The European Central Bank (ECB) has announced plans to develop a blockchain-supported system for executing central bank monetary transactions.
Technological Development and Security
In the first phase, the ECB aims to create a secure and efficient platform compatible with TARGET Services to support transactions using central bank money.
Pursuit of Integrated Long-Term Solutions
The second phase will focus on integrated and long-term solutions evaluating international operations like foreign currency exchanges to create an integrated European market.
Impact on the Financial System
The use of blockchain in central bank monetary transactions is expected to improve efficiency and integration within the financial system, contributing to the digital transformation in European markets.
This ECB initiative could represent a significant step in digital currency and financial solutions, evaluating new technologies and their integration into international operations.
