” says Meholm in a video interview with Kaupr.
We stress that in this interview Meholm is not speaking on behalf of Norges Bank. However, if you want to get a fact-based insight into the possibilities and choices that the central bank, politicians and Norwegian society may face, we recommend that you set aside a little half hour to catch up with your conversation with Meholm.
Meholm also has many years of experience from blockchain development and digital assets in companies such as Nordea, DNB, Ernst & Young and his own consultancy company Finansit.
According to Meholm, it may take several years, perhaps until 2030, before Digital Central Bank money in Norway is fully studied, processed and implemented. “There is an awful lot that can happen during those years,” says Meholm who does not rule out that one or more euro-based stablecoins will win out in this period and be widely accepted by the market, or that we will get a Norwegian krone stablecoin long before digital central bank money is introduced.
We begin the interview with Meholm by asking about what can justify the introduction of Digital Central Bank Money, simply a why. Towards the end of the interview, we also talk about privacy, a topic that a lot of people are concerned about in connection with government digital money.
Meholm also shares with us experiences from three tests carried out during Phase 4, such as interest calculation, identity verification and cross-border payments. In several of these areas, Norges Bank has been the first central bank in the world to test this out. Norges Bank's tests and experiences have therefore been met with great interest from other countries' central banks. In the technology testing, Norges Bank has also had valuable assistance from Norwegian technology communities such as Nahmi, Symfoni and NBX.
In the interview, we talk not only about technology, but also about political processes, business models and about what the monetary system of the future may look like. One of the questions is, among other things, whether so-called stablecoins can take even greater market share, before Norges Bank and other central banks have completed their assessment processes.
Below you can watch the full video interview:
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