The Digital Euro is Moving Forward: the ECB Wants to Work on a Prototype in 2023

The digital euro and the European Commission continue to work at a high level with the euro. The order is expected to be issued before the 2023 deadline, as the first form of this controlled official advance will begin processing at the end of that year.

The importance of the electronic euro seems clear to the euro area and the European Central Bank, which is currently finalizing its internal audits. This computerized currency could hit the market in 2025, accept everything seamlessly, and compete with legal prepaid currency produced in China and the US.

Dominance of Crypto

Also, some public companies want to earn high-level progressive money, which is an officially sanctioned increase on their money. The mechanized dollar waits for the dollar, the high-level yuan waits for the yuan, and the high-level. Euro waits for the euro the dominance of cryptocurrencies and the rising revenue of traditional. Banks and organizations has sent the country’s banks into a panic, and for a while these computers seem to represent their own currency-related norms.

Central Bank and The Digital Euro

The European Central Bank is immersed in, this work. Christine Lagarde, head of assets, said in July 2021 that 80 public banks wanted to create virtual monetary standards, and one of them was the ECB, which started thinking about something like this in October. 2020.

European Commission

The European Commission is currently reviewing the guidelines that will affect the euro peak: its experts are confident that it will be ready by mid-2023, while ECB experts have until the end of 2023 to start processing the declaration.

The Aid Is

However, assuming all is done right, the mechanized euro could be introduced by 2025 anyway, of course the help would be great for the EU authoritarian process as the guidelines would need to be shared with member states and the European Parliament. . appropriate command. Consider that it will eventually become a colony.

The Digital Euro

Financial Officer

In addition, the EU had to spend much of the month on public surveillance, for example trying to determine how. European citizens will spend their big euros EU Chief Financial Officer Mairead McGuinness announced the plans at a fintech event last Wednesday.

Digital Euro and the Financial Structure

By the same token, Towards the end of the public meeting, an assessment will be. Made of the impact that this The Digital Euro could have on a possible destabilization of the financial structure. In the first place the profiles are there, and as we have understood before, the modernized on the other hand.

Euro could fundamentally change as designed by the usual merchant banks: they would lose the explicit. Driving job out of nowhere, leading to an expected decline in the liquidity of their banks. expecting people to exchange their money for this money, controlled and administered by the ECB.

The Digital Euro

In addition, some public banks must prevent the explosion of digital currencies from threatening their authoritarian monetary principles. Furthermore, they told the ECB that the digital euro will “complement cash, not replace it”, but in both cases. The answer to the interest. In cryptocurrencies like Bitcoin or Ethereum, they are rarely used here for everyday. Transactional tasks, unless. they have a subservient or optional advanced form of money, which is trying to become legend there.