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[QUESTION] Privacy and the digital euro
(lemmy.world)
Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.
In this community everyone is welcome to post links and discuss topics related to privacy.
[Matrix/Element]Dead
much thanks to @gary_host_laptop for the logo design :)
Not too knowledged about digial euro, but here's my two cents.
We are already using digital currency. Your card and bank transfer are being monitored(AML), looked at(IRS & credit agencies), and data mined(data brokers) every second. It stared when banks started using electronic records and government ditched the gold standard. Today's currency is mere a certificate that both sides trust there is value in it. IMO I can't see it enables new innovative use cases but a pure gmmick. Just a solution in serach of a problem. There are necessity and usability issues before privacy issue.
And no, I don't think it can replaces physical cash any time soon. If they really want to deprecate physical cash, they need to ensure everyone have a digital wallet, and everyone knows how to use it, including your blinded friend and granny.
They explicitly state that the digital euro is not here to replace cash:
And even less a reason for the digital euro to exist.