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Find out why it’s crucial for peer-to-peer (P2P) payment networks to be able to operate offline. What is a peer-to-peer payment protocol, and how does it work?Is Bitcoin truly a peer-to-peer protocol?Why did Satoshi Nakamoto describe Bitcoin as “peer-to-peer electronic cash”?What about other digital payment systems?What would it take for CBDCs to be considered peer-to-peer?What is machine-to-machine commerce, and how can it benefit from P2P payments?Do we even need these peer-to-peer protocols?Is there a true peer-to-peer payment solution available? What is a peer-to-peer payment protocol, and how does it work? Peer-to-peer (P2P) payment protocols are sets of rules and standards that enable transactions directly between two parties without intermediaries like banks or payment processors. P2P payment protocols increase security with cryptographic encryptions and provide lower transaction fees, as there are no intermediaries involved. Blockchain-based P2P protocols are widely used in th...

Pedro Magalhães, a blockchain developer who claims to have reverse-engineered Brazil's pilot CBDC has found code that would allow accounts to be frozen or drained at will. A blockchain developer who claims to have reverse-engineered the source code of Brazil’s pilot central bank digital currency has discovered functions in the code that would allow a central authority to freeze funds or reduce balances.  He has since argued, however, that there could be situations that such functions could be beneficial. The source code of the Real Digital pilot project was posted on GitHub portal on July 6 by Brazil’s top bank. It was explained at the time that the Real Digital pilot project is intended for use only in a test environment and that the “presented architecture” may be subject to additional changes. Pedro Magalhães — a blockchain developer and founder of tech consulting firm Iora Labs — later that day claimed to have been able to “reverse engineer” the open source code of Banco...

The European Union’s executive branch is set to propose a plan for a digital euro, mandating the ECB to establish usage regulations. The European Union’s executive branch is preparing to introduce a plan for a digital euro. This plan, which is still in the draft stage, calls for the European Central Bank (ECB) to regulate the use of digital currency. However, no specific limits for transactions or holdings have been proposed. To maintain financial stability, the ECB is required to decide on the necessary tools. These tools should not prevent digital euro transactions that do not risk stability and should be applied uniformly in the euro area. Register now and watch live from 11:45 CET: Supervisory Board Chair Andrea Enria appears at a fireside chat at European Financials Conference, organised by Goldman Sachs https://t.co/d9dekrBl3G — European Central Bank (@ecb) June 13, 2023 According to the draft proposal, there might be limits on the use of the digital e...