Second, the ECB should be able to carry out the tasks assigned to it effectively and rigorously without any risk to its reputation. Third, there must be a strict separation between the ECB’s new tasks concerning supervision and our monetary policy tasks assigned by the Treaty (Art. 25 SSM Regulation).
The requirements imposed on regulated providers cannot currently be met by blockchain technology, or can only be met with difficulty. This concerns, for example, the question of how to engineer absolute finality. Furthermore, the know-your-customer requirements need to be observed and the confidentiality of transaction data must be ensured.