A person examines connected modules on a large translucent panel.

Infrastructure

Issue, govern, circulate, report.

MAP provides the electronic money infrastructure of a funding programme: the issuance of earmarked funds, the rules governing their use, the circulation of operations and their reporting to the roles concerned.

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The overall picture

Three distinct planes: funding in euros, operations in electronic money, and reporting. The ledger records the entries; it does not create the funds.

Flow of funds How it works, illustration

1. Funding in euros

FunderPays in the programme’s funds.

Safeguarding accountFunds received against the issuance.

IssuanceElectronic money created up to the amount of funds received.

2. Electronic money operations

ProgrammeHolds the envelope and its rules of use.

Authorised holderHas a balance usable within the defined scope.

Authorised recipientReceives the operation if the rule is met.

3. Redemption and monitoring

RedemptionConversion into euros under the terms of the contract.

Operations logTime-stamped events, readable according to access rights.

Flows in euros Electronic money operations The ledger records the entries; it does not create the funds.

Roles

Who does what in a programme

Indicative allocation. The allocation applicable to your programme is settled at scoping and set out in the contract.
Role	Responsibility	What they see
Funder	Decides on the funding, pays in the funds in euros, approves the framework of use.	The envelope, its consumption, the programme’s operations according to their rights.
Programme operator	Administers the programme day to day: holders, scope, agreed adjustments.	The configuration, requests, operations and their reasons for refusal.
MAP	Issues the electronic money, applies the programme’s rules, keeps the journal of operations.	The data necessary to deliver the service and to meet the obligations attached to it.
Holder	Uses the balance allocated to them within the defined scope.	Their balance, their operations, the reason for a refusal concerning them.
Recipient	Receives the operation when it satisfies the rules.	The operations that concern them.

What the infrastructure is not

The electronic money issued is not a bank deposit, bears no interest and is not covered by a deposit guarantee scheme. MAP is not a bank. The offer described here is a private offer, distinct from the Eurosystem’s digital euro project.

Five pages

The infrastructure in detail

Electronic money How funding in euros becomes earmarked electronic money, who holds it and how it is redeemed.

Earmarking of uses The rules a programme can define, what they actually control and what they do not prove.

Traceability of operations The events recorded, their statuses, per-role visibility and the nature of exports.

Ledger and blockchain What the ledger provides, what it does not establish, and the complementary controls required.

Integration Scoping, responsibilities, prerequisites, test runs and day-to-day operation.

Technical scoping

Review your architecture

Describe your set-up: we examine what the infrastructure can carry, what needs to be integrated and what remains to be documented.

Review your architecture