London, September 30 March 2022 /PRNewswire/ — Released by the European Central Bank on the 29thth September 2022, their latest progress report on the investigative phase of the Digital Euro project and details the basic design features approved by the Council. The report highlights key operational transfer mechanism requirements for a digital euro, including:
- Third-party online verification
- Offline functionality (payee or payer not connected to the internet) and peer-to-peer verification
- Privacy level at least equal to current private sector digital solutions
- Compatibility with current regulatory framework
More details can be found at the following ECBs association.
Aureum is Fluency’s proprietary blockchain account-based ledger technology designed to enable the implementation and ongoing operation of CBDC systems. Specifically, Aureum, with its unique account-based ledger architecture, enables:
- peer-to-peer authentication;
- Certified third-party online payment verification;
- Dual offline functionality (when neither the payee nor the payer has a mobile or internet connection);
- instant and programmable payments; and
- Double spend protection through its ledger storage architecture
Inga MullinsFluency’s CEO and founder said: “We are very pleased to see that our solution, Aureum, implements all the essential design aspects of a digital euro approved by the ECB’s Governing Council and look forward to continuing to work with the world’s major centres on central bank digital currencies Bank of”.
For more information, please contact [email protected]
Source Fluency Group Ltd.