The Bank of Spain is planning to introduce a wholesale CBDC first to experiment new project.
IOTA’s Smart Contracts Protocol ICSP and permissioned smart contracts make the blockchain an ideal fit.
Spain’s central bank i.e. Bank of Spain is the recent one to be joining the list of central banking institutions willing to launch their own central bank digital currencies (CBDCs). Earlier today, the central bank of Spain asked financial institutions and other tech providers to submit their proposals for the initiative by Jan 31.
As per the official statement from the bank, the program seeks to simulate the use of CBDC for wholesale transactions. This would typically involve the transaction of funds between banks and other financial institutions.
The Bank of Spain stated that their plan to launch a wholesale CBDC isn’t related to all the work that the European Union is doing on a retail Digital Euro. As per the official announcement, the central bank will experiment with three major ar

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