- Coti was invited to become a pioneer partner, showing an increase in recognition of its technology in the CBDC space.
- As a pioneer partner, COTI will test the privacy solution of the condition of the ECB's simulated infrastructure.
The European Central Bank's (ECB) initiative to explore technologies for a potential digital euro has chosen COTI as a pioneer partner. To provide solutions for a Central Bank Digital Currency (CBDC) that apply to the entire Euro, COTI will work with ECB and other partner organizations.
Preparing for the launch of a digital euro, an alternative to physical cash that will allow safe, private payments throughout the $ 15 trillion economy of the Euro area, is the main purpose of the ECB initiative. Following a previous partnership with the Bank of Israel in the digital trials in Shekel, Coti was invited to become a pioneer partner, showing an increase in recognition of its technology in the CBDC space.
As a pioneer partner, COTI will test the privacy solution of the condition of the ECB's simulated infrastructure. This will be important in guarantee that validation of the possession can be confirmed without disclosing private user data, which is an important requirement for a CBDC system.
Shahaf bar-geffen, coti co-founder and CEO, said:
“It is invited to cooperate with the ECB in such a consequence project is humble, and a testament to the expertise and hard work of the COTI team. Privacy is an important ingredient for the future of the web3, ensuring that adherence to user and organizational security, and the same benefits applies to CBDCs. It is critical that the confidentiality is developed in the major system, the main system of new system, the main system of new system, the main system of new system, rather than simply added as a thought.
Following its successful participation in the Bank of Israel's Digital Shekel Challenge, it created a proof-of-concept for the private, unbelievable cross-border transactions using garbled circuits, Coti's ECB was invited. To maintain the on-chain privacy and facilitate safe user interactions, Coti will now change light, decentralized confidential computing technology for the case of using ECB conditions.
To improve retail payment solutions, the ECB change platform combines -includes a wide range of stakeholders, including banks, fintech, merchants, financial institutions, and technical experts. Payment conditions, an important component for validating the legitimacy of genitals in real time, are the first place of emphasis. Coti's efforts in this field will contribute to how a digital euro can work properly and safely.
As the initiative progresses, COTI retains its community knowledge and share insights on this cooperative effort to influence the direction of digital currency in the Euro region.
With the help of the innovative cryptographic protocol garbled circuit, the coti network is the fastest and lighter confidential layer on the web3. By introducing the most cut-edge and following solution for data security to public blockchain, COTI, a member of the Enterprise Ethereum Alliance, opens the door for the next wave of web3 change and adoption. A wide range of use cases, such as defai, RWAs, security, identification, and more, are possible through COTI. Visit To know more.
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