The European Central Bank will make a determination on moving forward with a digital euro in October, though President Christine Lagarde cautioned that the central bank is still in the experimental phase.
  • tracyspcy@lemmy.mlOPM
    3·
    1 year ago

    TLDR:

    • The ECB is studying a digital euro project
    • A digital euro would be a CBDC that would coexist with cash
    • A digital euro would offer a convenient and risk-free way to pay
    • The ECB will make a decision by 2024, after public consultation
    • A digital euro could have benefits and challenges for the economy
  • Sowatee@lemmy.ml
    2·
    1 year ago

    What are the implications of a cashless society? The only thing that comes to mind are increased government tracking and no way to buy things should computers / power go down.

  • tracyspcy@lemmy.mlOPM
    2·
    1 year ago

    frankly, the topic of central bank digital currencies (CBDCs) is certainly controversial. On one hand, there are banks and their passion to hold your money, which could be negatively impacted by the introduction of CBDCs. On the other hand, there are powerful companies lobbying for it.

  • massacre@lemmy.ml
    2·
    1 year ago

    Fight CBDCs with everything you have. We already have convenient digital money use via credit and debit. This will not end well and cash and the small privacies it affords will instantly be at risk and that’s just the first layer of risk onion…