The European Central Bank (ECB) has announced plans to create a new blockchain-based payment system that will allow financial institutions to make settlements in the central bank’s money. This is part of a larger initiative on the possible introduction of a central bank digital currency (CBDC). According to the ECB, this project will be implemented in two stages. First, a blockchain platform will be developed that will integrate with the current Target settlement system. The next stage involves the creation of an “integrated long-term solution” that will also include currency exchange transactions. The exact launch dates are not yet specified.The ECB project has some similarities with the initiative of the Swiss National Bank, which launched a pilot version of a CBDC for settlements with digital bonds in December 2023. This project has been extended until 2026.The ECB previously announced that a decision on the digital euro should be made in 2025. As part of this initiative, rules for the digital euro have already been developed, which will standardize payment processes and provide a single user experience.This step puts the ECB on the path to developing blockchain technologies and digital currencies, which could significantly change the European financial system in the coming years.
Source: https://fact-news.com.ua/etsb-zapustyt-blokcheyn-systemu-dlya-bankivskyh-rozrahunkiv
