European Central Bank Reaffirms Need to Support Blockchain Tech
The European Central Bank (ECB) reaffirmed the need to make sure it follows through on initiatives to ensure regulations do not undermine the development of blockchain or distributed ledger technologies (DLTs) in its Capital Markets Union mid-term review. The bank noted that the Eurosystem, of which it is a part, has a statutory task to support efficient payment and settlement systems. One aspect of this is to make sure technology enables faster, safer and less costly domestic and cross-border transactions while ensuring that innovation based on disparate standards in different national....
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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....
The European Central Bank (ECB) has said that it is investigating how it might apply blockchain technology for its own purposes. The statement was made in a new consultation report on the technologies used to run the region's securities and payments settlement systems and how they can be improved. The ECB said that, as part of its consultation process, it is looking at how blockchain applications could improve or hamper this market infrastructure. The report notes: “As part of its vision, the Eurosystem intends to assess their relevance for the different services it provides to the banking....
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 […]
Central banks should pursue applications of distributed ledger tech, a senior European Central Bank official said this week – but not at the expense of their reputation. Yves Mersch, a member of the ECB's executive board, gave remarks during an event in Helsinki on Monday during which he discussed the prospects of central bank-issued digital currencies. Mersch has given speeches on the subject a number of times in the past, including an appearance in December during which he disclosed that the ECB is working with Japan's central bank on blockchain research. Tech aside, Mersch said that....
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.....