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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]

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“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.

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[–] [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.