EU council endorses offline and online versions of digital euro
The Council of the European Union has endorsed the European Central Bank’s design for a digital euro, supporting the simultaneous launch of both online and offline versions. A key feature is the offline digital euro, which aims to function like cash by allowing device-to-device transactions without internet connection and preventing user activity tracking. However, the system faces security challenges, such as vulnerability to relay attacks exploiting near-field communication (NFC). The European Data Protection Board has expressed concerns, noting that physical proximity—a core feature of cash—is difficult to enforce digitally. Both versions would store private keys in certified devices like smartphones or cards. ECB President Christine Lagarde emphasized that final approval depends on EU lawmakers.
cointelegraph12/22 22:50
