ECB market research and prototyping exercises confirm feasibility of digital euro

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ECB market research and prototyping exercises confirm feasibility of digital euro EuropeanCentralBank ECB digitaleuro

- The European Central Bank has released a pair of reports detailing the bank's market research and prototyping exercise for the digital euro, which have confirmed the feasibility of technical solutions and user interfaces recommended for the bloc’s central bank digital currency .

A prototyping exercise that explored different use cases for digital euro payments was conducted from July 2022 to February 2023. The trial included the integration of five user interfaces developed by different providers for each use case and a settlement system designed and developed by the Eurosystem .

The market research covered 12 different components that would enable the issuance and redemption of digital euro, the initiation, processing and settlement of transactions, the management and protection of user access and user data, and all necessary interfaces between digital euro components and with digital euro users.

 

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