30th July 2021
The central bank of Estonia has concluded a recent experiment. The blockchain-based digital euro can process 300,000 Payments a Second. Central banks from several euro area countries participated the test as well.
In addition to the unlimited number of payments , the test result is also a “good balance” between maintaining privacy and meeting anti-money laundering requriements .
The system is able to handle the entire supply of euros in circulation and more, and there are no limits on the number of money-holders or on the number of payments made simultaneously.
The Governing Council of the ECB will give the green light to further preparations for the digital euro , and will work to determine the technical infrastructure the Eurozone’s digital currency would need.