The Governing Council of the European Central Bank has taken a step to further its initiative to dispose of the transaction recorded on laser technology using Central Bank Money.
The decision announced on 20 February in a press release is to integrate account technology distributed with the infrastructure of existing target services.
The ECB’s approach will follow the two-track strategy. The first track focuses on rapidly developing a safe and efficient platform for DLT-based settlements ensuring interoperability with target services. The second track will detect a long-term integrated solution to settle the account-based technology-based transaction distributed in the central bank money, including foreign exchange settlements.
Pierro Sipolon, a member of the European Central Bank Executive Board, emphasized the importance of balanced innovation with financial stability, stating: “We are embracing innovation without compromising on security and stability.”
According to a crypto. In an interview with Le Monde at the end of last year on the subject of news report, Cipolon, digital payment, said, “This is why we are working on a digital euro, which will be an electronic form of cash for digital payments.,
Construction of an integrated European Market
This initiative aligns with the widespread efforts of the European Central Bank to establish a more integrated European market for digital assets. The agency states that it is based on the prior searching done between May and November 2024, including 64 participants, including central banks, financial market participants and distributed laser technology forum operators.
These tests and experiments, including real settlements in the central bank’s money, determined the phase for this extended initiative.
As part of ECB strategy, there is also a governing council called To promote a digital capital markets union, which will facilitate the development of digital asset markets across Europe.
In contrast, it asks the recent development blockchain specialist Fierenzo Manganilo to keep in mind, who said in a Crypto.NUS report earlier this month that European central banks can start submitting bitcoins this year.
