You are exactly right. Private currencies will be seen as the enemy, because they are a threat for exactly these reasons. Mall-level security is one thing, syst

You are exactly right. Private currencies will be seen as the enemy, because they are a threat for exactly these reasons. Mall-level security is one thing, systemic monetary power quite another. A Europe which relies on private currency is a continent without controlled inflation, meaning you can just sit on your holdings and do nothing with your money (meaning actually doing nothing, not investing, not giving it to a bank for them to invest. nothing) and yet stay rich. the decrease in investment would mean it gets harder to fund any kind of business. Economic problems would be very hard to fix without the ability to pump money into the system. Also with competing currencies there is potential for chaos. One currency with a lot of savings might just fall over the next day. governments would be asked to convert tax money to prop them up. the euro is good enough for now. maybe it can in the future be modernized with blockchain like technology to get the benefits of currency technology without incurring systemic risk. i dont think there is much choice for europe but to ban these things eventually. especially since facebook is a foreigh company.