Digital Euro updates and considerations
Channel: Solve Computer Science
Date: 2024-02-01

Lately there have been some updates on the looming Digital Euro.

This video concentrates on the technical aspects of recent tenders (contracts) that involve some aspects of this CBDC. Some of these contracts involve:
- APIs
- offline functionality
- fraud detection mechanisms

I also discuss a document that describes the different workflows of the Digital Euro.

What comes out of these draft documents gives you an idea of how it will probably work in the end. It will be very different from cryptocurrencies:
- digital currency, no crypto part:
- centralized, not peer 2 peer
- holding limits in place: there's a cap, yet to be defined, for each Digital Euro Account Number
- no transaction costs
Moreover, in the documents I linked below (the ones I discuss in the video), there is no mention of the word blockchain (as far as I'm aware). There is this "fraud detection mechanism" that will check every transaction on the DE (Digital Euro) network. We'll see...

Links

- https://www.ecb.europa.eu/home/search/html/digital_euro.en.html

- https://www.ecb.europa.eu/ecb/jobsproc/tenders/html/index.en.html
  - https://web.archive.org/web/20240000000000*/https://www.ecb.europa.eu/ecb/jobsproc/tenders/html/index.en.html

- https://www.ecb.europa.eu/ecb/jobsproc/proc/pdf/pro-009488_digital_euro_-_app_and_sdk_-_change_notice_-_cn_-_5165-2024.pdf
  - https://web.archive.org/web/20240000000000*/https://www.ecb.europa.eu/ecb/jobsproc/proc/pdf/pro-009488_digital_euro_-_app_and_sdk_-_change_notice_-_cn_-_5165-2024.pdf

- https://www.ecb.europa.eu/ecb/jobsproc/proc/pdf/pro-009485_digital_euro_-_alias_lookup_-_cn_3825-2024.pdf
  - https://web.archive.org/web/20240000000000*/https://www.ecb.europa.eu/ecb/jobsproc/proc/pdf/pro-009485_digital_euro_-_alias_lookup_-_cn_3825-2024.pdf

- https://www.ecb.europa.eu/ecb/jobsproc/proc/pdf/pro-009487_digital_euro_-_risk_and_fraud_management_-_change_notice_-_cn_5012-2024.pdf
  - https://web.archive.org/web/20240000000000*/https://www.ecb.europa.eu/ecb/jobsproc/proc/pdf/pro-009487_digital_euro_-_risk_and_fraud_management_-_change_notice_-_cn_5012-2024.pdf

- https://www.ecb.europa.eu/ecb/jobsproc/proc/pdf/pro-009494_digital_euro_-_offline_solution_-_change_notice_-_cn_-_5242-2024.pdf
  - https://web.archive.org/web/20240000000000*/https://www.ecb.europa.eu/ecb/jobsproc/proc/pdf/pro-009494_digital_euro_-_offline_solution_-_change_notice_-_cn_-_5242-2024.pdf

- https://www.ecb.europa.eu/home/search/html/digital_euro.en.html
  - https://web.archive.org/web/20240000000000*/https://www.ecb.europa.eu/home/search/html/digital_euro.en.html

- https://www.ecb.europa.eu/paym/digital_euro/investigation/governance/shared/files/ecb.degov240103_RDG_digital_euro_schemes_update.en.pdf
  - https://web.archive.org/web/20240000000000*/https://www.ecb.europa.eu/paym/digital_euro/investigation/governance/shared/files/ecb.degov240103_RDG_digital_euro_schemes_update.en.pdf

- https://www.ecb.europa.eu/paym/digital_euro/investigation/profuse/shared/files/dedocs/ecb.dedocs220420.en.pdf
  - https://web.archive.org/web/20240000000000*/https://www.ecb.europa.eu/paym/digital_euro/investigation/profuse/shared/files/dedocs/ecb.dedocs220420.en.pdf

CHAPTERS

Note: contract is intended as tender in this context.

0:00 Intro
0:55 App and SDK contract
2:48 Glossary of the Digital Euro
3:15 Offine Digital Euro contract
4:27 Digital Euro Aliases lookup functions contract
6:41 Fraud management tender
8:18 Rulebook Development Group updates intro
8:48 Digital Euro actors
9:08 Digital Euro diagram about actors and services
9:50 Digital Euro Services overview
10:31 Digital Euro Services in detail
17:41 Conclusions
18:05 Outro

#euro #digitaleuro #cbdc #centalbankdigitalcurrency #news