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ECB Digital Euro Survey: Privacy is key for Europeans

The European Central Bank has disclosed that it received more than 8,200 responses from its public consultation on a potential digital euro. Privacy Feature Request is Key The CBDC public consultation, which began in October and ended yesterday, had most of its respondents asking for a privacy feature for the potential upcoming digital euro. 43% of all citizens and professionals that took part in the consultation were more concerned about privacy.  “Privacy is considered the most important feature of a digital euro by both citizens and professionals participating in the consultation, especially merchants and other companies,” the ECB noted in…

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European Central Bank exec says Europe must prepare for digital euro

The much-anticipated digital Euro is in the news again as a member of the Executive Board of the European Central Bank, Fabio Panetta, announced in a blog today that Europe “must prepare to introduce a digital euro to complement its cash payments.”  Acceptance of a digital euro by the public is crucial, writes Executive Board […] The post European Central Bank exec says Europe must prepare for digital euro appeared first on AMBCrypto.

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European Central Bank Ramps Up It’s Work on Digital Euro

by Richard Kastelein A special Eurosystem task force from the European Central Bank (ECB) has published a comprehensive report, on the issuance of a European digital currency. They say a digital aka ‘crypto’ euro would be an electronic form of central bank money accessible to all citizens and firms to make payments in a fast, simple and secure way and would complement cash, not wipe it out and the ECB says they will continue to issue cash in any case. “The euro belongs to Europeans and our mission is to be its guardian,” said Christine Lagarde, ECB President. “Europeans are…

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ECB Says Europe Should Be Ready To Launch The Digital Euro

The ECB says Europe should prepare well and it should be ready to launch the digital euro to compliment cash so let’s see more in the crypto news today. The European Central Banks ECB says that Europe should be ready for a digital euro according to the latest reports which form the basis of the public consultation starting on October 12. A digital euro will not replace cash but will only compliment it. The bank president Christina Lagarde said: “The euro belongs to Europeans and we are its guardian. We should be prepared to issue a digital euro, should the…

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ECB Seeks to Eliminate Stablecoins, Accelerate Digital Euro Plans

The ECB’s President and crypto task force view stablecoins as a threat to the sovereignty of the central bank. Europe’s central bank is looking to accelerate plans for a digital euro to compete with stablecoins as a medium of payment and store of value.  ECB Seeks a Digital Alternative to Euro  In 2018, when she was the Managing Director of the International Monetary Fund (IMF), Christine Lagarde first teased crypto-enthusiasts with a possibility of greater inclusion in the future. As the President of ECB, she is looking to protect the sovereignty of central banks by keeping up with the demand…

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Digital euro will not be ‘a substitute for cash’: ECB President

"A digital euro could be a complement to, not a substitute for, cash," Lagarde said. Any digital currency released in the European Union may not fully replace fiat, said the President of the European Central Bank, Christine Lagarde. Speaking at an online meeting of the Franco-German Parliamentary Assembly on Sept. 21, Lagarde stated that the bank was exploring “the benefits, risks and operational challenges” of a European central bank digital currency (CBDC), but fiat currency would likely still play a role in this digital future.  “A digital euro could be a complement to, not a substitute for, cash,” Lagarde stated.…

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Digital Euro will strengthen payment systems: Christine Lagarde

President of European Central Bank, Christine Lagarde said that incoming data suggested that Europe’s economic recovery was uncertain and that introducing a digital Euro would strengthen the European payment system. The President said in a speech addressed to a joint meeting of parliamentary deputies from France and Germany on Monday. Lagarde said the “Eurosystem” was “actively pursuing” to establish the digital Euro while stating how the benefits, risks, and operational challenges of introducing the e-currency were all part of  its launch “initiatives.”  However, the digital Euro would not replace cash and coins and only complement fiat currency, according to Lagarde.…

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French Central Bank Chief Tastes Public-Private Partnership for Probable Digital Euro

The Chief of France’s Central Bank has articulated of the potential benefits of private sector involvement in the development & issuance of a forthcoming European digital currency. Francois Villeroy de Galhau, governor of the Banque de France, supposed in a speech Friday that a public/private partnership would be the most acceptable way to issue a central bank digital currency (CBDC) to retail users. His commentaries were made at a conference held by the German central bank – the same event where the chief of the European Central Bank (ECB), Christine Lagarde, thought Thursday that the European Union had tumbled behind…

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France: HSBC, Accenture, among Selected Candidates to Experiment With Bank of France’s CBDC

Four months after announcing the Program of Experiments to test the potential of a central bank digital currency (CBDC) for interbank settlements, the Bank of France has today (July 20, 2020) revealed eight successful applicants to experiment with the digital Euro. The eight banks include HSBC, Euroclear, and Accenture. What is a CBDC? For the avoidanceRead MoreRead More. The post by Dalmas Ngetich appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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