Designing the digital euro: micro-level

Annelieke A.M. Mooij

Chapter 8 in Designing the Digital Euro, 2026, pp 88-116 from Edward Elgar Publishing

Abstract: This chapter explores the micro-level design of the digital euro, focusing on blockchain infrastructure, application architecture, and interoperability. It evaluates the advantages of private blockchains over public ones, emphasizing privacy, security, and operational efficiency while leveraging coopetition among payment service providers (PSPs). The chapter addresses challenges of on-chain and off-chain storage, balancing the need for (EU-)GDPR compliance with the right to be forgotten and data rectification. It recommends storing minimal personal data, on-chain with encryption, while other data remains off-chain to reduce energy consumption and ensure data protection. Smart contracts and a request-response model are proposed for account switching in emergencies, aligning with legislative requirements for ECB authorization. Lastly, the chapter discusses the need for EU-led standardization and interoperability frameworks to streamline integration across Member States. Together, these elements form a robust foundation for the digital euro's secure and efficient implementation at the micro level.

Keywords: Digital Euro; CBDC; ECB; Blockchain; Architecture; Privacy; Security; GDPR (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035390632
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