The European Central Bank has launched a call for experts to learn about use and application cases for the digital euro, including programmable digital payments. This and more news is in this handy daily roundup so you're always up to date with the latest developments in the crypto world.
Digital Euro and programmable payments
📍The European Central Bank's call for discussions on the possible uses and implementation of the digital euro. The central authority for the European Union countries has launched a call for experts in the payment sector to explore different options for the use of the digital euro.
According to publication shared by the bankThe objective of the call is to identify the key potential use cases for the digital euro in the provision of programmable payment services in the retail sector. The ECB also seeks to identify the basic capabilities that the back-end infrastructure for payment settlement with the digital euro should offer in order to facilitate programmable payment services and the standards that would be considered necessary for the same objective, to promote the use of digital currency in programmable payment services.
The ECB's call for proposals will take place next December. Companies wishing to participate have until November 18 to send their proposals to the central entity.
Rolex has plans to create digital products and services
📍Rolex, the next big luxury brand interested in NFTs and the Metaverse. Swiss luxury watchmaker Rolex has filed a trademark application with the USPTO, revealing its interest in creating a variety of products for the virtual world.
According to the application submitted to the United States Patent and Trademark Office, the luxury brand with more than 100 years of existence is interested in developing downloadable gaming software, exploring Virtual Reality and Augmented Reality technologies, creating virtual objects such as digital collectibles and NFT tokens, and creating cryptocurrency wallets, among other things. Likewise, Rolex's registration application reveals that the brand is considering designing smart watches, bracelets, rings, and glasses, as well as devices for data processing and management.
Rolex is also interested in exploring the potential of metaverse technologies, which is why it included the creation of virtual reality helmets and gloves in its trademark application with the USPTO.
“Four Marilyns”, by Andy Warhol, comes to Blockchain
📍The iconic artwork “Four Marilyns” by American artist Andy Warhol will be tokenized on the blockchain as an Art Security Token. The project will be led by the art investment company Artemundi and the cryptoasset bank Sygnum.
Through a statement, Artemundi reported that Andy Warhol's artwork will be tokenized on the platform Desygnate Sygnum. The company said that through the blockchain it seeks to democratize access to investing in top-level art, through the fractional ownership model.
Andy Warhol was a prominent artist who promoted the birth and development of the pop art movement. The work that will be tokenized on blockchain, “Four Marilyns”, was auctioned at Christie's for a total amount of $36 million in 2015.
South Korea concludes its first CBDC test pilot
📍South Korea's central bank has tested a CBDC for cross-border transactions and the purchase of NFT tokens. According to local media outlet Yonhap News, the BoK’s first test pilot for a CBDC for the digital won has been successfully concluded, 10 months after its inception.
One of the main conclusions that South Korea's central bank has reached after its first experiment with a CBDC is that it is possible to implement an offline CBDC for the won, independently of an online CBDC, the outlet noted.
The digital won test pilot was conducted in two phases. The first phase included basic testing for the issuance, distribution and exchange of digital currencies. In the second phase of the pilot, the BoK experimented with offline trading, cross-border payment and remittance sending, and interest payment and repayment, among other things.
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