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Digital euro will complement cash, not replace it (www.eureporter.co)

submitted 1 year ago* (last edited 1 year ago) by NorskSud to c/europe@feddit.de

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“If we want the digital Euro to become a success, we need a clear and convincing narrative of why we need it in the first place. People need to see the benefits of a digital Euro in their day-to-day lives. The European Central Bank and the European Commission have yet to make a compelling case of why we need the digital Euro and what added value it will deliver,” explained Markus Ferber MEP, the EPP Group Spokesman in the European Parliament's Economic and Monetary Affairs Committee.

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[–] Jannes@lemmy.world 25 points 1 year ago (9 children)

I would like to see how the Digital Euro works in regards to privacy laws. If all transactions are traceable I would see this as potentially a dangerous move for EU citizens, whilst at the moment we may trust our governments to a degree we also see a substantial move towards Fascism all over the continent.

[–] Wander@kbin.social 9 points 1 year ago (7 children)

I think it is supposed to be untracable in the same way cash is. It's even supposed to be usable offline.
Whether or not they will accomplish this is yet to be seen.

[–] GataZapata@kbin.social 2 points 1 year ago (1 children)

That would be nice and eliminate my main fear in regards to this. Do you have any info on how that is supposed to work?

[–] Wander@kbin.social 3 points 1 year ago

Nothing is decided yet, according to their website:

The Eurosystem is experimenting with different approaches and technologies to making a digital euro available. This includes both centralised and decentralised solutions such as DLT. No decision has been taken yet, however.

They just have announced their plans, but its still many years away

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