Exploring blockchain payment solutions, the Bank of Italy introduces Project Leonidas, a scheme that 14 local banks will drive in an attempt to promote financial stability and consumer protection.
The Italian Banking Association wants a programable digital euro—which the European Central Bank is against—as long as it complements existing commercial bank instruments.
The Associazione Bancaria Italiana (ABI) will be studying the technical feasibility of a digital euro as well as what sets it apart from the existing payment methods.
Italian backs will begin using blockchain technology to speed up their reconciliation processes and increase accuracy in their systems.
