Norway to Use Ethereum Blockchain for Government Register

According to a series of Tweets, the Norwegian government will dip its toes into leveraging blockchain technology.

As shared in the Tweets, the Norwegian government will be utilizing Ethereum via Arbitrum for cap tables of private firms.

The Brønnøysund Register Center held a conference last week where they provided insight into the Brønnøysund Register’s ecosystem for ownership information, a completely new blockchain-based distribution service. 

The Brønnøysund Register Center is a Norwegian government agency that is responsible for the management of numerous public registers for Norway, and governmental systems for the digital exchange of information.

Arbitrum is a  layer 2 service for Ethereum dApps that has been created by Offchain Labs.

On another front, this past May, the Norwegian Central Bank – Norges Bank – noted that it is assessing whether the public should have access to a central bank digital currency (CBDC) or not. The Bank said it is now conducting tests while the pros and cons of introducing a CBDC are analyzed further.

“Crypto-assets and associated services need to be better regulated. Norges Bank is monitoring developments and will contribute to regulation that promotes responsible innovation”, says Governor Ida Wolden Bache.

 



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