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> ECB officials have suggested a cap of €3,000. I wonder how they will implement the infrastructure. Having this will be an awesome replacement to the limitat

• avidiax 3y ago
  > Having this will be an awesome replacement to the limitations of the visa/mastercard monopoly Yes, they are a 2-3% leech on the economy in the US. In Europe, the regulators there have kept it a bit lower, which is reflected in EU credit cards having few benefits and high fees. > I wonder how they will implement the infrastructure. That's also what I wonder. A description of the cryptography and system would be interesting. If this is only as anonymous as cash (i.e. unique serial numbers on every bill), then this would still be a step backwards, as it would be trivial to track individual e-bills around. I am also surprised that they allow up to €3,000. This would make smuggling far easier/denser than physical €500/CHF1,000/USD100 notes. It could even allow a relay-attack smuggling, where the wallet is located far away from where the funds are used.