The European Central Bank has outlined plans to build an instant payment settlement system that will let people and businesses send money anywhere in the euro area within seconds.
Market infrastructure is the backbone of the financial system. It is there to ensure that financial assets move safely and efficiently across financial institutions.
The European Central Bank is in the market for a senior technology executive with three years of practical experience in distributed ledger applications and front and back office project management expertise.
The European Central Bank (ECB) has stated that blockchain technology lacks the necessary maturity to be part of its market infrastructure.
Supporters of digital payment schemes like to push the idea that a cash-free future is just around the corner, yet fully three-quarters of all Euro zone payments at the point-of-sale are still made in cash, according to the European Central bank.
6 February 2016 was the first operational day on T2S for the clients of six central securities depositories (CSDs) from Austria (OeKB CSD), Germany (Clearstream), Hungary (KELER), Luxembourg (LuxCSD), Slovakia (CDCP) and Slovenia (KDD).
The European Central Bank is pondering the creation of a pan-European service for issuance of securities - and the potential role of distributed ledger technology in bringing the vision to reality.
There was a sharp drop in the number of counterfeit euro notes withdrawn from circulation last year, with only a tiny fraction pulled, says the European Central Bank.
We are living in digital times. The internet and portable online devices have radically transformed the way we use and exchange information, and the way we exchange money. Money has been digitalised in many ways and we can now, for instance, transfer bank deposits electronically and pay with e-money.
The European Central Bank has launched a market consultation on the user requirement for the development of a settlement service for real-time instant payments in central bank money, billing 2017 as a "decisive year" for the success of innovative retail payments services in Europe.
© Finextra Research 2017