The European Central Bank is exploring running the digital euro on public blockchains such as Ethereum
According to a report by Jinse Finance citing sources familiar with the matter, the European Central Bank is considering running the digital euro on public blockchains such as Ethereum, rather than on private blockchains, as reported by the Financial Times on Friday. Unlike private blockchains, where data is strictly confined to authorized entities, public blockchains like Ethereum or Solana are open to everyone. Since the ECB has not yet finalized the technical framework for the project, if confirmed, the EU’s exploration of public blockchains would mark a significant milestone in the development of the digital euro. Another source noted that a private version of the digital euro “would resemble the approach taken by China’s central bank more than that of American private enterprises.” This person specifically referenced China’s central bank digital currency (CBDC), which is privately deployed, in contrast to public stablecoins developed by companies such as Circle. The ECB has not yet publicly confirmed whether it is considering Ethereum or Solana.
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