Europe Mulls Ethereum, Solana For Digital Euro — Report

The European Union is reportedly investigating the main public blockchain network as Ethereum and Solana for its digital euro.

The European Central Bank (ECB) considers the operation of the digital euro to a and Public blockchain as Ethereum rather than private, financial times reported On Friday, quoting resources familiar with this matter.

Unlike private blockchain, where data is strictly limited to justified entities, public blockchains such as Ethereum or Solana are open to everyone.

If confirmed, the exploration of public blockchains of the EU would be an important milestone in the development of digital euros, given that the ECB has not yet completed the technology framework for the project.

A public model compared to American stablecoins

Using a public blockchain is “definitely something [EU officials are] Without serious seriously, ”one of the people involved in the digital Euro FT discussions said.

Another person said that the digital euro in private form would look “much more similar to what the Chinese central bank is doing than what private companies in the US are doing”.

A person specifically referred to China Digital Currency Central Bank (CBDC)which is deployed privately, it is against becoming publicly operated stablecoins developed by companies like Circle.

Related: China weighs yuan-under-opposed stablecoins in a large shift of politics: Reuters

Europe is increasingly concerned about the US pressure of Stablecoin supported by Trump’s administration and its consequences for the European financial system autonomy.

In April the ECB Executive Council Member PIERO CIPOLLONE called for cutting the use of stablecoin in Europe By introducing the digital euro, referring to the adoption risks of American stablecoins that caused by the dollar that control Stablecoin market at 98%.

The ECB still has to publicly confirm whether Ethereum or Solana is considering this. Cointlegraph contacted the central bank to comment, but did not receive the answer.

This is an evolving story and more information will be added as soon as they are available.