ECB official Isabel Schnabel urges central banks to put programmable reserves onchain as Europe prepares its Pontes settlement project.
- The ECB is urging central banks to adopt programmable digital reserves on-chain, aligning with Europe's Pontes settlement project.
- While the ECB emphasizes privacy for offline digital euro transactions, online transactions will be subject to commercial banking surveillance.
- Despite privacy concerns and low merchant adoption of crypto payments in the Eurozone, the ECB is moving forward with digital euro pilots and exploring the implications of stablecoins on bank deposits.
Topics: Jurisdictions, Blockchain usage, Cbdcs central bank digital currencies, Established hubs, Wholesale cbdcs, Cbdc wholesale rails
Tags: #ecb #digitalreserves #onchain #programmable #centralbanks #cbdc #settlementproject #pontes #privacy #stablecoins
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