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Europe wants to turn Digital Euro (CBDC) into a stablecoin
- deleted 1y ago[deleted]
- NoahZuniga 1y agoThe digital euro is just so bad
- ranguna 1y agoCare to elaborate why? I used to think they'd use this to track citizens, but it seems like that's not the case at all, we'll even have offline transfers.
- robertlagrant 1y agoWhy? I've never heard of it.
- HelloUsername 1y agoPretty good video explaining it: https://m.youtube.com/watch?v=CzkVBXDhTwY https://m.youtube.com/watch?v=CzkVBXDhTwY
- wolvesechoes 1y agoIt is necessary if EU wants to stop relying on US payment companies.
- ebalit 1y agoIt seems like wero [0] is making some progress on this front without relying digital euro or on crypto. 0: https://en.wikipedia.org/wiki/Wero_(payment) https://en.wikipedia.org/wiki/Wero_(payment)
- pjc50 1y agoWhy does Europe want a stablecoin when it has PDS2 and near-instant clearing?
- AvG_DXB 1y agoExactly, you don't really need stablecoins (or digital Euro=CBDC) because you have SEPA in EU
- marcosdumay 1y agoThe goal of money is to be used for trade. All of the examples on the article are failures, and the market cap is at best useless information. The EU at least had a honest attempt of making money, instead of a ponzi scheme.
- wolvesechoes 1y ago> The goal of money is to be used for trade. Actually, to quantify debt.
- AvG_DXB 1y agoNobody is using stablecoins for trade, especially not in Europe. Stablecoins are used by world's largest traders to rebalance liquidity between trading venues - that's 99% of all stablecoin transfers
- latexr 1y agoWhat confusing writing. Every sentence is a paragraph. And look like disconnected ideas. Like bullet points without bullets. Exhausting to read. Looks like memes written by LLMs. Why do cryptocurrency-focused people tend to write like this?
- add-sub-mul-div 1y agoCryptocurrency is the intersection of tech bros who think they know more than everyone else and finance bros who think they deserve more than everyone else. In this era of tech the bigger the opportunity, the worse the people who flock to it.
- M95D 1y agoAnd acronyms everywhere.
- AvG_DXB 1y agoIt's quite straighforward, not sure what's confusing you
- JumpCrisscross 1y agoI recently got pitched stablecoins as a way to lower government borrowing costs. I’m sort of on board with this. If I am investing $1mm of my own money, I care about the yield. If I’m investing $1mm of someone else’s money, and I don’t need to pay them a return, I mostly care about never losing it. This creates price-insensitive demand for safe assets. If you require those safe assets be government bonds, you’ve created pools of price-insensitive demand for your government’s debt. Put another way, we’re financing our deficits with crypto bros. Compared with taxation, that seems like a win-win.
- ab5tract 1y agoHow is it “instead of”?
- JumpCrisscross 1y agoYou’re quoting a phrase that never appears. That’s confusing.
- deleted 1y ago[deleted]
- pjc50 1y agoAs with so many bits of crypto, I have to ask: who's taking the other side of this trade? Who wants their money held with no yield when they could have yield?
- JumpCrisscross 1y ago> who's taking the other side of this trade? Who wants their money held with no yield when they could have yield? Dumb money, criminals, folks selling to the foregoing and a narrow slice of the technically curious.
- AvG_DXB 1y agoThat's an accurate description what's happening. New administration gets that, hence they're pro crypto & stablecoins