Commissioner Paolo Gentiloni: “It will offer important opportunities for our economy. By adapting public currency to the 21st century, we can strengthen its role on the international scene and support the open strategic autonomy of the European Union "
06 Apr 2022
A public consultation launched by the European Commission to survey the opinion of European citizens on the digital Euro, the currency in digital form that the Central Bank could make directly s available to users to supplement cash, and which "could offer cross-border solutions for payments and the spread of instant payments, fostering innovation and competition in transactions - reads a note from the Commission - and strengthening the open strategic autonomy of the EU, responding to the new needs relating to payments of industry 4.0 ″.
According to Paolo Gentiloni, European Commissioner for Economy, the digital euro "will offer important opportunities for our economy. By adapting the public currency to the 21st century - he explains - we can strengthen the role of the euro on the international stage and support the EU’s open strategic autonomy ".
"Digitization has led to innovative changes in the financial system, with consumers increasing use of digital means of payments - underlines Mairead McGuinness, Commissioner for Financial Services, Financial Stability and the Capital Markets Union - Yes expects this trend to continue in the future. As private payments digitize, central bank money also needs to be modernized. The digital form would allow the euro to remain relevant in a digital world and would help make the euro accessible to all, adding to cash ".
The consultation is part of the activities of the European Central Bank and the European Commission to examine from a technical point of view, "a wide range of political, legal and technical issues relating to the possible introduction of the digital euro", the statement continues, with the aim of “gathering the views of interested parties on users' needs and expectations regarding the digital euro and on how to make it available for retail trade, while at the same time preserving the legal tender of cash”.
Among the objectives of the consultation - which goes alongside that of the ECB, carried out between October 2020 and January 2021 - there is also that of collecting opinions on the role of the digital euro in retail payments and in the digital economy of the EU. its impact on the financial sector and financial stability, as well as on anti-money laundering and data protection aspects. The initiative is part of the Commission's strategy on digital finance and retail payments of September 2020.
COMMENT: before the whole world adopts the DIGITAL YUAN, Western States must find a valid alternative. IMMEDIATELY. Our CBDC system that we have called Real Digital Currency is ready, patented and tested. It does not need a block-chain for verification and has ZERO ENERGY COSTS. In 3 months we are able to do the training courses and prepare everything for the Digital Euro to be issued on the market. Without overlapping with the Digital Dollar and our other CBDCs that can technically coexist.