- EU accelerates digital euro project amid rising global interest
- Ethereum and Solana now under serious consideration
- Shift from private networks to public blockchains signals openness
Public Blockchains Take the Lead
In a major pivot from earlier strategies, the European Union is now exploring the use of public blockchains like Ethereum or Solana to power its upcoming digital euro. According to a recent Financial Times report, this marks a significant departure from the EU’s prior focus on private infrastructure—indicating a broader shift in mindset toward more transparent and decentralized technologies.
Previously, most central bank digital currency (CBDC) discussions centered on private or permissioned networks due to perceived security and control advantages. However, the growing maturity and scalability of Ethereum and Solana appear to have caught the attention of EU regulators and technologists alike.
Why Ethereum and Solana?
Both Ethereum and Solana offer smart contract functionality, wide developer support, and a thriving ecosystem. Ethereum, the more established of the two, boasts the largest decentralized finance ( DeFi ) ecosystem, while Solana is praised for its high-speed, low-cost transactions.
The EU’s consideration of these platforms highlights a desire for transparency and interoperability—two crucial elements for a digital currency intended to serve over 300 million citizens. If implemented, it would represent one of the most significant endorsements of public blockchain infrastructure by a major global economy.
What This Means for the Crypto Industry
The decision to explore public chains is seen as a win for the broader crypto ecosystem. It suggests regulators are becoming more comfortable with decentralized platforms and may look to integrate, rather than replace, existing technologies.
However, no final decision has been made yet. The European Central Bank (ECB) is expected to release a more detailed update in the coming months. But one thing is clear: the digital euro is no longer a distant concept—it’s rapidly becoming a reality.
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