#Norway

Norway’s Private City Issues Its Own Cryptocurrency

February 16, 2019 by Neil at News

Norway’s first private city, Liberstad, aims to focus on the individual rather than government, and will be utilizing a cryptocurrency called “City Coin” for its residents to encourage efficiency and transparency. This is the first digital currency to ever be adopted by a “smart city," per a press release published...

Norway: Government Removes Electricity Subsidy for Bitcoin Mining Facilities

November 24, 2018 by Aisshwarya Tiwari at Altcoins, Blockchain, Business, News

According to a report published by Norway’s largest distributed newspaper Aftenposten, November 21, 2018, the Scandinavian country’s government has decided to do away with electricity subsidy provided to bitcoin mining entities. Bitcoin Mining Haven No More Subsidized electricity rates in the country made it an attractive destination for cryptocurrency miners the world over...

Central Bank of Norway to Develop Digital Currency Following Decline in Cash Usage

May 22, 2018 by Pratik Makadiya at Altcoins, Finance, News, Regulation

Prompted by the decline in cash usage, Norges Bank, a central financial institution of Norway, is looking forward to developing its own cryptocurrency. As per Norges Bank’s recent report, dubbed the “Central Bank Digital Currency”(CBDC), plans to act as an alternative to fiat currency to “ensure confidence in money and...

Investors From 28 Countries Snap Up Land in Bitcoin-friendly Liberstad

April 29, 2018 by Pratik Makadiya at Altcoins, Bitcoin, Ethereum, Finance, News

Over 100 individuals have purchased plots of land in the "private city" of Liberstad, Southern Norway. The libertarian enclave announced the sale of land for bitcoin in August 2017. Arrangements have been made as of now with future inhabitants from Brazil, Sweden, and the UK, among different nations. Its organizers...

Bitcoin Friendly Norway Welcomes Bitfury with Open Arms

March 23, 2018 by Ogwu Osaemezu Emmanuel at Bitcoin, Business, Mining, News

At a time when some world powers are are doing everything to make bitcoin mining as unprofitable as possible by charging miners outrageous electricity bills, Norway has left its doors wide open for all Hodlers to troop enter. Now, Bitfury is establishing a multimillion-dollar bitcoin mining datacenter in the crypto...

A store front with sales signs. Two big bitcoin logos and says "Accepted Here"

Liberstad: Norway’s First Private City Where You Can Pay Using Bitcoin

August 10, 2017 by Alex Lielacher at Bitcoin, News

A non-profit organization, Liberstad Drift AS, has launched a tax-free private city named Liberstad. Located in Tjelland, which is part of the Municipality of Marnardal in rural Norway, the city is based on Libertarian principles and highly encourages the use of bitcoin and other cryptocurrencies. Liberstad Drift AS is composed...

Moving Toward a Cashless Society: Norway’s Two Largest Banks Abandon Cash

February 2, 2016 by Joseph Young at News, Regulation

Norway’s largest bank, DNB, has suggested that the Ministry of Finance ban the circulation of cash, as a part of the nation’s major initiative to reduce black market sales and financial crimes like money laundering and fraud. “Today, there is approximately 50 billion kroner in circulation and [the country’s central...