European Central Bank Evaluates Public Blockchain Infrastructure for Digital Euro Project

The European Central Bank (ECB) is conducting a formal assessment of public blockchain networks, including Ethereum and Solana, as potential technological frameworks for the launch of a digital euro.

This development, reported by the Financial Times, indicates a broadening of the ECB’s technological considerations beyond private, permissioned ledgers.

This evaluation constitutes a notable phase in the digital euro’s development, as the governing technology stack remains undecided. Sources indicate that the option of utilizing a public blockchain is now receiving substantive consideration within ECB discussions.

The deliberation highlights a strategic divergence in CBDC design philosophy. Officials note that a private blockchain model would align more closely with the approach of the People’s Bank of China, whereas a public blockchain approach would leverage technologies pioneered by the private sector, predominantly in the United States.