The European Union is changing its approach to digital currency by considering public blockchains like Ethereum and Solana for the digital euro.
Shift to Public Blockchains
The European Union is altering its strategy by exploring the use of public blockchains for its upcoming digital euro. According to a recent Financial Times report, this marks a significant departure from its previous focus on private infrastructure.
Why Ethereum and Solana?
Both Ethereum and Solana offer smart contract functionality, wide developer support, and thriving ecosystems. Ethereum, being the more established platform, boasts the largest decentralized finance ecosystem, while Solana is noted for its high-speed, low-cost transactions.
Impact on the Crypto Industry
The move to consider public blockchains is seen as a positive for the broader crypto ecosystem. It indicates regulators are becoming more open to integrating existing technologies. However, no final decision has been made yet, with details expected in the coming months.
The digital euro is transitioning from a mere concept to reality, and its integration with public blockchains could significantly impact the future of the crypto industry.
