ECB Selects Five Tech Firms To Build Prototypes For Its Digital Euro
One of cryptocurrency’s most notable use cases is enabling instant cross-border payments. That’s why the Central Bank Digital Currency (CBDC) program has attracted hundreds of jurisdictions worldwide, and some countries like China have already linked the technology with their central bank. Similarly, Europe Central Bank (ECB) is currently in the investigation phase of CBDC and […]
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The five fintech, payments and e-commerce firms will create front-end prototypes for the digital euro, which will not be used in later phases of the CBDC project. The European Central Bank, or ECB, has announced it will be collaborating with five companies for the development of potential digital euro user interfaces.In a Friday announcement, the ECB said it had chosen "Big Four" tech company Amazon, fintech firm Nexi, Spanish digital bank CaixaBank, French payments platform Worldline and the European Payments Initiative, or EPI, to each focus on developing a prototype based on specific....
The Federal Reserve is actively working on a central bank digital currency and some prototypes are near completion. The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) plan to unveil two prototypes of a digital dollar as early as July. Digital Dollar Prototypes Coming Soon Federal Reserve Chairman Jerome Powell said last week as part of an event held by the Bank for International Settlements (BIS) on central bank digital innovation that the U.S. central bank is actively exploring the launch of a digital dollar. The U.S. Federal Reserve has been actively....
One of the largest accounting firms in the world, Deloitte, says it has partnered with five blockchain startups and built a wide range of prototypes to service industries including insurance, employee management and cross-border payments. The 'Big Four' accounting firm has built 20 working blockchain prototypes in partnership with startups BlockCypher, Bloq, ConsenSys Enterprise, Loyyal and Stellar. Four of the prototypes will be demoed live on stage at the Consensus 2016 conference in New York City. Deloitte partner Eric Piscini told CoinDesk that, while the companies represent a wide....
A group of economists evaluating the potential effects of a digital euro have insisted that restricting access to the upcoming currency is necessary to preserve the current financial system. Their study follows an earlier proposal to limit digital euro deposits at the European Central Bank (ECB) to €3,000 per person. Limited Availability of Digital Euro Expected to Prevent It From Becoming Too Popular Europeans’ access to a digital euro should be restricted to prevent a flight of capital from deposits at commercial banks, according to a report published by the European....