The ECB has selected a consortium led by Giesecke+Devrient along with Nexi and Capgemini to develop a comprehensive offline payment solution for the digital euro. The project involves designing, integrating, and implementing the Digital Euro Service Platform (DESP) aligned with EU legislation under the ECB Governing Council’s supervision. The digital euro will complement physical cash, offering users universal access to digital payments anytime and anywhere within the eurozone.
The offline capability allows funds to be stored directly on user devices such as smartphones or cards, enabling local settlement of payments without the involvement of banks or payment service providers. This approach preserves user privacy since transaction details are not registered by third parties. Additionally, the solution promotes resilience by enabling payments without internet connectivity or power supply, characteristics critical to replicating the functionality and trust of cash.
By advancing this technology, the ECB addresses data privacy and system resilience risks associated with digital payments while ensuring broad accessibility and convenience. The consortium will finalize planning and implementation timelines in cooperation with the ECB. The CEO of Giesecke+Devrient highlighted the project’s importance in innovating secure digital payment solutions that retain the privacy citizens expect from cash.
👉 Pročitaj original: CIO Magazine
