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❕NEWS Future of Digital Euro ‘Not Clear Yet' Former Eurogroup Official Says

Y

Yusra31

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Experts have expressed concerns about the euro's uncertain future a week after the European Central Bank (ECB) chose to move on with its plan to establish a digital form of the currency. The ECB's Governing Council approved the project's next phase, the "investigation phase," on July 14. The stage will span 24 months, during which time critical design and distribution challenges will be addressed.

The outcome is not apparent now and might not be for a long time,says Hugo Coelho, former chief of staff to Eurogroup President Mario Centeno and partner at Forefront. The Eurogroup is a loosely organised but politically significant gathering of finance ministers from the 19 EU member states that have embraced the euro.The digital euro is designed to reflect euro notes and coins in computer form, according to what we know so far.It will however be stored directly in accounts issued by the ECB, rather than at commercial banks, unlike current bank money.The central bank aims to utilise it as an additional payment method, but has stated that it would not be used to replace regular currency.
 
I mean.. as everything else like china they will first enter trials before they can give a forecast if it's going to be successful.. until it's officially launched nothing is certain
 
Well , I believe that it is a matter of time before they will come to a conclusion especially when other countries might have succeeded with their own CBDC
 
The CBDC is simply growing higher in momentum most of the countries that needs centralization are simply adopting such project to regulate how their own coin it's been used.
 
I believe the European central bank didn't just took the decision, they must embark on consultation and see the possibility in the project , it is too early to crictisize nor been pessimistic.
 
Experts have expressed concerns about the euro's uncertain future a week after the European Central Bank (ECB) chose to move on with its plan to establish a digital form of the currency. The ECB's Governing Council approved the project's next phase, the "investigation phase," on July 14. The stage will span 24 months, during which time critical design and distribution challenges will be addressed.

The outcome is not apparent now and might not be for a long time,says Hugo Coelho, former chief of staff to Eurogroup President Mario Centeno and partner at Forefront. The Eurogroup is a loosely organised but politically significant gathering of finance ministers from the 19 EU member states that have embraced the euro.The digital euro is designed to reflect euro notes and coins in computer form, according to what we know so far.It will however be stored directly in accounts issued by the ECB, rather than at commercial banks, unlike current bank money.The central bank aims to utilise it as an additional payment method, but has stated that it would not be used to replace regular currency.
The problem with the digital euro is that it needs to fit to all political agendas of 19 members states of the EU that have the Euro as currency. This makes the development a long and slow process but by the end, I am confident they'll be able to design a great and resilient currency
 
I believe the European central bank didn't just took the decision, they must embark on consultation and see the possibility in the project , it is too early to crictisize nor been pessimistic.
Sure it needs time just as decentralized projects is still trying to get good ground in the cryptocurrency world. The only issue is that it is decentralized
 
The digital euro is centralised just like the digital Yuan so personally I don't see much challenge for the project other Security measures to prevent hacking of the system.
 
Euro has gone stronger after the announcement because it was trading at 1.115 last time I saw but last timei sell it was possible to sell at 1.131 which shows positive trend from the move
 
it's good to see the arising speculation for the creation of a digital euro ,it would really give in more development, making more people to basically invest in it to carry out payment and others ,the digital euro would have many development attached ,with people looking towards it to carry out transaction b
 

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