In April, Bjorn Kjos, billionaire and CEO of Norwegian Air launched the Norwegian Block Exchange (NBX) due to his keen interest in blockchain technology as well as its possible opportunities. The latest news indicates that NBX will eventually be providing services to the airline business. In particular, their goal is to increase crypto adoption among users and eventually, society as a whole.
In a statement issued by Stig Kjos-Mathisen, chairman of NBX and Bjorn’s son-in-law, he argued that the attempts made are solely for scalability purposes.
In addition, he said,
“We see that there is a need for a serious marketplace where you can buy and sell cryptocurrencies.”
As for its competitors, NBX strongly believes that it can one day take over the likes of GDAX and Kraken, leaving out the details as to how it will be achieved. Kjos-Mathisen further went on to explaining the strategies NBX will be implementing.
Specifically, he views,
“one of the most important thing for us is to build an ecosystem around the solutions we develop… the ecosystem within the Norwegian group is important, but also ecosystems in the airline industry.”
Norway was not always welcoming cryptocurrencies with open arms, as Bitmynt AS, a crypto exchange, lost against Nordea Bank. This, however, seems to be changing, as the country is introducing adoption and integration policies. For now, it seems that the country’s largest bank has already integrated bitcoin, with the central bank most probably following suit.
When asked about regulation, Kjos-Mathisen stated that it was the least of his worries as, “it is not long since we met with the Financial supervisory authority…” and based on the impression he got, “they are positive about the technology and do not want to inhibit the adaptation, but they have a cautious approach.”
The chairman of NBX finally stated that implementing components like Know-Your-Customers (KYC) and having the passports registered onto the platform should be done in ease. Many view this step taken by the Kjos family as a first mover, helping to pave the path for Norway to embrace cryptocurrencies.