European Central Bank is exploring blockchain and MPC technology

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The central bank has been experimenting with multiparty computation, which could support the entire European economy in the future.

Central banks worldwide are increasingly exploring blockchain technology adoption, with the European Central Bank being the latest example.“We did one with the European Central Bank on liquidity matching… And a number of applications on CBDCs have been actually to remove the central bank out of the equation and replace it with a blockchain.”

“Then the issue is if you have multiple entities on the blockchain and it's all encrypted stuff, how do you do liquidity matching? That's a really big issue.”March— which enables multiple parties to share data for computing without revealing the actual data — can theoretically support the entire Finnish economy.

 

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