Yesterday there was a major announcement about the digital euro. Needless to say is that the response to it hasn’t been favourable.
European Central Bank, @ecb
A digital euro would be a powerful push for digitalisation, offering a safe, costless means of payment and allowing intermediaries to provide services with “digital euro inside”, says Executive Board member Fabio Panetta to the @FinancialTimes
Panetta: Central banks are better placed to protect privacy in digital payments: we have no commercial interest in user data and we could ensure that nobody in the payment chain has access to all the information. For small amounts, we could allow anonymous payments 2/3
Panetta: The experimentation done so far gives us a preliminary sense of the pros and cons of different technologies. If the Governing Council gives us the green light in July we will start a formal investigation phase focusing on the design of a digital euro 3/3
It seems that Europe will adopt some sort of a digital currency, a Central Bank Digital Currency, or CBDC, and it will be used to take away freedoms of speech, of movement, of expression, since it will make it ridiculously easy to do so.
The @ECB coin
- – easily reverse transactions
- – easily hacked
- – centralized
- – unlimited inflation
- – easily censored
- – coercive
- – surveillance tech
- – easily confiscated
#BTC – none of the above