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Share link:In this post: The ECB’s first progress report on the digital euro focuses on privacy, with measures like pseudonymization and encryption to protect users. An offline digital euro feature will allow transactions without internet, aiming to mimic cash-like privacy and convenience. The ECB is working on holding limits and integration with commercial bank accounts to ensure financial stability and ease of use.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liab
The European Central Bank (ECB) has released its first progress report on the development of a central bank digital currency (CBDC). The June 24 update emphasizes the ECB’s efforts in creating a secure, private, and efficient digital payment system.
The ECB states that it is committed to ensuring the highest privacy standards for online and offline digital euro transactions. The report highlighted the importance of pseudonymization, hashing functions, and encryption features to protect users from being tracked through their transactions.
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