The creation of a Eurozone-wide digital currency is to be discussed at a secretive meeting of EU bankers this week, a report has claimed.
In many ways, news that Wednesday’s meeting will cover the issue of creating and marketing a Central Bank Digital Currency for the Eurozone is not surprising, with the idea of creating such a highly controllable currency somewhat in vogue amongst the international elite., European Central Bank officials are likely acting in response to the spread of cryptocurrencies as well as, both of which have seen significant public usage since their implementation, though for very different reasons.
Such a CBDC would also conceivably be programmable, meaning that its central controller could be able to lock people’s spending only to certain items, objects or services. Officials within the bloc have been keen to promise that they will not do any of these things however, with ECB executive Fabio Panetta“The digital euro would never be programmable money,” he promised. “The ECB would not set any limitations on where, when or to whom people can pay with a digital euro.”
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