Central bank digital currency with privacy protection possible, according to ECB

Research conducted by the European Central Bank (ECB) claims that it is possible to issue a central bank digital currency that protects user privacy. ECB report The report titled “Exploring anonymity in central bank digital currencies,” saw the European System of Central Banks (ESCB) join hand with R3 and Accenture to create a proof of concept (PoC). The PoC enabled the ESCB to conduct experimental research regarding central bank digital currencies (CBDCs) and their potential benefits to the public. The ESCB used R3’s Corda platform to develop the PoC. The PoC involved four parties including two intermediaries, a central bank