Although the general design of CBDC has slowed down in recent years, in particular since the arrival of the American president Trump, who has promised to ban such a product in the United States, the European Central Bank continues to try to launch a digital version of the currency widely used within its jurisdiction – the euro.
The latest news on the subject informed that the central bank has chosen COTI as a pioneering partner in its Euro digital project.
The press release shared with Cryptopote said the two parties will collaborate with other organizations to develop a solution for a digital currency from the Central Bank of the Euro.
The idea behind the European CBDC is to complete the species and to facilitate secure, fast and even private payments in the region's economy.
“Being invited to work with the ECB on such a consecutive project is humiliating and testifies to the expertise and the hard work of the COTI team. Confidentiality is an essential element for the future of web3, guaranteeing user safety and organizational compliance, and the same advantages apply to CBDC. Bar-Geffen.
The role of a pioneering partner will allow Coti to use and improve existing ECB infrastructure to “test its confidentiality solution for conditional payments”. According to the PR, this will help ensure that “the source of assets can be verified without exposing sensitive user information”, which is a key requirement for a CBDC system.
COTI, which introduced its network of V2 developers last year, has already worked on similar projects with the Banque du Shekel Digital of Israel. He has developed proof of concept for “confidential cross -border transactions without confidence using scrambled circuits”.
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