Estonia’s central bank Eesti Pank has published the results of a research project into the technical possibilities for a digital euro in experiments that involved the European Central Bank (ECB) and six other central banks of Spain, Germany, Italy, Greece, Ireland and Latvia.
The research focused on exploring the technical capabilities of blockchain technology for a central bank digital currency (CBDC).
A couple of the key challenges facing blockchain technology are low performance and high energy costs, although the energy issue is mainly a challenge for public blockchain.
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