ABI Begins Experiments with Digital Euro on Distributed Ledger Technology
Dec 23 2020 · 10:59 UTC by Ibukun Ogundare · 3 min read
Photo: Depositphotos
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Months ago, the ABI announced that Italian financial institutions are ready to commit to the CBDC project.
The Italian Banking Association or Associazione Bancaria Italiana (ABI) has teamed up with its ABI Lab to begin experiments with a digital euro based on distributed ledger technology (DLT). The association said more than 700 financial institutions in Italy would be participating in the research project.
The ABI revealed details on the experimentation with a digital euro on the 22nd of December. The ABI said that the project is to study the feasibility of using DLT for a digital euro. In addition, the ABI would conduct further research on other services it could offer. In a statement, the association added:
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Italian Banks Start Experiments With Digital Euro Built on Blockchain Tech
Euro sign, Frankfurt, Germany
Updated Dec 22, 2020 at 4:22 p.m. UTC
Italian Banks Start Experiments With Digital Euro Built on Blockchain Tech
The Italian Banking Association (ABI) has started experimentation with a digital euro based on distributed ledger technology.
Comprised of over 700 Italian banking institutions, the ABI said Tuesday the work would examine the technical feasibility of a digital euro and further look at new value-added services that would become possible due to the programmable nature of the technology. The aim of the initiative is to proactively contribute to public debate and support banks operating in Italy as they prepare for the future, said the ABI in a statement.