An experimental project with the digital euro has been launched in Italy. This was reported by the Italian Banking Association (ABI), which is implementing the project together with the association’s research center ABI Lab.
The purpose of the organization is "to actively participate in public debates and to support banks operating in Italy, helping them to prepare for new conditions."
In this case, it is believed that the European Central Bank is considering the creation of a digital euro already in 2021.
One more key moment is to check the programmability of the future digital currency by using smart-contacts, which in the present time is not real
In fact, the ABI project is aimed at investigating the technical feasibility of the digital euro based on the technology of the distributed peer-to-peer technology (DLT).
The first "development site" of the infrastructure andmodels of distribution will be developed in collaboration with Sia and will use the banking infrastructure ABI Lab Chain, which already has 100 nods, available.
The second block, dedicated to programming, will be dedicated to a few hypothetical options for using in cooperation with the same banks and data companies.
ABI's statement confirms that the ECB is activeworks on the possibility of issuing a digital euro, therefore, it is purposefully prepared to be able to start a digital euro in three simple steps:
- to support the digitalization of the European economy;
- for refusal from the use of cash;
- to prepare for a wider use of digital currencies issued by private individuals or other central banks.
