The European Union (EU) accelerates its plan to create a digital euro, a central bank digital currency (CBDC) that is about to compete with a wide range of dollar-linked stubcoins such as USDT and USDC.
According to the Financial Times, among alternatives studied by the European Central Bank (ECB) as technical basis They find networks like Ethereum y Solana.
According to the aforementioned sources, the ECB evaluates “different technologies (centred and decentralized) in the development of digital euros, including decentralized registration technologies,” but no decision has been made yet.
If the digital euro works on public chains (such as Ethereum or Solana), Can be exchanged worldwide without frictionit will increase its circulation and use.
However, European officials will have a cautious position in the face of that scenario. The public nature of transactions on networks such as Ethereum and Solana raises questions about user privacy. This is the delicate aspect of CBDC.
The criticism arrived quickly. The X person questioned the technical viability of the project. «They stop with false news. EU Stablecoin must process more than 100,000 transactions per second to be able to run. Neither Ethereum nor Solana could achieve it in their dreams.
This comment reflects the background debate: networks provide transparency and openness, but Current scalability limitations They contrast with the demands of continental-wide financial systems.
At the time of this article, there is an average of 3,800 transactions (TPS) for Solana and about 300 TPS for the Ethereum Ecosystem (L1 and L2).
It appears that users who published 100,000 reference TPs on X are not ecosystem privileges, Potentially used across the continent You need a structure that supports infamous amounts of manipulation.
In that context, the current TPS of Ethereum and Solana They seem to have them far away References for 100,000 TPs that must be “executable” in a digital euro project.
The reasons behind the troubles of Europe
The rush for this project will also accommodate recent US movements.
The EU “started rethinking its digital euro plan” after approval of the So-Caled Genius Act, which provides a legal framework for dollarized stubcoins.
European officials fear this regulation It further promotes the use of digital assets based on US dollars. weakens the euro’s international status.
A spokesman cited by the media summarised that “he is beginning to produce conversations before the act of genius did not exist.”
For the ECB, the problem is not just technology but strategic. This is to ensure that the common currency remains a central role in the digital economy.