The European Union has reportedly explored major blockchain public networks such as Ethereum and Solana for digital euro design.
The European Central Bank (ECB) is considered the operation of a digital euro in a public blockchain like Ethereum Instead of a private, financial times reported On Friday, people are known for this.
Unlike a private blockchain, where data is strictly limited to authorized creatures, public blockchains such as Ethereum or Solana are open to everyone.
If confirmed, the EU exploration of public blockchains represents a significant milestone in the development of the digital euro, given that the ECB has not completed the technology framework for the project.
Public model compared to US stablecoins
The use of a public blockchain is “definitely something (EU officials) are more serious today,” one of the people involved in digital euro discussions is said in FT.
Another person says a digital euro in a private form will look “more like the Chinese central bank does than that of private companies in the US.”
The person specifically referred to in China Central Bank Digital Currency (CBDC).
Related: China weighs Yuan supported by Stablecoins in the main policy shift: Reuters
Europe is increasingly concerned about the US Stablecoin Push promoted by the Trump administration and its implications for the autonomy of the European financial system.
In April, ECB Executive Board member Piero Cipollone calls for cutting stablecoin use in Europe By introducing a digital euro, citing risks to adoption of US dollars dollars, which dominate The Stablecoin market at 98%.
The ECB has not yet confirmed to the public whether it considers Ethereum or Solana. Cointelegraph contacted the Central Bank for comment but did not receive a response by publication.
This is a story development, and further information will be added as it is available.
