The Estonian bank says a CBDC would in theory give people and companies a new way to deposit and use money alongside their accounts at commercial banks and cash.
“Eesti Pank as a small central bank chooses carefully which Eurosystem development projects we are able to contribute to meaningfully. Estonia has over the years developed unique know-how in running a digital government that prioritises security, privacy and efficiency,” explains Rainer Olt, Head of the Payment and Settlement Systems Department of Eesti Pank.
Guardtime is the Estonian government’s “long-term” blockchain partner. Guardtime says it is in talks with several unnamed central banks over the possible development of their own digital currencies. It says there is an increasing sense of a “race to the moon” and first movers in this space, such as China, “could win long-term geopolitical advantages”.
Conntinue read: https://www.fintechdirect.net/2020/10/02/estonias-central-bank-unveils-cbdc-research-project/
