The Norwegian government has decided to use Arbitrum technology based on Ethereum (ETH). The latter will develop a platform from which Norwegian citizens will be able to access shares of unlisted companies.
Arbitrum will develop a platform for shares of unlisted companies
The Norwegian government will use Arbitrum technology based on the Ethereum network (ETH). This was announced by Jon Ramvi who is a Web3 developer and founder of the Symfoni protocol. Jon took to the social network Twitter to share details about the latest use case for Ethereum (ETH) in utilities.
That said, Norway will use Arbitrum technology to create a platform that will allow Norwegian citizens to access shares of companies not yet listed on the stock exchange. It will provide the new platform with the necessary resources to deliver maximum efficiency to the public.
The shares will be beaten in form ERC1400 standard signals based on Ethereum (ETH). This standard occurs as a combination of ERC20 and ERC721 standards. ConsenSys, Ethereum’s leading development studio, helped implement these ERC signals.
Another product based on Ethereum (ETH) will be used. It is the decentralized data storage and transfer platform Ceramic which will allow the personal data of users to be processed in accordance with the laws in force.
Symphony, a project by Jon Ramvi, which also contributed to the development of the Norwegian government platform. In fact, it has released a software development device (SDK) for the platform’s engine developers.
A major step towards adopting an Ethereum scaling solution (ETH)
The use of Arbitrum by the Norwegian government is a major step in the adoption of this technology. In fact, this is the first time the mainland has used Arbitrum technology which is the leading scaling solution for Ethereum (ETH). Moreover, this is the first time a mainland has started using Ethereum (ETH) and its products to create a new kind of financial market for inclusive and democratic exchanges.
This project shows how land has been taken by taking Arbitrum in the second quarter of 2022. In addition, Arbitrum is now responsible for more than 50% of the TVL aggregate measurements of all layer 2 protocols on the Ethereum (ETH) network. In addition, it is currently organizing an Odyssey campaign to improve its compatibility with its partners’ protocols. One of the current goals of the team behind Arbitrum is to accelerate the adoption of technology for Web3 applications.
The Norwegian government will use Ethereum Arbitrum to power a platform that will allow Norwegian citizens to access shares of unlisted companies. This Norwegian government project proves that the adoption of Arbitrum technology and Ethereum network is on track.
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Luc Jose Adjinacou
Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and express my pen information related to this ecosystem.