What is a digital euro? What would its benefits be and how would it affect the way we make payments? When could it be ready?

Our host Michael Steen discusses these questions and more with Ulrich Bindseil, who is responsible for market infrastructures and payments at the ECB.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 6 November 2020 and recorded on 26 October 2020.

In this episode:

01:10 – What is money?
What money is, what the differences between central bank money and commercial bank money are, and where a digital euro comes in.

05:23 – The development of digital payments and the benefits of a digital euro.
How digital payments have developed over the last few years, what different kinds of digital payments already exist and how they differ, and what the benefits of a digital euro might be.

12:12 – The impact on digital payments and design options
How I will be able to pay in the future? What could a digital euro technically look like.

18:17 – The way forward and next steps
When a digital euro will be ready and how and why to have your say on its design.

Further reading:

Report on a digital euro
https://www.ecb.europa.eu/pub/pdf/other/Report_on_a_digital_euro~4d7268b458.en.pdf

Public consultation on a digital euro
https://epsilon.escb.eu/limesurvey3/434111?lang=en

Tiered CBDC and the financial system
https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2351~c8c18bbd60.en.pdf

European Central Bank
https://www.ecb.europa.eu/home/html/index.en.html

You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more: https://pod.link/ecbpodcast

We would like to share with you the first discussion “A time of reflection on current global development – Towards a new paradigm of the global financial ecosystem” from the 6th edition of the Finweek Bratislava 2022 conference, held in Hubhub Bratislava on 20-22 September.

We are grateful for the time and effort all panelists took to share their thoughts and experiences with us, which was very important for the success of this conference:
Kick-off
☛ Martin Peter (SK), Chairman of the Center for Financial Innovation, Ministry of Finance of the Slovak Republic

Speakers:
☛ Petia Niederländer (AT), Director Payments, Risk Monitoring and Financial Literacy, Austrian National Bank
☛ Anikó Szombati (HU), Executive Director for Digitalization, Central Bank of Hungary
☛ Jonas Gross (DE), Chairman, Digital Euro Association
☛ Marcus Härtel (DE), Market Infrastructure Expert, European Central Bank
☛ Martin Bruncko (SK), Executive Vice President for Europe, Binance
☛ Peter Palus (SK), Head of Financial Unit at Permanent Representation of Slovakia to the European Union

Moderator
☛ Johan Winbladh (SE), Associate Professor at City University of Seattle

�� All discussions will be shared on our YouTube channel – https://www.youtube.com/channel/UCyinjq_pIXFPSncmT_Ym-hg

�� Partners of the conference: Ministerstvo financií Slovenskej republiky, Národná banka Slovenska, Visa, Binance, 365.bank, BLIK, @hubhub, CRIF – Slovak Credit Bureau, Portu, Fumbi, Fintech & Insurtech Association of Slovakia (FINAS), zlataminca.sk, Norriv

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The slow roll of tyranny is marching forward, as Christine Lagarde recently gave this speech, talking about the new legislative framework for a digital euro.

This is the euro’s central bank digital currency. It is going to be their version of a CBDC and, many central banks all around the world are either researching, trial/pilot testing a CBDC right now.

Because like I always say, a central bank digital currency is a tyrant’s wet dream. There is nothing that will give a government more control over its people than a central bank digital currency. Control the money, control the people.

Timecodes
0:00 New Legislative Framework for Digital Currency
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4:23 Maintaining Citizens’ Trust in Money and Payment Services
6:43 Current Systems Under Threat
10:41 Privacy
14:22 Legal Tender Status

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I am not a CPA, attorney, or licensed financial advisor and the information in these videos shall not be construed as tax, legal, or financial advice from a qualified perspective. Linked items may create a financial benefit for Heresy Financial.

#CBDC #DigitalEuro #Tyranny