365Crypto
Europe Wants a Digital Euro on Public Blockchains
The European Union is exploring Ethereum and Solana to power its upcoming digital euro. Instead of using a private system like China’s CBDC, the EU is weighing open networks.
Why Public Chains?
Public blockchains, like Ethereum and Solana, are transparent and accessible to everyone. Unlike private models, they don’t lock data behind closed doors. EU officials now see this as a serious option.
One insider said a private digital euro would look “a lot more like China’s version” than U.S. stablecoins like USDC.
Stablecoin Rivalry
Europe is uneasy about U.S. dollar-backed stablecoins dominating the global market. With nearly 98% share, they risk pulling financial power away from the euro. ECB officials want a digital euro to push back.
Still No Final Decision
The ECB hasn’t locked in its tech choice yet. A decision on whether to issue the digital euro is expected by late 2025.
The Good and the Bad
Experts say a blockchain-powered euro could fit smoothly into existing crypto infrastructure. But it could also tighten government control over blockchain governance.
