{"id":21780,"date":"2023-08-31T22:06:58","date_gmt":"2023-08-31T22:06:58","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/ibm-offers-guidance-for-successful-implementation-of-digital-euro\/"},"modified":"2023-08-31T22:07:00","modified_gmt":"2023-08-31T22:07:00","slug":"ibm-offers-guidance-for-successful-implementation-of-digital-euro","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/ibm-offers-guidance-for-successful-implementation-of-digital-euro\/","title":{"rendered":"IBM offers guidance for successful implementation of digital euro"},"content":{"rendered":"
IBM has some ideas about what it will take to make the digital euro a success, which it shared in a recent blog post. It suggested five items for designers to help the European Central Bank (ECB) digital currency \u201center the highly competitive, multifaceted, and heterogeneous payments landscape in the Eurozone.\u201d<\/p>\n
Some of IBM’s points are already found in the European Commission (EC) legislative proposal. \u201cBuild on existing rails,\u201d the first point, is already foreseen in the EC plan, although it can be extended, the five authors\u00a0said. Simplicity will be key to initial adoption, they reasoned, and familiarity reinforces that.<\/p>\n
Intermediaries will also have a role to play in digital euro acceptance, and the digital currency should be designed to accommodate their needs:<\/p>\n
\u201cWe see a need for a more granular ecosystem of intermediaries. The future intermediary landscape for the digital euro should be envisioned as multi-level. Planning for more than one intermediary between the retail user and ECB\u2019s digital euro components would better support smaller intermediaries.\u201d<\/p><\/blockquote>\n
Standardization of APIs would simplify integration and encourage competition, the post said.<\/p>\n