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Digital euro will complement cash, not replace it
(www.eureporter.co)
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this post was submitted on 03 Jul 2023
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How is this different from normal the normal Euro. I seem to be able to use these digitally just fine. That is without even living in a euro zone country. Various digital payment services just makes thing work. also I know that actual printed cash is a vanishingly small amount of euros in circulation anyway.
The difference is that european citizens shouldn't be required to deal with profit driven companies (banks) to have access to legal currency.
Technology wise, think of it as some sort of crypto euro. The point is to have the un traceability, privacy and security advantages of crypto, but with a currency that can't be speculated upon that is an actual real currency.
If the central European bank sold 1 digital euro for 1 euro, and bought 1 digital euro for 1 euro, always, the currency would always have a real value attached.
Anyway, I have not read anything on the currency, but color me surprised if they do something that I'd not similar to what I mentioned.