European Central Bank Accelerates CBDC Payment Platform Development

The European Central Bank (ECB) is speeding up the creation of its Central Bank Digital Currency (CBDC) payment system.

The project will unfold in two phases: first, the development of the payment platform, followed by its integration with current market systems.

Media reports have noted that “CBDCs have been criticized for potential privacy issues, concerns about state control over financial transactions, and their inability to address the inflationary nature of fiat currency.”

Additionally, it was mentioned that “The ECB has intensified its efforts to develop the digital euro (CBDC) since the Trump administration assumed office.”