The European Central Bank (ECB) has selected five companies, including Amazon, to help develop a digital euro. digitaleuro digitalcurrency CBDC
The European Central Bank has selected five companies to help develop user interfaces for a digital euro. Each company will work with the ECB and focus on one specific use case of the digital euro. Amazon has been chosen to focus on e-commerce payments.The European Central Bank announced Friday that it will collaborate with five companies “to develop potential user interfaces” for a digital euro.
Each selected company will collaborate with the ECB and focus on one specific use case of a digital euro. Caixabank and Worldline will focus on peer-to-peer online payments. EPI and Nexi will focus on point-of-sale payments initiated by the payer. Amazon will focus on e-commerce payments. The five companies were chosen from a pool of 54 front-end providers, the European central bank detailed, adding that they best matched the “specific capabilities” required for the assigned use case.The prototyping exercise is an important element in the ongoing two-year investigation phase of the digital euro project. It is expected to be completed in the first quarter of 2023 when the ECB will also publish its findings.
“Simulated transactions will be initiated using the front-end prototypes developed by the five companies and processed through the Eurosystem’s interface and back-end infrastructure,” the ECB noted. “There are no plans to re-use the prototypes in the subsequent phases of the digital euro project.”
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