Can The European Central Bank Go DAO? How Blockchain Will Help Europe
Can, in not too distant future, the European Central Bank become a decentralized autonomous organization? In Part 1 of the article “How the European Parliament Views Blockchain” we looked into how Euro Parliament has taken on cryptocurrencies in its latest report. Here, in Part 2, we continue to analyse it. The European Parliament is looking at cryptocurrencies as a means to conduct transactions faster and cheaper, assuming that cryptocurrencies can help lower borders within the European market. Diminishing role of banks. But this assessment ignores how Bitcoin redesigns and diminishes the....
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The European Central Bank (ECB) has revealed that it is taking a close look at exploring the potential of blockchain technology for a multitude of services that it helps collaborate with other central banks in Europe. The European Union’s central bank has, in a report, revealed that it is looking toward new innovations such as blockchain or distributed ledger technology to help run payment and settlement systems. ECB made the revelation in a consultation report released this week, one which looks to the future of Europe’s financial market infrastructure and Eurosystem’s part in it. The....
President of the European Central Bank Christine Lagarde took to Twitter earlier to announce that the European Central Bank has decided to move up the investigation phase for the euro digital currency. The tweet comes in response to a tweet from the European Central Bank official Twitter handle, announcing that the institution would launch a […]
The European Central Bank is engaged in “experimental work” on blockchain technology. As some banks have warned, the technology is still too new to know what real world uses it has. But, according to an ECB executive board member on Monday, the central bank is researching how the technology could apply to modern financial systems. Member of the Executive Board of the ECB, Yves Merch, confirmed the ECB is investigating blockchain technology and how it could be adopted by the euro zone’s central banks. “From a central bank perspective, in the context of our strategic reflections on the....
In remarks that highlight flaws of the fiat currency system, the European Central Bank (ECB) president, Christine Lagarde, says the institution cannot go bankrupt even if it incurs losses running into trillions. According to Lagarde, normal bankruptcy rules do not apply to the ECB primarily because it is the sole issuer of euro-denominated central bank money. The Eurosystem will always be able to generate additional liquidity as needed. Bankruptcy Rules Not Applicable to ECB The ECB leader made her remarks while responding to a question from an Italian member of the European Parliament.....
Following a string of similar announcements from Estonia and Russia, the Central Bank of Lithuania issued a warning to its citizens regarding the use of bitcoin and other virtual currencies on 31st January. Now, two weeks later it has clarified its intent, indicating that the possibility of new regulation remains "under discussion", but that it would likely monitor decisions from Europe before enacting any laws. Speaking to CoinDesk, the Central Bank of Lithuania expanded upon earlier warnings that suggested the eastern European nation may issue "an official ban" on currencies not....