2023-06-30 17:58:48
Not everything is visible: some aspects of the digital euro are still unclear, but others are not. Image: dpa
It is very likely that the digital euro will come. But how do the means of payment differ in terms of use and data protection? What does the digital euro have to do with a cryptocurrency? We answer the most important questions.
Will the digital euro come for sure?
So far, the EU Commission has only created a legal framework within which the digital currency can be designed. Whether and when it actually comes is up to the money-creation sovereign, the ECB. However, since this has been working on the introduction for a long time and it is the heart project of its President Christine Lagarde, failure is extremely unlikely. According to estimates by the Bundesbank, however, once the introduction has been decided, it will still be three years before the euro is issued.
What does the digital euro have to do with a cryptocurrency?
Not much anymore. Originally there were plans to base central bank money on a blockchain, but this has been moved away. Instead, the ECB will likely provide a clearing system similar to those that currently clear payments between commercial banks. Jochen Siegert, who advises the ECB as a member of a panel of experts, assumes that access will not be made available to customers, only to banks.
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