Digital Euro is very close

The European Central Bank released a video highlighting the benefits of digital Euro. 

In fact, if you start to advertise money, it means that something is wrong with it. Usually, money does not need advertising.

If you expected the authorities to finally accept cryptocurrencies and officially launch their crypto, you are sorely mistaken. In fact, it is not called cryptocurrency. 

Even if a blockchain is used, the digital Euro will lose its main property - decentralization. Like any CBDC, the new currency will be fully manageable.

Moreover, it will be completely transparent for regulators. Each user will be watched day and night, every financial transaction will be known.

That is, the state will know everything about their citizens. How they spend time, where they go, what their preferences are. All this is the dream of any authoritarian regime! 

So democratic Europe is going to introduce a system of total control over its own citizens. I think it’s called totalitarianism.

ECB took care of fiat banks, which feared that customers would withdraw funds from deposits and transfer them into digital Euro. To prevent this, the digital Euro technically will not be placed on deposit and used for investment. They can only be used for settlements... And why would clients go into numbers?

ECB action is the opposite of cryptocurrencies. Instead of business freedom complete control comes…

And most importantly, such a cryptocurrency surrogate does not solve the main problem - the upcoming debt crisis. It can be handled by a decentralized system, but then the bankers have to step away from the controls, which is almost unbelievable.   

                                                                                                               

I have little idea how this is going to be organized technically. 

We’ll see soon enough!

#DigitalEuro #CBDC #TotalControl #DebtCrisis #FinancialTransparency