The European Central Bank is pushing ahead with plans to launch a digital euro, aiming to provide a pan-European digital payment solution that complements cash, according to Piero Cipollone, Member of the Executive Board of the ECB. Speaking at the Convegno Innovative Payments conference, Cipollone outlined the fundamental design choices and rationale behind the digital euro project, according to notes released on March 13.
As evolving payment trends reflect people’s increasing preference for digital payments, the ECB seeks to make lives more accessible by offering a public digital means of payment that can be used free of charge for any digital transaction in the euro area. Cipollone emphasized that the digital euro would bring cash-like features to the digital world, being available offline, free for basic use, and respectful of privacy while having a pan-European reach.
However, some critics have raised concerns about the privacy implications of the digital euro. In a recent post, WalkerAmerica, the host of Bitcoin Bitcoin-focused Titcoin Podcast, expressed skepticism about the ECB’s claims of privacy:
Author: Liam ‘Akiba’ Wright
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