| dc.description.abstract | The world is in constant development and new technologies are being created. And the banking industry is no exception. In this research paper I will try to explain how the Norwegian banking market is preparing for the implementation of cryptocurrencies or Central Bank Digital Currencies (CBDC). Since the technology behind cryptocurrencies is relatively new, it would be a good start for further research.
By doing a multi-method explorative approach based on qualitative and quantitative data collection, the chances of getting an answer to the research question increased. From the results of the data collection there was shown that there is a lack of knowledge connected to cryptocurrencies. As a result of this most of the local banks were not able to attend an interview. I was able to get an interview with SpareBank 1 SR-Bank where it was discussed that the development of digital currencies was conducted by Norges Bank. In the preparation for cryptocurrencies amongst the banks, it was said that most banks are watching the development of the technology but are not investing in the research.
The quantitative data collection shows that the need for cryptocurrencies is not yet there, with a great number of the participants stating that they do not have a relationship with cryptocurrencies. And if there was to be an investment and research into the technology of cryptocurrencies, it is expected that the banking industry will have the responsibility to pursue it. | |
