Christine Lagarde announced the start of the investigation phase of the digital euro project.
We have decided to move up a gear and start the investigation phase of the digital euro project. In the digital age people and firms should continue to have access to the safest form of money – central bank money.
(THREAD) We have decided to launch a project to prepare for possibly issuing a digital euro. We will look at how a digital euro could be designed and distributed to everyone in the euro area, as well as the impact it would have https://ecb.europa.eu/press/pr/date/2021/html/ecb.pr210714~d99198ea23.en.html… 1/3
Our experimental work has already allowed us to identify possible ways to protect privacy. It has also shown that the energy needs of the infrastructure would be negligible compared with the energy consumption and environmental footprint of crypto-assets, such as bitcoin 2/3
A digital euro will be successful if it adds value for people, merchants and financial intermediaries in the euro area, says Executive Board member Fabio Panetta explaining the latest decision in The ECB Blog. Read it here https://ecb.europa.eu/press/blog/date/2021/html/ecb.blog210714~6bfc156386.en.html… 3/3
Alex Gladstein listed out some of the Digital euro “features”:
- An end to the financial privacy of cash
- Negative interest rates to discourage savings
- Easily frozen funds
- Blacklists for “criminals”
- An SoV/MoE/UoA tied to debasement
- They will decide on what you can spend them on
- They will have an expiration date
To resist, Europeans can use Bitcoin, the open monetary network. Figure out how to get bitcoin today.