Today, at Crypto, the European Central Bank has selected a technology partner for the Digital Euro Project. Plasma founder Paul Faecks refused to sell insider claims after XPL tokens plummeted more than 50%, and Swedish lawmakers proposed exploring the National Bitcoin Reserve.
European Central Bank chooses digital euro technology partners
The European Central Bank (ECB) has announced a framework agreement with the technology provider responsible for the components of the Central Bank Digital Currency (CBDC) as part of the preparation stage for the potential digital euro launch.
In a notice on Thursday, the ECB said it had reached an agreement with seven entities and at least one entity to provide services related to fraud and risk management, secure exchange of payment information, and possible digital euro software development. Some companies have used AI to detect fraud and detect security technology company Giesecke+Devrient.
“Following the conclusion of the framework agreement, G+D and other successful bidders will work with the ECB to complete their plans and timelines,” said Dr. Ralf Wintergerst, CEO of Giesecke+Devrient. “Under the guidance of the ECB Management Council, in line with EU law, this work will cover the design, integration and development of digital Euro Services platforms.”
Other components and services offered by technology companies include “alias lookups” that allow digital Euro users to submit or receive funds “without necessarily knowing the details of other end-users’ payment service providers.”
Giesecke+Devrient is responsible for engineering and development where users can make or receive digital euro payments while offline.
Plasma founder refuses to sell insiders after XPL tokens plummet by more than 50%
Plasma founder Paul Faecks denied the insider’s sales charge after the project’s native token XPL dropped more than half its value over the weekend.
On Thursday, FAECKS rejected speculation that the team offloaded the tokens to the market, highlighting that investors and team allocations remain locked on a one-year cliff for three years. “No team members have sold XPL,” he said.
Plasma officially launched its mainnet beta along with the native Plasma (XPL) token on September 25th. Layer-1 Blockchain is designed to make Stablecoin Payments cheaper and faster.
According to TradingView data, XPL has since launched at nearly $1.70 on Sunday, reaching $1.70 on Sunday, and steadily reaching $0.83 by Wednesday.
Due to the dramatic decline, many community members suspected that their teams were engaged in selling time-weighted average price (TWAP). In this algorithmic strategy, large sell orders are split into smaller, equally sized orders, each run at normal time intervals.
Community members quickly turned to on-chain analysis to investigate the flow of XPL after dumping.
Independent detective Manamun pointed out the movement from the Plasma Team’s safe. Members of the community said they sent over 600 million XPL tokens in exchange in the days leading up to the release.
Swedish eyes entering Bitcoin’s “Digital Arm Race”
Riksdag, two members of the Swedish Parliament, proposed to investigate the country’s efforts to tackle inflation and establish strategic Bitcoin reserves to diversify its holdings.
In his proposal to Rixdug on Wednesday, Swedish Democrats Dennis Diukarev and David Perez said that, given that other countries like the United States are already in the process of creating reserves, Sweden should “join this digital arms race, embrace the potential of Bitcoin, and join a group of countries that recognize it.”
Like the US, Diokarev and Perez came to mind the idea of funding the reserves through seized Bitcoin, but said the authorities’ decision to manage Bitcoin (BTC) is a “open issue” for now.