ECB Board Member Schnabel Calls for Central Banks to Embrace Blockchain Infrastructure

European Central Bank (ECB) board member Isabel Schnabel has called on central banks to adopt blockchain-based infrastructure, urging them to 'go onchain' as financial activity increasingly incorporates distributed ledger technology.

Schnabel's comments reflect a broader debate within the central banking community over how monetary authorities should adapt to the growing role of blockchain in finance. The shift has prompted central banks to consider whether existing frameworks and infrastructure will remain sufficient as transactions and financial assets move onto digital networks.

The prospect of more financial activity taking place onchain has increased pressure on policymakers to examine how central bank money and existing financial infrastructure fit into an evolving digital market. Central banks have already been studying technologies that could support faster or more integrated settlement systems, while financial institutions have continued testing blockchain applications in areas including tokenized assets and payments.

Schnabel's remarks place the ECB within a wider institutional discussion about whether central banks should participate directly in emerging blockchain infrastructure rather than simply regulate its development from the outside. The question is particularly relevant as private-sector financial networks and digital asset infrastructure develop alongside traditional banking systems.