ECB is looking to design a digital euro more energy-efficient than Bitcoin
The underlying architecture of the digital euro will be designed to have a negligible environmental footprint compared to Bitcoin and other crypto-assets. The European Central Bank, or ECB, joins the growing club of crypto-friendly financial institutions as it announces the decision “to launch a project to prepare for possibly issuing a digital euro.” The ECB’s official tweet noted:“We will look at how a digital euro could be designed and distributed to everyone in the euro area.”According to a press release on July 14, the ECB's governing council has launched the investigation phase of a....
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Europe’s digital currency project has made some progress recently, with the Eurozone’s central bank moving to its next stage. Critics point, however, to the continuing lack of clarity around the design and purpose of the digital euro after a decade-long delay, if cryptocurrency is taken as a benchmark. Digital Euro to ‘Feel Like a Prepaid Card of Sorts’ A week after the European Central Bank (ECB) decided to proceed with its plan to create a digital version of the euro, experts have voiced concerns about its unclear future. On July 14, the Governing Council of the....
Unbacked cryptocurrencies are not an efficient means of payment and stablecoins are vulnerable to runs, top officials at the European Central Bank have pointed out in a new article making the case for a digital euro. The executives have marked key objectives for the project which should provide Europeans with “easy access to central bank money” in the digital era. Trend Toward Digital Money Creates Risks, Senior ECB Officials Warn Maintaining access to central bank money is crucial for financial stability when payments are becoming increasingly digital. The digital euro can....
The European Central Bank (ECB) leans toward a “transparent” digital euro over one that ensures a higher level of privacy for its users, a presentation devoted to the project has indicated. In the document, the monetary authority explores different privacy options for the eurozone’s digital fiat. User Anonymity Not Desirable for Digital Euro, ECB Says A presentation by the European Central Bank has thrown some light on the regulator’s “preliminary views” on the privacy-related features of the digital euro. It comes as the project to issue a....
The European Central Bank (ECB) has appointed an advisory group for the digital euro project. Called the Digital Euro Market Advisory Group, it was founded with 30 members from business backgrounds. The council will have a say in the design, distribution, and value that this new digital currency can provide for the payments ecosystem. The currency could start its development phase in two years.
ECB Integrates Digital Euro Advisory Group
The European Central Bank has announced the appointment of the Digital Euro Market Advisory Group, an organization that will give council to the....
ASICRising, a German start-up is trying to find investors to produce a new high-performance microchip that it says would make bitcoin mining much cheaper and energy efficient. The process of mining is becoming increasingly expensive. While mining requires enormous amounts of energy to feed the computing power and cooling systems needed to get the hashing done, ASICRising happily says it has found a solution to this problem: an energy-efficient, low-voltage chip that together with specific software will reduce by more than half the energy needed to mine bitcoin.