The European Council’s Eurogroup said on Jan. 16 that any eventual digital euro cannot be programmable and must be automatically convertible to traditional assets.
Digital euro must not be programmable
The Eurogroup said that the digital euro “cannot be a programmable money.”
Though the digital euro must be automatically convertible to the traditional euro at any point, the asset cannot be programmable so that holders are prevented from spending it on certain purchases or at certain times.
This is likely of interest to crypto developers considering how a digital euro might be integrated with DeFi applications and exchanges. Though the EU never confirmed that the digital euro would be built on blockchain, it suggested that decentralized solutions, including distributed ledger technology (DLT) were under consideration.
Crypto developers and their applications will undoubtedly be able to accept the digital euro. However, the Eurogroup’s insistence on a lack of programmability mean
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