The post ECB To Explore Blockchain for Central Bank Money Transactions appeared first on Coinpedia Fintech News
The European Central Bank (ECB) is exploring blockchain technology to improve how central bank money transactions are processed. This bold step could help boost blockchain and cryptocurrency adoption worldwide and modernize payment systems.
The ECB noted in a press release that the Governing Council of the European Central Bank (ECB) has decided to expand its initiative to settle transactions recorded on distributed ledger technology (DLT) in central bank money. The initiative will follow a two-track approach.
Firstly, the Eurosystem will soon create a secure and efficient platform for central bank money transactions, connecting it with TARGET Services. A detailed timeline for this will be announced later. Secondly, the Eurosystem will explore a more long-term, integrated solution for DLT-based transactions, including international operations like foreign exchange settlements.
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