A pilot project to launch a digital euro has started in the
It is implemented by the Italian Banking Association in collaboration with ABI Lab Chain. There are over a hundred active nodes in the ABI blockchain and cooperation with Italian banks has been established
The main objectives of the pilot project:
- Exploring the possibilities of the digital euro
- Identification of likely launch problems
- Holding public debates
- Preparing a script for launching CBDC
The organisers of the project aim to strengthen the role of banks in the cryptocurrency environment using the CBDC issued by the European Central Bank.
Through the launch of a pilot project, it is possible to test the conduct of electronic payments in cryptocurrencies, as well as demonstrate the technical feasibility of launching a digital euro and explore additional services that can be launched using the CBDC.
The project is divided into two stages:
- Studying the infrastructure and token distribution model in order to understand how feasible the project is
- Experimenting with the digital euro and figuring out areas in which its use will be more convenient than electronic payments
The European Central Bank is supporting the launch of a pilot project to further digitise the European economy, reduce cash turnover, stimulate the spread of digital currencies and create a single economic zone for the spread of CBDC.