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Exploring the Key Features of Digital Euro CBDC

📰10 months ago23 views

Some groundbreaking revelations have recently surfaced regarding the digital euro, capturing the attention of the financial world. The European Commission's recent publication of draft legislation on the digital euro brings the idea of a Central Bank Digital Currency (CBDC) closer to reality. The Digital Euro will not replace physical cash but instead exist alongside it as an additional form of online or electronic payment. It is expected to be available by 2026. Let's delve into the key features of this proposed digital currency:

Independence from Intermediaries: Unlike traditional payment systems like Mastercard or VISA, the digital euro would eliminate the need for intermediaries. Users would be able to make transactions directly without relying on third-party payment providers.

Wide Availability: The Digital Euro is planned to be accessible across the entire Eurozone, available to both consumers and businesses alike.

Backed by European Central Bank (ECB): Unlike cryptocurrencies, th...