Die Deutsche Bundesbank hat keine Pläne zur Gründung von CBDC

Deutsche Bundesbank spoke about the completion of the testing of the project in partnership with Deutsche Börse which was able to combine financial infrastructure with innovations embedded in blockchain technology.

Its main task was to make settlements on securities transactions using the distributed registry (DLT) and the TARGET2 gross settlement system (RTGS).

Using DLT technology and trigger mechanism, the bank conducted an atomic transaction with federal bonds (Bund). In this way, he tested the trading of securities in the secondary and primary markets.

Several modules were able to link the internal system of the German Federal Bank with the transaction coordinator from Deutsche Börse. All this was done in order not to put a certain token in the center of a functioning system.

The bank decided to replace the potential CBDC coin with an interface that activates the trigger, meaning the transaction was successfully completed. It then signals to users that money can now be safely transferred from hand to hand.

German financial institutions have long made no secret of the fact that they are not too interested in creating the digital currency of the central bank (CBDC). First of all, the reason for this could be that in case of failure of the project, the position of the German Federal Bank in the eyes of its European counterparts from the central banks of other countries can be undermined, as well as the credibility of traditional financial institutions.

A similar opinion was expressed a year earlier by one of the German politicians Burkhard Balz. He said that by creating their OWN CBDC, countries are sputtering attention instead of focusing on the technology underlying digital currencies.

At the same time, other EU countries do not seem to intend to slow down the design and testing of their digital currencies by central banks. The same France, for example, is already conducting wholesale testing of THE CBDC, which has become the largest among the countries of the Eurozone.

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