At the height of 2017’s ICO boom, European Union member Estonia said it had the digital backbone to issue its citizens a national cryptocurrency, an “
It’s also worth noting that the European Commission, the executive arm that implements the decisions of the European Parliament, has an ambitious proposal to make digital identity systems more interoperable across its various member states.
“I think by the time a CBDC gets deployed across Europe, the different ID systems will play better with each other and that interoperable infrastructure will be in place,” Ilves said.
Summing up, Guardtime chief Gault acknowledged CBDCs have become a busy and febrile space but reiterated the need for speed when it comes to deploying a truly retail offering.
“We think there are a lot of horses in this race,” said Gault, “but we’ve invented the first combustion engine.”