Is the EU preparing to pilot a Central Bank Digital Currency by 2028?
06/29/2023 •
Yes — Most of the comments suggest that the EU is in the process of preparing for a Central Bank Digital Currency, despite some skepticism and uncertainty.
Stats
| 57% | 172 | |
| 17% | 52 | |
| 17% | 52 | Mastodon |
| 7% | 20 | Hacker News |
| 1% | 4 | 4Chan |
| 43% | Neutral |
| 36% | Negative |
| 20% | Positive |
| 51% | 😱 Fear |
| 38% | 😃 Joy |
| 9% | 😡 Anger |
| 2% | 😢 Sadness |
| 0% | 🥰 Love |
| 0% | 😯 Surprise |
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Story
- The EU is planning to pilot a Central Bank Digital Currency (CBDC), also referred to as a digital euro, by 2028.
- The European Central Bank President, Christine Lagarde, has framed the need for a digital euro as a matter of "resilience" and the safeguarding of European payment autonomy.
- Other countries, like Mauritius and Ukraine, have already initiated pilot projects or announced plans for their own digital currencies, suggesting a global trend towards CBDC adoption.
- There are contrasting views regarding the EU's plan with some people supporting the digital euro for its potential to modernize the financial system while others express skepticism about increased government control and surveillance.
- Despite plans for a digital euro, it's highlighted that the European Central Bank has not made a final decision and the earliest usability of the digital Euro would be around 2027.
- Regular cryptocurrencies are not commonly used for regular transactions due to concerns about volatility, inconvenience, and complexity.
- There is a notable anticipation among people regarding the launch of a digital euro.
- Although the introduction of CBDCs could offer some benefits, there are also concerns about the potential impact on the cryptocurrency market.