Ethereum Builds Institutional Financial Infrastructure with Euro-Linked Digital Currency
European institutions are experimenting with Ethereum as a platform for managing operations under their own control. A consortium of banks is developing a digital currency linked to the euro, which will be issued directly on the Ethereum network.
Matter Labs, the developer of ZKsync, has opened the code of Prividium's permission engine, a distributed ledger technology platform designed for financial institutions. Deutsche Bundesbank is testing and deploying this platform within its own infrastructure.
Prividium allows an institution to run a permissioned chain based on public code, inspect its operation, and modify the core without being dependent on a provider. It uses zero-knowledge proofs to verify certain operations without revealing all information.