ECB Chooses Amazon and 4 Other Companies to Help Develop Digital Euro

The European Central Bank (ECB) has selected 5 companies to assistance make idiosyncratic interfaces for a integer euro. Each institution volition enactment with the ECB and absorption connected 1 circumstantial usage lawsuit of the integer euro. Amazon has been chosen to absorption connected e-commerce payments.

ECB Collaborates With 5 Companies connected Digital Euro

The European Central Bank (ECB) announced Friday that it volition collaborate with 5 companies “to make imaginable idiosyncratic interfaces” for a integer euro.

The ECB explained:

The purpose of this prototyping workout is to trial however good the exertion down a integer euro integrates with prototypes developed by companies.

Each selected institution volition collaborate with the ECB and absorption connected 1 circumstantial usage lawsuit of a integer euro.

Caixabank and Worldline volition absorption connected peer-to-peer online payments. EPI and Nexi volition absorption connected point-of-sale payments initiated by the payer. Amazon volition absorption connected e-commerce payments.

The 5 companies were chosen from a excavation of 54 front-end providers, the European cardinal slope detailed, adding that they champion matched the “specific capabilities” required for the assigned usage case.

The ECB emphasized:

The prototyping workout is an important constituent successful the ongoing two-year probe signifier of the integer euro project. It is expected to beryllium completed successful the archetypal 4th of 2023 erstwhile the ECB volition besides people its findings.

“Simulated transactions volition beryllium initiated utilizing the front-end prototypes developed by the 5 companies and processed done the Eurosystem’s interface and back-end infrastructure,” the ECB noted. “There are nary plans to re-use the prototypes successful the consequent phases of the integer euro project.”

The ECB formally started investigating what its cardinal slope integer currency (CBDC), a integer euro, mightiness look similar successful October past year, noting that the probe signifier should past astir 2 years. ECB President Christine Lagarde said successful February that a integer euro volition not regenerate currency but volition complement it. “A integer euro would springiness you an further prime astir however to wage and marque it easier to bash so, contributing to accessibility and inclusion,” she explained.

What bash you deliberation astir the ECB choosing these 5 companies to make idiosyncratic interfaces for a integer euro? Let america cognize successful the comments conception below.