European Central Bank executive board member Piero Cipollone would like to see a sort of European union for digital assets.
A European Central Bank (ECB) official has introduced the idea of a “European ledger” — a continental unified ledger. Such a blockchain could bring European digital assets and money together in one place, leading to greater efficiency and synergy.
ECB executive board member Piero Cipollone said Europe’s traditional capital markets are fragmented and have unharmonized legislation to overcome, but there is a chance to create a unified platform for digital assets. He called that platform a digital capital markets union.
According to Cipollone, more than 60% of banks in the European Union are exploring or experimenting with distributed ledger technology (DLT), and another 22% already use it. But while DLT provides an opportunity to create financial integration, it does not guarantee it, Cipollone said at a symposium hosted by the German central bank. On the contrary:
