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The European Data Protection Board and the European Data Protection Supervisor issued a joint opinion statement on regulating a digital euro. On Oct. 18, the European Data Protection Board and the European Data Protection Supervisor issued a joint statement on regulating a digital euro, as proposed by the European Commission in July 2023. The regulators made several recommend ations to enhance the personal data protection standards for the European Union central bank digital currency (CBDC).  The authorities suggest clarifying the proposed verification procedure for the maximum allowed amount of digital euro held by an individual account. The current draft allows the European Central Bank (ECB) and national central banks to establish a single access point to each user’s data. Both authorities recommend conducting an assessment to determine the necessity and proportionality of a singular access point. They emphasize that employing technical measures for the decentralized storaThe ...

Paul Brody’s “Ethereum for Business” gives a basic overview of enterprise Ethereum, while providing real-world use cases of how EY clients leverage the technology. The cryptocurrency market has encountered its share of ups and downs over the past year, but blockchain technology continues to see impressive growth as businesses seek digital transformation.  Recent findings from the market research platform, MarketsandMarkets, estimated the global blockchain market size to be $7.4 billion in 2022. While notable, the report indicates that the blockchain sector is expected to generate $94 billion in revenue by the end of 2027. If these findings are accurate, this will result in a compound annual growth rate of 66% from 2022 to 2027. Breaking down ‘Ethereum for Business’ Specifically speaking, many enterprises today are using the Ethereum blockchain to improve outdated business processes. Paul Brody, global blockchain leader for Ernst & Young (EY), told Cointelegraph that he believe...