More of the potential European CBDC takes shape.
Progress continues on the creation of a digital euro, and the European Central Bank has documented it in a second progress report that described design and distribution options recently approved by its governing council. The report considered four crucial issues, roughly in keeping with the timeline the ECB set for itself that tentatively culminates in a decision on whether to transition from the investigation to the realization phase of work in Q3 2023.
Offline peer-to-peer transactions with validated digital euros could be settled in a digital storage device and later “verified and recorded through secure elements in hardware devices.”
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