The Norwegian central bank is considering whether Bitcoin SV (BSV) could be a viable solution for their central bank digital currency, with BSV mentioned in a report on the technical options available to the bank.

In one of the most important indicators of the central bank’s global interest in BSV to date, the Norwegian Central Bank stated that some BSV had viewed it as the preferred solution for a DLT technology.

On page 42 of the research paper, the bank said Bitcoin SV was one of the blockchains under consideration, with the platform being regularly suggested by industry experts as a viable option.

“Many of the actors have spoken out in favor of solutions that are wholly or partially based on DLT technology. Some have argued that DSP can be added as a program (“smart contract”) to an open blockchain like Ethereum or Bitcoin SV, while others have recommended using private variants of the open blockchains like Ethereum or Bitcoin. “Some stakeholders also have views on how to put in place consensus mechanisms that open up to allow more players to participate in the validation of transactions while Norges Bank remains in control.”

Stephan Nilsson, founder and CEO of UNISOT, said the report identified the key features of its preferred CBDC system, all of which are best met by Bitcoin SV.

“It is clear from the report that a CDBC solution“ must conform to the principles of a good IT architecture ”- ie the technology used must have the following characteristics: security, capacity, availability, interoperability. You also mention the offline functionality [and] Flexibility. These are all trademarks of #BitcoinSV. “

The news is likely to encourage other central banks to evaluate the merits of Bitcoin SV as a solution for powering distributed ledger technology. The bank is expected to continue reviewing its options, with Bitcoin SV likely to be high on the agenda.

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