4 ms·
> Every part of the digital euro will be built by Europeans. Every company hired to work on it must be European owned. If the ownership changes, if it falls int
by spwa4 10mo ago
> Every part of the digital euro will be built by Europeans. Every company hired to work on it must be European owned. If the ownership changes, if it falls into non-European hands, that company is dropped from the project. A substitute takes its place.
... but you need your Apple or Android phone to use it at all?
- wiseowise 10mo agoBaby steps.
- kwanbix 10mo agoThose china built products you mean?
- Etheryte 10mo agoThere is massive incentive for all banks to get onboard with this as soon as it's available. Paying a few percent vs nothing at all is the easiest sales argument ever.
- rafaelmn 10mo agoThis sets a bad precedent. I'm a software contractor from EU, but I don't usually work for EU clients, and I don't want to see the trade wars spill into contracting/dev work - but fully expect it given current trends.
- arnvald 10mo agoYou can’t have it all at once. Hopefully one day there’s an alternative OS that’s not owned by and American company, but that shouldn’t stop us from building other things in the meantime
- samus 10mo agoThat's a different dependency that can be cut at a later point, if necessary. They don't represent the same systemic risk as payment platforms.
- ben_w 10mo agoFor now. Android is open source, except for specifically the bits that anyone who cares about being sovereign in the face of US interests would want to replace anyway. Also, last I checked the phones themselves are either made by Foxconn, BYD, or a few Taiwanese-owned factories, so while yes Europe has a problem with the physical devices, it's the same problem the US already has.
- jeroenhd 10mo agoThese apps require remote attestation which is almost always implemented through Google Play. In theory, if you get on the US' annoyance list (i.e. if you're involved in investigating Israel's genocide), Google could be made to kill your phone's ability to use the EU's app. That's what the bank cards are for, of course; they don't need a phone.
- ben_w 10mo agoThe cards help, certainly. I think the EU (both as a union and as member states) are at risk of the USA doing shenanigans here, particularly due to Project 2025 cutting out the checks and balances that ought to slow down the Executive branch, where the USA moving as slowly as it normally would, would give the EU time to move. But also, I do also think the various European governments are taking the threat of the US doing nonsense things seriously, and are doing the things to mitigate those risks as best as possible.
- spwa4 10mo ago> That's what the bank cards are for, of course; they don't need a phone. You mean VISA cards, with a few extra apps (that's what, say, Worldcom is, an app on a VISA card) the data sent over Cisco equipment to IBM compatible servers with encryption via chips developed through VISA by American manufacturers? I still see some issues there. Oh, and VISA had to demand Worldcom be moved to Switzerland, to prevent EU countries from let's call it "using it in negotiation" against each other. And I'm going to go out on a limb here and predict that in a few years, or as soon as the Ukraine war ends one way or another, central banks are going to demand SWIFT moves out of Brussels as well. Call it a shot in the dark. I get that it's become difficult to trust the US recently for the reason we all know. But you shouldn't forget: these institutions need to be trusted by every central bank ... and "trusted by every central bank" is not the EU either (well it especially isn't France or Germany, who effectively control the EU)