Software can enable Digital Euro offline payments on existing devices ensuring common access
Summary
Back in , "Project Polaris: Handbook for offline CBDC payments" released by the Bank of International Settlements stated that: "Secure elements are relatively expensive and may not be available or suitable in all cases, particularly in countries where smartphones or EMV-based smartcards are not widely available." To achieve accessibility for everyone, the deployment of the Digital Euro should not be dependent on the availability of hardware-based, secure elements within devices, as this method would exclude almost half of the Eurozone population. The Digital Euro might offer dual protection, including a crisis-averting mechanism if either hardware or software fails. Fluency announced a new phase of its ground-breaking Central Bank Digital Currency (CBDC) software system development, Aureumâ¢. Given that Fluencys solution is compatible with Bluetooth, NFC, and QR codes as well as cards, it can be utilised with both new and old devices, making it far more accessible and economical.