The European Central Bank (EBC) approved a two -point plan for resolving transaction technology (DLT) using a central bank money, which can pave the way for the modernization of the European financial system.
The first song, named Pontes, will focus on a low -term solution, combining DLT platforms based on blockchain with target services, a package of financial services developed and supported by Eurosystem designed to facilitate the flow of payment and securities in the euro area.
It is expected to expect until the end of the third quarter of 2026 he said Tuesday. This pilot will operate the insight of EBC research in DLT trials in 2024, which included over 50 experiments and 64 participants to test the unified settlement system with the money of the Central Bank.
“The decision is consistent with the involvement of the Eurosystem in supporting innovation without prejudice to the safety and performance of the financial market infrastructure,” wrote EBC.
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The second song has a long -term approach
The second path, called Appia, has a long -term approach to develop an “integrated ecosystem in Europe, which also facilitates safe and efficient operations at global level.”
Appia will see that the ECB will continue to study DLT applications in the wholesale settlements of the Central Bank during a closely cooperating with public and private partners.
Eurosystem will also create market contact groups for both Pontes and Appia to maintain dialogue with interested parties and collect feedback. Soon a call to express interest will be published to join the Pontes group.
The plan appears when central banks around the world investigate how blockchain can improve settlements while maintaining control over money flows.
In 2023, Bis London Innovation Hub conducted the experiment of the Bank of England, successfully tested using DLT to conduct vast -scale interbank transactions. He showed a prototype that could speed up and reduce the costs of gross settlement systems in real time (RTGS), combining them with other financial infrastructures and books.
Cointelegraph contacted the ECB for a comment, but did not receive an answer by the publication.
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DLT rehearsals reveal the demand for the money of the central bank
EBC also published Report describing the results of the last DLT exploration work. The report confirmed the forceful market demand for the settlement of tokenized assets in the money of the central bank, and 1.6 billion euros ($ 1.88 billion) was settled during rehearsals with the participation of 64 participants throughout Europe.
Discoveries show that DLT can reduce “fragmentation, complexity and technological ineffectiveness” on capital markets by enabling atomic, programmable settlement.
However, he drew attention to the need for standardization, harmonized legal framework and “connecting interoperability with target services as possible.”
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