On Monday, Norwegian startup Nahmii announced it was selected by Norway’s central bank Norges Bank to build its central bank digital currency (CBDC) sandbox. The solution will include Layer 2 blockchain protocols which are used to achieve scalability. After initial publication, the central bank responded to our queries confirming the tests will use a private enterprise blockchain, not public.
Nahmii emphasized that the sandbox will explore many different technologies.
Layer 2 blockchain protocols are reliant on the security of the parent or Layer 1 network. Nahmii specifically mentioned leveraging public blockchain security such as the Ethereum mainnet. The company has been working on this scaling technology for Ethereum for four years and the Nahmii network has a cryptocurrency token.
However, a central bank spokesperson stated that tests would use a private version of the enterprise blockchain Hyperledger Besu.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
