Europe

8485 readers

1 users here now

News/Interesting Stories/Beautiful Pictures from Europe 🇪🇺

(Current banner: Thunder mountain, Germany, 🇩🇪 ) Feel free to post submissions for banner pictures

Rules

(This list is obviously incomplete, but it will get expanded when necessary)

Be nice to each other (e.g. No direct insults against each other);
No racism, antisemitism, dehumanisation of minorities or glorification of National Socialism allowed;
No posts linking to mis-information funded by foreign states or billionaires.

Also check out [email protected]

founded 1 year ago

MODERATORS

[email protected]

Digital euro will complement cash, not replace it (www.eureporter.co)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

53 comments fedilink hide all child comments

“If we want the digital Euro to become a success, we need a clear and convincing narrative of why we need it in the first place. People need to see the benefits of a digital Euro in their day-to-day lives. The European Central Bank and the European Commission have yet to make a compelling case of why we need the digital Euro and what added value it will deliver,” explained Markus Ferber MEP, the EPP Group Spokesman in the European Parliament's Economic and Monetary Affairs Committee.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 5 points 1 year ago (1 children)

I didn't know a digital Euro was on the drawing board! I am very intriguing but his article is very short and doesn't say very much. Thanks for sharing anyway!

[–] [email protected] 4 points 1 year ago (1 children)

There's not much info because everything is still quite vague. But you can check this article from Euronews as well.

[–] [email protected] 1 points 1 year ago (1 children)

Thanks, this article gives more information about the basic concept. From what I understand it's a digital wallet hosted in your phone (or another device, could be a card as well maybe?), the wallet must be loaded manually and replenish the same way, and from there the payment can take place completely offline. Sounds similar to concept already in use at small scale (e.g: during university we had our students card used like a small wallet that can be use to pay for meals, snacks and parking through out the city).

[–] [email protected] 1 points 1 year ago

Yes in some documents and slides they also talk about a card option.