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The ECB will examine using individual users to validate transactions offline, but “the time to market for this solution is more uncertain” than one involving traditional intermediaries like banks, given uncertainties over technology and security, the document said. “The development of a third-party validated solution for online payments should not
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A solution that builds on existing interbank settlement infrastructure, instead of one based entirely on DLT, can be implemented "more rapidly" according to ECB executive board member Fabio Panetta. Source
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The European Central Bank (ECB) has selected five companies to help develop user interfaces for a digital euro. Each company will work with the ECB and focus on one specific use case of the digital euro. Amazon has been chosen to focus on e-commerce payments. ECB Collaborates With 5 Companies on
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The European Central Bank will test how well the technology underlying a digital euro integrates with prototypes developed by companies. Source
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The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 8, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original Source
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As such, the ECB's latest move demonstrates that global liquidity tightening is in full swing, which weakens the case for bullish revival in risk assets, including cryptocurrencies. Later this month, the Fed is expected to deliver its third 75 basis point hike – with the U.S. agency’s previous hikes contributing
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According to the French politician currently serving as the president of the European Central Bank (ECB), Christine Lagarde, Europe’s scorching hot inflation can be blamed on climate change. During her interview with Madame Figaro, Lagarde stressed that people need to take into account that “climate disasters” affect price stability a
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The European Central Bank (ECB) says the introduction of digital cash in the form of central bank digital currencies (CBDCs) appears to be the "only solution" that will guarantee a "smooth continuation" of the current monetary system. The comments were made as part of an ECB Working Paper Series, which was published
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Several solutions can potentially improve cross-border payments significantly and central bank digital currency (CBDC) could be the “holy grail,” according to the European Central Bank (ECB). In a new report, the eurozone’s monetary authority also claims stablecoins, among other options, are “problematic.” ‘Holy Grail’ of Cross-Border Payments in Reach Through CBDC,
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“The holy grail of cross-border payments is a solution allowing cross-border payments to be immediate, cheap, universal and settled in a secure settlement medium,” said the study, which was co-authored by Ulrich Bindseil, the ECB's director-general for market infrastructure and payments. Original Source
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