Digital EURO - What are your thoughts?

[Karartma1]

In my opinion, the move to a digital currency by the government will have an even greater impact on state control over the citizen economy but at the same time it will allow everyone to start familiarizing themselves with wallets, cryptography etc thus educating people to allowing greater ease of management and certainly of approach towards Bitcoin and cryptocurrencies in general.

The digital euro will be the trojan horse for Bitcoin adoption.
https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html

What are your thoughts?

Digital Euro is just a fancy term. Nothing else. It is still the same. The same fiat currency we are using. Aren't we already using digital fiat currency system? All those cashless transactions are just digital transactions.

The digital euro will be the trojan horse for Bitcoin adoption.

Lol what makes you think it's going to be the trojan horse for bitcoin adoption? Paypal and other e wallet existed even before bitcoin, but people are still using bitcoin. In fact digital euro might make people more interested in bitcoin. Who knows..

Problem is that you don't know how the Digital Euro shitcoin is gonna be implemented. If they create a stupid vetted private blockchain you can be out of the financial world with the click of a button (if they don't like you). Today they can deny you to open a bank account, to have a credit card etc but you still have CASH. What about tomorrow?

[Jackl87]

In my opinion, the move to a digital currency by the government will have an even greater impact on state control over the citizen economy but at the same time it will allow everyone to start familiarizing themselves with wallets, cryptography etc thus educating people to allowing greater ease of management and certainly of approach towards Bitcoin and cryptocurrencies in general.

The digital euro will be the trojan horse for Bitcoin adoption.
https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html

What are your thoughts?

I also saw that news yesterday, which means the EU is now the next country or Union that will research the possibility for a digital currency just like china already announced that they want to introduce a e-yuan. I am not sure though if i should be happy about that announcements. I mean in the end a digital EURO is just a digital version of the "normal" EURO and most people already pay in a non-cash way with that normal euro using their cards. Also i am afraid that the introduction of digital versions of the official currencies may even slow down the adoption of real cryptocurrencies. If you have a digital EURO, why would you still need a cryptocurrency?

[bakasabo]

Can someone explain difference between digital EURO and using bank card for payments? In both payments no physical fiat money are involved. Same digital number, written in binary code is used. I did not understand that concept of "digital currency" as EURO or mentioned here crypto yuan. They are identical as paying with fiat from bank account.

[vv181]

yes, many people prefer centralized services because they know who to blame in case of problems... but we don't always have to see the glass half empty, I think it will be an incentive to carry out some studies on blockchain technology, bitcoin and cryptocurrencies.

Yep, people need shifting blame to others rather to have a burden of responsibility to truly owning and managing the money/crypto they own. I'm not generalizing though, but the whole cryptocurrencies spaces still have a problem with the UX to manage a self-custodian wallet for non-techie users.

About your thought, beforehand, I think it depends on how the way people know about digital currency. If they know about digital currency by CBDC, then it's their gateway entrances to the cryptocurrencies world, but I'd still believe the probability is still low. Nevertheless, if they know about cryptocurrencies before CDBC, then I think people wouldn't bat an eye to it, assuming they acknowledge the truest potency of cryptocurrencies in general.

[MarjorieZimmermanGinger]

In my opinion, the move to a digital currency by the government will have an even greater impact on state control over the citizen economy but at the same time it will allow everyone to start familiarizing themselves with wallets, cryptography etc thus educating people to allowing greater ease of management and certainly of approach towards Bitcoin and cryptocurrencies in general.

The digital euro will be the trojan horse for Bitcoin adoption.
https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html

What are your thoughts?

Each country regulates the financial system very strictly, so crypto money or the like is not allowed without being bound by terms and conditions.
What is feared is the impact of non-maximizing state control on inflation, so the state must prepare several options for security, for now the system cannot be fulfilled by the state given the many risks it faces. while the economic impact in my opinion is not that influential, considering that every citizen who is able to keep up with the times must be treated to convenience in the world of digital money, even when they are serious, more and more citizens are becoming independent millionaires and able to provide convenience to others.

[wajik-tempe]

Maybe it will become stable cryptocurrency like USDT ? or it is seperate from crypto but still in blockchain network ?
It will become a good currency if the transaction speed is faster than bitcoin and the fee is lower than BSC network

[danherbias07]

I'm not talking about investing in the euro or considering it as an alternative to bitcoin... we already have digital euro if we check home banking, credit card balance, etc.

You had the answer with you own words. It's just EURO digitized. Right?
It's not that I don't like people knowing more about crypto currency but this is not how it's supposed to be. There's a lot of ways to search for knowledge and it will not be just because a government tells to use this new tool then receive new intelligence.
I think it's an over reaction just because they upgraded their way of transaction. It's not like that. Knowledge about cryptocurrencies is still individual up until now. The government won't fund anything for their people to learn about the new risk they should take.

[bizfyn_ru]

In my opinion, the move to a digital currency by the government will have an even greater impact on state control over the citizen economy but at the same time it will allow everyone to start familiarizing themselves with wallets, cryptography etc thus educating people to allowing greater ease of management and certainly of approach towards Bitcoin and cryptocurrencies in general.

The digital euro will be the trojan horse for Bitcoin adoption.
https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html

What are your thoughts?

The digital Euro will run on XRP or IOTA. The digital Ruble will run on XRP or UTNP but I think stock trading in Russia will run on NEAR protocol.

Yes. Some participants of the Near Protocol have been talking about this for a long time, and some even found indirect evidence.

[ven7net]

In my opinion, the move to a digital currency by the government will have an even greater impact on state control over the citizen economy but at the same time it will allow everyone to start familiarizing themselves with wallets, cryptography etc thus educating people to allowing greater ease of management and certainly of approach towards Bitcoin and cryptocurrencies in general.

The digital euro will be the trojan horse for Bitcoin adoption.
https://www.ecb.europa.eu/paym/digital_euro/html/index.en.html

What are your thoughts?

I think that was exactly how it was conceived with the creation of blockchain and cryptocurrencies. The world financial system, read the dollar, is bursting at the seams and it was already known before, so we found a solution. However, this does not mean that under the adoption of crypto means the adoption of those cryptocurrencies that are now, on the contrary, every state in the world is interested in creating its own national cryptocurrency, for example, digital EURO. So everything will be as before, just change the financial system and probably the entire currency will become digital.

[tvplus006]

Maybe it will become stable cryptocurrency like USDT ? or it is seperate from crypto but still in blockchain network ?
It will become a good currency if the transaction speed is faster than bitcoin and the fee is lower than BSC network

USDT cannot be compared with national digital currencies, where the issuer is a national bank. Thus, the European Central Bank will act as the issuer of the digital Euro, which will become another form of money along with cash and non-cash. The issuer of USDT is a private company that is not controlled by the national bank.

[slaman29]

It will look like the E-yuan project from china. and I'm sure it's not crypto. so there will be no effect for the market. the digital euro will not be the driving force for people to become more acquainted with crypto. because it's just an E-money issued by the government. they may be familiar with digital wallets. but not with blockchain and crypto.

Except e-yuan is most likely using blockchain tech and e-euro has said from early on that they are most likely not using blockchain. So we're going to have a lot of difference at least for me in terms of smart contract use, and possible hacking attempts by white hackers later on. So if euro going digital doesn't do blockchain, how does that acquant people with crypto?

[Kemarit]

It will look like the E-yuan project from china. and I'm sure it's not crypto. so there will be no effect for the market. the digital euro will not be the driving force for people to become more acquainted with crypto. because it's just an E-money issued by the government. they may be familiar with digital wallets. but not with blockchain and crypto.

Except e-yuan is most likely using blockchain tech and e-euro has said from early on that they are most likely not using blockchain. So we're going to have a lot of difference at least for me in terms of smart contract use, and possible hacking attempts by white hackers later on. So if euro going digital doesn't do blockchain, how does that acquant people with crypto?

I'm surprised that E-euro will not take advantage of blockchain as this is the future. But in any case, this will be a "force-use" for every citizen, so if you are a crypto enthusiast, you don't have a choice really as the government might implement it and will require every citizens to used it as I understand it.

So there's no different from the old and traditional fiat system, in my opinion. As for the white hackers, it might be a good thing to break the system early and find the loopholes. The problem is that when black hackers exploit it, there is a possibility that they might steal some E-euro for themselves.

[Argoo]

It will look like the E-yuan project from china. and I'm sure it's not crypto. so there will be no effect for the market. the digital euro will not be the driving force for people to become more acquainted with crypto. because it's just an E-money issued by the government. they may be familiar with digital wallets. but not with blockchain and crypto.

Except e-yuan is most likely using blockchain tech and e-euro has said from early on that they are most likely not using blockchain. So we're going to have a lot of difference at least for me in terms of smart contract use, and possible hacking attempts by white hackers later on. So if euro going digital doesn't do blockchain, how does that acquant people with crypto?

The Chinese digitalized yuan will definitely not work on blockchain technology. There, they began to create it back in 2014 and followed a completely different path, which is so inherent in China. We will soon see how it will work in practice.
As for the digital euro, I think that it will work on the blockchain technology. Although these will be just state stable coins, that is, digitized fiat and they will have practically nothing to do with cryptocurrency, however, their appearance is simply logical and necessary in the global financial system and, in general, they should have a general positive impact on cryptocurrency. How the digitized currency of the central banks of the states will affect the cryptocurrency, while we can only guess. At the same time, we also cannot influence the process of their appearance.

[temnretr]

I don't believe in any digital state currencies. They will still be regulated by the government. The main feature of digital money is decentralisation and uncontrollability from authorities, but digital euros, rubles, yuan will be under control, so it is the same as just non-cash money but on blockchain instead of bank account. 

[slaman29]

Except e-yuan is most likely using blockchain tech and e-euro has said from early on that they are most likely not using blockchain. So we're going to have a lot of difference at least for me in terms of smart contract use, and possible hacking attempts by white hackers later on. So if euro going digital doesn't do blockchain, how does that acquant people with crypto?

I'm surprised that E-euro will not take advantage of blockchain as this is the future. But in any case, this will be a "force-use" for every citizen, so if you are a crypto enthusiast, you don't have a choice really as the government might implement it and will require every citizens to used it as I understand it.

So there's no different from the old and traditional fiat system, in my opinion. As for the white hackers, it might be a good thing to break the system early and find the loopholes. The problem is that when black hackers exploit it, there is a possibility that they might steal some E-euro for themselves.

It's a great piece of tech I agree, but I also agree it's not necessary to be the future tech for every single type of crypto. e-euro and CBDCs are for sure a great entry for digital currency, but that's an entirely different setup from just saying "crypto".

Like you said, no difference in the fiat system, just on a new highway of digital infrastructure that's all.

[apa don]

Can someone explain difference between digital EURO and using bank card for payments? In both payments no physical fiat money are involved. Same digital number, written in binary code is used. I did not understand that concept of "digital currency" as EURO or mentioned here crypto yuan. They are identical as paying with fiat from bank account.

Yes, that's right, the presence of EURO in the crypto market assets now is good news for those who invest, but you must also think about the presence of EURO, whether this EURO will last a long time, or promise for those who invest in long-term or future projects.
and hope that the EURO asset market can develop in the future.

[so98nn]

Digital euro can’t be Trojan horse really because both of them are from different digital streams. What I mean is, EURO is fixed controlled currency with valuation based on the daily usage. While bitcoin is just decentralised currency with value being generated from investments, trades, p2p transactions and what not. I’m not sure how in any sense Euro gonna hamper bitcoin economic model. With this said, digital euro will just be routine transaction currency which is also being done today when we pay with unified payment systems or QR code etc. So it’s consistently gonna be different virtue all the times.