The European Central Bank (ECB) has been working for years on the introduction of a digital euro. It should be in 2030 so far. But what exactly is behind it? A chance of a comfortable, independent European payment method or a step further to control, surveillance and path of privacy? What do you mean?
The digital euro would be an electronic version of our currency, in addition to cash. The aim is to strengthen Europe’s financial independence in the digital age. Currently, many European payment systems are highly dependent on international groups such as Visa, Mastercard, Apple or Google.
Digital euro – Freedom or stairs?
But what does this specifically mean for American citizens? A digital euro can offer benefits: simple, fast and safe payments everywhere in the euro area, better protection of our payment data from international companies and less economic dependence on Europe.
But there are also critical voices. The fears become that the digital euro is a step in the direction of surveillance and that the money can be completely abolished – keyword “glass person”. Are all our payments then registered and analyzed centrally? Does that mean the end of anonymity when paying as we know it from cash?
Do you think a digital euro is a step towards more control and supervision? How important is your privacy and anonymity when paying? Does the digital euro have to replace or simply add cash in the long term? Which conditions must be met so that you can use the digital euro regularly?
Discuss in the comments below!
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
