The European Central Bank, in all its infinite wisdom, has decided that COTI is the perfect fit as a Pioneer Partner for the upcoming central bank digital currency (CBDC) initiative. The job? To show the world how a fancy conditional payments system could work before this digital euro even sees the light of day in 2026. No pressure, right?
Digital Euro Launch Set for Early 2026
So, here we have COTI, a privacy hero in the Ethereum world, chosen by the ECB to help craft the future of the Eurozone’s digital currency. Known for its groundbreaking cryptographic protocol and some mind-boggling “garbled circuits” (sounds like tech wizardry, doesn’t it?), COTI is now in league with the likes of KPMG, Accenture, and TATA to make the digital euro a reality. What could possibly go wrong?
But wait—there’s more! This blockchain protocol is not working alone in this digital crusade. With nearly 70 market participants, including merchants, fintech companies, banks, and payment service providers, COTI and others have signed up for the thrill of working with the ECB to explore what this digital euro thing could actually do. A full 2026 launch is on the cards, but first, the Pioneer Partners need to show they can actually make things work on a technical level. So, no rush!
Shahaf Bar-Geffen, COTI’s co-founder and CEO, had a lot to say about being selected by the ECB. He called it “humbling” (as CEOs do), but also made a point that privacy is the future of Web3. He stressed that confidentiality should be baked right into the core of these systems, rather than added like an afterthought. Well, that’s one way to sound like a visionary, Shahaf. Keep it up!
Being invited to work with the ECB on such a consequential project is humbling, and a testament to the expertise and hard work of the COTI team. Privacy is a vital component for the future of Web3, ensuring users’ security and organizations’ compliance, and the same benefits apply to CBDCs. It’s critical that confidentiality is built into the core of these new systems, not merely added as an afterthought.
And, just in case you thought COTI was new to this whole digital currency thing, think again. The company already helped develop a proof-of-concept for the Bank of Israel’s Digital Shekel. Trustless cross-border and cross-currency transactions using decentralized CBDCs? Check. Privacy? Oh, that’s there too, thanks to garbled circuits. Now, COTI’s taking its expertise to the next level, working with the ECB to see how the simulated digital euro can work seamlessly across its platforms. They’ll even get technical support from the ECB. How nice of them!
The ECB’s grand plan? To have these Pioneer Partners whip up a report later this year. Just a casual year-end check-up on how this whole “digital euro” thing is progressing. Stay tuned!
Read More
- INR RUB PREDICTION
- WIF PREDICTION. WIF cryptocurrency
- USD PHP PREDICTION
- DOT PREDICTION. DOT cryptocurrency
- WLD PREDICTION. WLD cryptocurrency
- Gold Rate Forecast
- GBP USD PREDICTION
- FIL PREDICTION. FIL cryptocurrency
- USD KRW PREDICTION
- GMX PREDICTION. GMX cryptocurrency
2025-05-06 10:04