ConsenSys presents whitepaper for Ethereum-based central bank digital currency in Davos - Crypto News Flash

The Ethereum incubator ConsenSys has presented a whitepaper at the World Economic Forum for the development of a central bank digital currency (CDBC) based on the Ethereum blockchain. At the World Economic Forum in Davos, the ConsensSys team around Ethereum co-founder Joseph Lubin has published a whitepaper for an Ethereum-based central bank digital currency (CDBC).

According to the whitepaper, the use of a “permissioned blockchain” based on Ethereum could help central banks to maintain this control, as ConsenSys describes: Central Bank Digital Currencies are digital assets that are accounted for using a single ledger (distributed or not) that acts as a single source of truth. This is why the Ethereum blockchain is ideal for CDBCs Specifically, ConsenSys proposes a model in which the central bank establishes a private, permissioned Ethereum Network in which intermediaries act as nodes.

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