Dutch Central Bank Plans to Experiment with a Blockchain-based Currency

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AMSTERDAM - Reportage bij De Nederlandse Bank, DNB. foto: tekst DNB. ANP XTRA LEX VAN LIESHOUT
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Buried deep in a report from the Dutch Central Bank (DNB) issued today they aim to develop a working prototype called DNBcoin based on Blockchain technology.

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c. Door een concreet prototype DNBcoin gebaseerd op de blockchaintechnologie te ontwikkelen.

According to a Linkedin post from Simon Lelieveldt it was buried deep on page 208 under the header of inclusion and accessibility of payments in the sustainability-part of the report. 

It’s been less than two weeks since the Bank of England announced a similar project they are calling RScoin

Lelieveldt writes more:

So is this new and revolutionary?

No and yes.

No, because I recall that twenty years earlier, the Danish central bank sold its electronic cash solution (Danmont) to the market (withdrawn as a micropayment tool in 2005), as did the Canadian central bank (selling of its Mintchip). So there is not much news in central banks setting up electronic cash.

What is new however is the environment in which this development occurs. Previously, central banks were keen on getting rid of cash as an inefficient payment method. As this starts to be succesfull (in Sweden and the Netherlands for example) the central banks adapt their position. The policy line now is that for availability and financial inclusion reasons cash still needs to be around as a payment mechanism.

So when we now see central banks moving forward in the electronic cash domain (now conveniently labelled: blockchain/fintech) it might be to no longer spin it off to the market, but to create a permanent digital replacement of cash. Therefore, this time it might be different.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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1 COMMENT

  1. […] オランダ中央銀行(DNB)は、DNBcoinと呼ばれるプロトタイプの実験計画を発表。 欧州議会(European Parliament)はレポートの中で「デジタル通貨タスクフォース」創設を提案。 各国金融監督当局で構成される金融安定理事会(FSB)もブロックチェーンへの取組開始を表明。 […]

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