Yesterday the Italian banking Association ABI announced the willingness of Italian banks to participate in the central bank digital currency (CBDC) work of the European Central Bank (ECB). Update: in December it launched a project.
The Association highlighted its experience in the Spunta project, a blockchain initiative that automates the interbank reconciliations of most of the Italian banking sector. Given that experience, it could indeed be a good candidate as a trial nation for a digital euro.
An existing working group within the Association is focused on digital currency and crypto assets and they outlined ten CBDC considerations that they wanted to share. For example, the importance of complying with EU laws, the need for widespread trust and usability, and that a CBDC might help to reduce the attraction of “higher risk” cryptocurrencies.
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