European Central Bank is pushing ahead with the digital euro, aiming to reduce reliance on Visa and Mastercard while reshaping Europe’s payments system by 2029.
well it does seem the Euroversion will entail using it as cash anyhow - including privacy - but not sure about anonymity. They’ll keep using cash too ofc
" By complementing cash, the digital euro would make central bank money available for payments, bringing the euro into the digital age. It would support financial inclusion, protect privacy, and make payments easier and more secure for all. This is why we are preparing technically for the possibility of issuing the digital euro once the relevant legislation has been adopted."
I don’t trust the EU when it comes to privacy protection, TBH. Maybe it’s going to offer better privacy than systems owned by US banks, but anywhere near equivalent to physical money? No way.
Iirc the idea was that it’s tracable on the seller side, but not the buyer side. So anonymous, but tracable for tax purposes. It’ll remain to be seen how much data about the buyer can be inferred anyway.
well it does seem the Euroversion will entail using it as cash anyhow - including privacy - but not sure about anonymity. They’ll keep using cash too ofc
" By complementing cash, the digital euro would make central bank money available for payments, bringing the euro into the digital age. It would support financial inclusion, protect privacy, and make payments easier and more secure for all. This is why we are preparing technically for the possibility of issuing the digital euro once the relevant legislation has been adopted."
official ECB link
I hope it works out for you guys, it seems great.
I don’t trust the EU when it comes to privacy protection, TBH. Maybe it’s going to offer better privacy than systems owned by US banks, but anywhere near equivalent to physical money? No way.
Iirc the idea was that it’s tracable on the seller side, but not the buyer side. So anonymous, but tracable for tax purposes. It’ll remain to be seen how much data about the buyer can be inferred anyway.