Saturday, December 9, 2023

Norway central bank discloses open source code for CBDC sandbox.

The Norges Bank has released the open source code for the central bank digital currency (CBDC) sandbox. Its available on GitHub.

The sandbox offers an interface for interacting with the test network. It enables functions like minting, burning, and transferring ERC-20 tokens. Nahmii, the Norges Bank’s official CBDC partner, focused on defining and commissioning a sandbox production environment with open-sourced services. The sandbox includes a custom frontend and network monitoring tools. Nahmii said the sandbox frontend is designed to offer a clear and intuitive interface for interacting with the test network. It pointed out that role-based access control is in place for important functions like minting and burning tokens.

It should be noted that the current version of the CBDC network sits behind basic authentication and is only accessible by users with the appropriate credentials, making transactions private. The blog post says that sandbox development includes more complex and interesting use cases, such as batch payments, security tokens, and bridges. It involves smart contract work and additional front-end development.

The second part of the CBDC project will be delivered by mid-September. The source code will be made publicly available soon afterward. The blog post outlined that two options are available for interacting with the CBDC sandbox code. The first is access to the full CBDC environment can be arranged by request, and the second is that anyone can spin up a standalone version of the sandbox by using Norges Bank’s code and the standard Docker images.

In May, the Norges Bank said that the Ethereum cryptocurrency system is expected to provide the core infrastructure for the issuance, distribution, and destruction of digital central bank money. It said the prototype would be used to test a number of the important features of DSP.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

Most Popular