{"id":14174,"date":"2025-02-20T17:17:18","date_gmt":"2025-02-20T17:17:18","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=14174"},"modified":"2025-02-20T17:17:18","modified_gmt":"2025-02-20T17:17:18","slug":"european-central-bank-to-work-on-settlement-system-for-distributed-ledger-transactions","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=14174","title":{"rendered":"European Central Bank to Work on Settlement System for Distributed-Ledger Transactions"},"content":{"rendered":"<div>\n<p>The European Central Bank (ECB) said it is looking to develop a way of settling distributed-ledger technology (DLT) transactions with fiat currency as it expands its work on the key feature that underpins the blockchain and cryptocurrencies.<\/p>\n<p>The bank <a href=\"https:\/\/www.ecb.europa.eu\/press\/pr\/date\/2025\/html\/ecb.pr250220_1~ce3286f97b.en.html\" target=\"_blank\">plans a two-stage approach<\/a> to using the technology, which is a decentralized database that is <a href=\"https:\/\/www.coindesk.com\/learn\/what-is-a-distributed-ledger\" target=\"_blank\">maintained and updated independently<\/a> by individual participants in a large network. Firstly it will develop a system linked to its existing Target settlement system. Target ensures &#8220;the free flow of cash, <a href=\"https:\/\/www.ecb.europa.eu\/paym\/target\/html\/index.en.html\" target=\"_blank\">securities and collateral across Europe<\/a>,&#8221; it said.<\/p>\n<p>\u201cThis is an important contribution to enhancing European financial market efficiency through innovation,&#8221; Executive Board member Piero Cipollone, who oversees the initiative, said in a Thursday statement.<\/p>\n<p>The bank will also look for a long-term, more integrated way of settling DLT-based transitions in fiat money, which will include foreign exchange settlement.<\/p>\n<p>The ECB has been exploring <a href=\"https:\/\/www.coindesk.com\/policy\/2023\/10\/03\/eu-plans-for-wholesale-cbdc-out-within-weeks-french-central-banker-says\" target=\"_blank\">digital currency technology <\/a>since 2023. The initiative will build on exploratory work <a href=\"https:\/\/www.ecb.europa.eu\/press\/intro\/news\/html\/ecb.mipnews231213.en.html\" target=\"_blank\">which invited financial market stakeholders <\/a>to explore &#8220;wholesale financial transactions recorded on distributed ledger technology platforms to be settled in central bank money.&#8221;<\/p>\n<p>A timeline on the bank&#8217;s plans will be made public later.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The European Central Bank (ECB) said it is looking to develop a way of settling distributed-ledger technology (DLT) transactions with fiat currency as it expands its work on the key feature that underpins the blockchain and cryptocurrencies. The bank plans a two-stage approach to using the technology, which is a decentralized database that is maintained [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-14174","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14174"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14174\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}