European Central Bank survey about digital euro

[baro77]

Interesting survey from European Central Bank about Digital Euro for citizens and many professionals: worth answering for anyone having something to say:
https://decrypt.co/46852/european-central-bank-head-asks-public-about-decentralized-euro

Survey direct link: https://epsilon.escb.eu/limesurvey3/434111

[BIT-BENDER]

Digital euro if it happens will not be like Bitcoin -digital currency- which is decentralized, the digital euro would still be a form of euro - in digital format-  no matter how they want us to believe that there would be no intermediaries.
 The government had, may never stop to get their anchor hooked on the digital currency, and this is a new trial from them, decentralization still is our difference from them -Government currency- and this is what the would want to bridge.

[baro77]

Yes of course all CBDC are something very different from Bitcoin and from any decentralized coin. I just appreciate the survey which deals with the topic in quite open way, unusual for banking environment, and the possibility to express our opinion as European citizens and worldwide professionals: so I have just thought to share this possibility posting the survey link here.

Of course this doesn't mean to be merciful judging actual implementation of Digital Euro, when and if we will have it

Bye!

[acquafredda]

The ECB’s survey describes “two approaches we can take to make a digital euro work, one that requires intermediaries to process the payment and one that doesn’t.” In the first, the ECB describes a digital euro that “has no need for the central bank or an intermediary to be involved in the processing of every single payment.” This would “feel closer to cash payments, but in digital form – you would be able to use the digital euro even when not connected to the internet, and your privacy and personal data would be better protected.”
In the second approach, intermediaries would record the transactions. The first approach takes a leaf out of crypto’s book: Bitcoin was built to end reliance on intermediaries.  

Do we seriously believe any central bank in the world would go as far as creating a digital currency that does not rely on intermediaries and that would preserve the privacy of payments? Come on  

[Oshosondy]

Digital euro, there will be more transparency in the cryptocurrency, much of privacy invading means the governments of European union has finally been able to penetrate their citizens. The fiat lacks privacy but digital euro will make it worse, people and their digital euro will be easily tracked, and what known to people is the information hackers needs in order to impersonate or trying to hack someones device for money stealing.

[20kevin20]

This would “feel closer to cash payments, but in digital form – you would be able to use the digital euro even when not connected to the internet, and your privacy and personal data would be better protected.”

I'm very, very curious to know how my privacy and personal data would be better protected through this digital fiat than using cash, because I can't remember filling in personal details for the past hundreds of cash transactions I've had, to be honest.

Also, I'm wondering why the title talks about a supposedly "decentralized" euro? I'm quite sure an ECB-created currency would never be decentralized. If there's something ECB and Lagarde despises, it's losing control.

[Rengga Jati]

Is that true when they someday create the Digital Euro, it will be decentralized? I don't think so and I also didn't find the exact statement that stated that in the article.
Well actually, it is about

The European Central Bank is asking the public about the kind of digital euro they want to use.

It is different between the digital euro and also something that is decentralized. I personally cannot believe how a central bank will create their digital euro but it is decentralized, they will not regulate it. It seems too strange to know.

If you think so, others also have their own thoughts. So, we are just sharing here, open a discussion, but why should you say bye for this?

Bye!

[baro77]

Here I am

If you think so, others also have their own thoughts. So, we are just sharing here, open a discussion, but why should you say bye for this?

Bye!

Sorry, my "Bye!" was just to be kind, I didn't want to close the thread or make you think I'm not open to opinions different than mine.
Even because I share the same doubts of many of you... my point is just that perhaps eventually the ECB will act as an incumbent, but I like the idea we can express our ideas in the survey (even if I understand that maybe it will be useless)

[fiulpro]

I have tried answering this kind of question many times, I do believe that many people fail to understand the fact that , this would be nothing but : Fiat 3.0
It's backed !
It's by the government!
It's being tracked !
It's not going to be much volatile because it's backed in the first place!
Why should people go from cryptocurrencies to digitalized currencies like : digital dollar ? They are not even cryptocurrencies, they are just digital currencies, for example: digital dollar, digital rupee etc.. some might say it's because of security.
But security backed by the government during a pandemic is fleeting.

Personally I do think should refrain from even getting involved with currencies like this , we already have things like this and the Government might just be trying to manipulate people into Believing that it's something just close to cryptocurrencies like Bitcoins but it's not.

P.s. sorry I didn't do survey since the e-mail was necessary

[boyptc]

I have tried answering this kind of question many times, I do believe that many people fail to understand the fact that , this would be nothing but : Fiat 3.0
It's backed !
It's by the government!
It's being tracked !

Well, I agree with these.

It is another fiat that just made like cryptocurrencies to make it look like they are in as there are people who doubts crypto and dont like it.

But under them, they can make it easy for the citizens to adopt.

[Mauser]

Digital euro, there will be more transparency in the cryptocurrency, much of privacy invading means the governments of European union has finally been able to penetrate their citizens. The fiat lacks privacy but digital euro will make it worse, people and their digital euro will be easily tracked, and what known to people is the information hackers needs in order to impersonate or trying to hack someones device for money stealing.

The European central Bank should definitely be able to create a stable digital currency. Demand for a digital Euro is strong for younger people. Buy if I look at my parents, they would never use it. I'm general I would say we are looking for coins that are outside of the reach of governments and central banks. But with such a reknown institution like the ECB it could help a lot to spread the ideas of crypto currencies and make them more attractive.

[CryptoMargo]

Digital euro, there will be more transparency in the cryptocurrency, much of privacy invading means the governments of European union has finally been able to penetrate their citizens. The fiat lacks privacy but digital euro will make it worse, people and their digital euro will be easily tracked, and what known to people is the information hackers needs in order to impersonate or trying to hack someones device for money stealing.

Yes, it is certainly an infringement of the right to private life I believe that states should not have the right to it

[peter0425]

Interesting survey from European Central Bank about Digital Euro for citizens and many professionals: worth answering for anyone having something to say:
https://decrypt.co/46852/european-central-bank-head-asks-public-about-decentralized-euro

Survey direct link: https://epsilon.escb.eu/limesurvey3/434111

There is no comparison towards Bitcoin because Surely this is centralized currency in form of Digitally .of course why would they create a Decentralized in which even them cannot control if happens.

Bye!

Cool as if you are living the forum ...