150
European banks to launch euro stablecoin in bid to counter US dominance (www.reuters.com)
submitted 11 months ago by to c/technology@lemmy.world
30 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] 34 points 11 months ago (6 children)

The digital euro is where it's at! I can't wait to give billions of dollars worth of middle fingers to American credit card companies.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 6 child comments
    •
  • [–] 10 points 11 months ago* (last edited 11 months ago) (5 children)

    Well, I was against the idea, but now you got me thininiking.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 5 child comments
    •
  • [–] 17 points 11 months ago (2 children)

    The purpose is to boost European companies. Right now they pay between 1-3% of every single transaction.

    Next, banks will also get hit. If a digital Euro exists, bank transactions will go down, meaning less transaction fees for both consumers and companies.

    Then there's convinience. People will be free to transfer money across the continent, and also to friends and family without any costs (some countries have that, some dont).

    VISA and MasterCard is just a very unneccesarry middle man in 2025.

    Who takes the bill then? Well, the EU does, because they work for the people, and the money gained is much larger than money spent. Net positive matematics.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 2 points 11 months ago* (1 child)

    Then there's convinience. People will be free to transfer money across the continent, and also to friends and family without any costs (some countries have that, some dont).

    I'm not sure about that part. If GNU Taler is to serve as the digital euro, that has been designed to be taxable. for this reason when transferring money to a friend instead of a business, that will have to go through a third party that sees the transacting parties and the amount.

    Taler is very promising, but with it (or another digital euro implementation) we will still need easy access to regular cash.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •
  • [–] 1 point 11 months ago

    That's a fair point. Maybe this "feature" is hard to implement with all countries agreeing on the taxing.

    But their might be a limit to how much you can send without being taxable.

    This is also a minor feature. As long as it's possible within country borders, it would be fine 98% of the time.

  • permalink
  • fedilink
  • source
  • parent