The Digital Euro: Decoupling from PayPal, VISA & Mastercard
The Digital Euro: Decoupling from PayPal, VISA & Mastercard
The Digital Euro aims to be an electronic equivalent to banknotes and coins, allowing Europe to do its own e-payments. Let's explore this.
From the 7th of April to the 9th, the European Central Bank spoke extensively about the Digital Euro, expressing hope about its potential and publishing an update of its rulebook. Its President, Christine Lagarde, also called for it, wishing to end European reliance on international payment solutions providers such as VISA, Mastercard, PayPal, Stripe and others.
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Sounds less like a replacement for Visa/MasterCard and more like yet another bullshit crypto scam.
No. It's similar to Gnu Taler.
It also says it (indirectly) in the article:
According to the ECB, the Digital Euro is “Central bank money in digital form”. In other words: the Euro, except digital.
Behind this truism, the ECB mean that it would be money, still issued by the ECB, but not taking the aspect of a banknote or a coin, available free of charge for all.
So no blockchain. If implemented correctly this could be not just a replacement for Paypal et al.
No blockchain, but I bet it will be tokenised and put on a blockchain.
So what? They already do that with every fiat currency in the form of stablecoins.
The on and off ramps for fiat on blockchains are difficult. It may be easier with a digital euro.