European Central Bank Takes Step Toward BlockchainBased Payments System

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The European Central Bank (ECB) is making significant strides towards a blockchain-based payment system that could pave the way for a central bank digital currency (CBDC) in Europe. This initiative is structured in two phases: the first focuses on developing a payment platform for central bank transactions linked to the TARGET system, while the second will explore broader blockchain applications. ECB's Piero Cipollone emphasizes that this move aims to enhance financial market efficiency and promote innovation. By rolling out a digital euro, the ECB seeks to enable fast, secure transactions across Europe, foster a unified capital market, and lessen dependency on non-European payment systems. Although discussions with stakeholders began in 2021, specific launch timelines for the digital euro remain uncertain. • #ECB #DigitalEuro #Blockchain #CBDC #PaymentSystem #FinancialInnovation #Eurozone #CapitalMarket #EconomicStability #CryptoNews • Read more on the site: https://neuron.expert/news/

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