Hello dear readers, on this occasion I wanted to share with you all an interesting news regarding the real intentions of the European Union to create its own cryptocurrency, this according to statements by executives of the European Central Bank who have disclosed their plans to issue a digital euro.
In the midst of war, the European Union, as well as other world economies such as Russia and China, has seen how the emergence of new financial options has for some time been undermining the conventional economic model, and the best proof of this is provided by cryptocurrencies.
Cryptocurrencies, among which Bitcoin deserves special distinction and prominence, have become very interesting alternatives when it comes to understanding the current market model, in the current context, a currency of this kind should tend to increase its value due to its exact amount due to its algorithm.
In this regard, the European Central Bank (ECB), the highest body in charge of monetary policy in Europe, is aware that decentralization can cause significant movements in the world. For this reason, it is determined to counteract the effect that this type of securities is having on the transaction market.
Europe is shielding itself against Bitcoin with the future creation of the digital euro, curiously, one of the main premises of cryptocurrencies lies in anonymity, with all that this entails. A future digital euro would be anything but centralized, so part of its appeal would be lost.
Among the reasons for the European Central Bank's bet, it is argued that digital payments and transfers are increasing over the years, leaving aside the conventional system of buying and selling in cash. Under this financial model, the presence of this technology, based on the blockchain, could popularize an alternative method of payments.
SOURCES CONSULTED
CointeleGraph. European Central Bank chooses Amazon and 4 other firms to prototype digital euro app. Link
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The cover image was designed by the author: @lupafilotaxia, incorporating image: Gearrice
