European Central Bank announces 'E-Euro': Should Bitcoin worry?
DW, 15 Jul 2021
The European Central Bank is announcing plans for the 'E-Euro.' A new digital currency. Proponents say it'll strengthen Europe's digital and monetary sovereignty and keep the Eurozone competitive.
A digital Euro would have the same value as analogue cash or the money in our bank accounts.
It would be issued by the ECB, or national central banks, to private persons and companies.
E-Euro deposits would probably be capped at a value of around 3000 euros. That's to ease fears the digital coin could make the ECB a competitor to banks.
But a survey by Germany's central bank says most consumers here reject a digital Euro. 56 percent of households saying it would add no additional incentive over current payment methods. And they are worried about the new Euro's security.
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