The Executive Committee of the ABI has agreed on ten fundamental criteria to issue the digital euro.
The Association stated in the published guidelines that it been studying in depth digital coins and crypto assets since last year. The ABI indicated that Italian banks have already been operating on a Distributed ledger technology (DLT) infrastructure under the Spunta project, set in place by the Assosication to speed up the transaction speed within the member banks using blockchain.
The ABI also expressed its belief that a digital currency in the European Union could replace the need for other cryptocurrency.
The existence of such an instrument could at the same time reduce the attractiveness of instruments of comparable use but issued by private individuals or (in cases of complete decentralization) which are not identifiable, characterized by an inherently higher risk profile.
The post The Italian Banking Association is getting closer to launching digital euro appeared first on LeapRate.