During a Global Blockchain Congress in Malaga, Spain, Dirk Bullman, Innovation Team leader of the European Central Bank, revealed that the beank is making progress in its work in a digital Euro.
This statement confirms an agreement in pushing the Euro into the crypto market. If this is the case, it implies that sooner or later, much of the expenses carried out in international transactions would conform to the digital currency model.
If this pulls through, the Euro would be available as both wholesale and retail CBDC (Central Bank Digital Currency).
According to Bullman, the scheme faces three challenges: Its motivation, its design and how it will be implemented.
If these questions are answered satisfactorily, the CBDC might go mainstream.