Amazon to collaborate on digital Euro prototype
Coin Telegraph • November 08, 2022
The European Central Bank has revealed the partners it selected to work together on creating a prototype of the digital euro. Amazon is one of five new partners to support the development of the digital euro, responsible for payments to e-commerce.
Each of the companies will take on a different role in putting together the prototype. For example, the Spanish bank Caixabank will develop an online peer-to-peer payments application while the French multinational payment service, Worldline, is responsible for the offline version.
This process forms part of an ongoing investigation phase spanning over two years. The ECB expects to complete this phase by March 2023 by evaluating the prototypes produced as well as the success of the collaboration between the partners. According to the ECB, none of it will be used in the actual digital euro, but rather aims to form sound opinions on what is possible. The question remains if the digital Euro will be designed to be compatible with current Web3 ecosystems, or will live siloed off from the blockchain space altogether.