The European Central Bank is introducing the digital euro before the end of this year

Last week, the "Global Blockchain Congress": a conference took place in Málaga, Spain, where one of the officials of the European Central Bank (ECB) confirmed his work on the digital euro. The bank referred to it as a central bank's digital retail and wholesale currency (CBDC) and noted that it was a blockchain experiment ...

Organized by the European Commission (EC), INATBA and Alastria, the conference brought together entrepreneurs and regulators to discuss DLT and Stabelcoin technology. Two weeks earlier, the German Banks Association issued a detailed plan for the "digital euro" pushing hard for a regulator to issue it. Theoretical and practical research has been carried out since 2016 by the Bank of Japan and the Stella project on the distribution of digital euro CBDC to institutional and retail clients as well as on the transfer of current payment systems to DLT. In June, Stella completed the third phase, which concerned DLT for cross-border payments. The ECB's report focuses on wholesale CBDCs, while the Bank of Japan (BoJ) released its retail CBDCs report earlier this year. Dirk Bullman, the lead leader of this project, revealed that the work was completed and that the system complied with the CBDC's anti-money policy requirements. The European Central Bank wants to introduce a digital currency before the end of this year.