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IPFS News Link • Central Banks/Banking

European Central Bank pushes ahead with "Digital Euro" CBDC project

• Linkedin - Anton Golub

European Central Bank pushes ahead with "Digital Euro" CBDC project

Nothing is stopping central banks to roll-out Central Bank Digital Currency (CBDC) onto the public.

European Central Bank (ECB) is moving Digital Euro project to a preparation phase - before called "realization phase" ????  - with plans to issue soon afterwards.

ECB is experiencing strong political opposition to their plans to issue Digital Euro.

Everyone is pointing out legitimate concerns over privacy and the lack of limits to government control.  

State-backed digital currency is easily used as a tool of surveillance and social control.

The concerns are valid: in China, the government uses CBDC to limit purchases, coerce citizens or introduce a social credit system.

I'm completely against CBDCs being in the hands of the public and agree that CBDCs will be used as a tool to enforce government control.

CBDCs could only be useful, as a settlement tool in the wholesale market to net-out positions among the banks & regulated financial players.

The concerns around CBDCs are real and the crypto industry needs to react to preserve the right of privacy and decentralization.

#digitaleuro #cbdc #euro #ecb #crypto

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