Anthony Pompliano shares that the digital euro is worthless and it is not bitcoin. The European central bank (ECB) is planning to launch a new project on digitalizing money. The bank converts the money from Bitcoin to the digital euro.
The ECB Prepares Euro’s Digital Future
Due to the announcement from the ECB about the launch of digital euro, Pompliano dunks on the digital euro. The bitcoin bull says that the digital euro is not decentralized or it can change any Monteroy procedures. Moreover, Pompliano feels since the order is from the European central bank it is unavoidable. In regards to this, there are debates stating that cryptocurrency breakdown is already evolving.
(THREAD) We have decided to launch a project to prepare for possibly issuing a digital euro. We will look at how a digital euro could be designed and distributed to everyone in the euro area, as well as the impact it would have https://t.co/KCf73qHOZ8 1/3 pic.twitter.com/eHvpFlH8sq— European Central Bank (@ecb) July 14, 2021
The European central bank (ECB) announces to launch the investigation phase of a digital euro project. Significantly, the digital euro supports the people to make easy payments with additional choices of how to pay and redeem. The Eurosystem issues digital money which is accessible to all the citizens and organizations.
The President of ECB, Christine Lagarde says,
“Our work aims to ensure that in the digital age citizens and firms continue to have access to the safest form of money, central bank money. Moreover, the digital euro would still be a euro: like banknotes but digital.”
In addition, the ECB implements the digital euro as a complement to cash. The digital currencies will connect as cash for all means of payments. Also, these digital euro’s increase monetary sovereignty and the financial stability for the country. Thereby, diminishing the dependency on other digital payment options. Besides the risks in the financial securities, the ECB guarantees the people stating, privacy is a top priority for them.
Pompliano Responds to ECB Plans
According to the ECB plans, it wants the digital euro to be used in this new era. Thus, Digitalization has changed our lives and transformed how we pay. In response to this, Pompliano shares that many authorities and financial firms are against digital assets like Bitcoin.
He adds, the CBCD’s will not plan to bring a new era of monetary enlightenment. Instead, they just need to transform the activities according to technology. More so, Pompliano feels they are still going to create trillions of dollars and reduce the value of the currencies due to these technological factors.
Therefore, as technology increases people, firms and businesses are moving into the digital world with digital currencies. Thus, a cashless economy is waiting as the cryptocurrencies are becoming the digital gold at present and towards the future.
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