Digital Euro should be launched for testing in 2023

By / / 2 minutes reading

The Digital Euro comes as a priority for the European Central Bank in 2023. With the aim of delivering a prototype of the currency by March of next year, the institution works with qualified partners to expand its operations in the international economy; Amazon, for example, participates in the asset’s research line.

Recently, as reported by Newsverse, Indonesia presented its draft moeda digital own. The Central Bank of Brazil also has plans to launch the digital real for 2024. The digital currencies launched by nations are called CBDC. 

ADVERTISING

Indonesia's central bank launches digital rupiah with a focus on the metaverse

image-15-aspect-ratio-930-440
Focusing on the future of the economy, the largest power in Southeast Asia, Indonesia, launches the digital rupee, the country's official currency that can be used in the metaverse. In a statement this Monday (5), the president of Indonesia's central bank, Perry Warjiyo, said that the nation's digital currency will be compatible with that of other central banks.

Digital real could come out in 2024, announces president of the Central Bank

Des-17-aspect-ratio-930-440
Apparently, the Brazilian Central Bank does not want to be left behind in the virtual race in the coming years. The entity's president, Roberto Campos Neto, stated this Tuesday (13) that he is interested in creating a central bank digital currency (CBDC). The speech took place during an event on digital security promoted by Poder360.

For the financial market, the European digital currency is promising, but raises doubts regarding the store of value limit and whether it will be limited in individual transactions. When the topic is security, the objective of the European Central Bank (ECB) is to establish an anti-money laundering device before launch. For the European Union, it is necessary to identify an authority to define and prevent crimes involving digital assets. 

In English, the European Central Bank made a podcast available to explain the proposal:

In a document made available by the European Central Bank, it is possible to check the progress of the project. According to the entity, the Euro digital is in the analysis phase. Issues such as the asset's influence on the market and distribution are being studied. Focusing on the solidity and greater security of European digital currency, the ECB says the digital Euro goes into testing phase for the world from September 2023. 

+ Most Read

“A digital euro should be used primarily as a means of payment and not as a financial investment instrument. We are carefully analyzing this issue in order to avoid negative consequences for the financial sector. The digital euro must be a public good that benefits the economy and society as a whole”, informed the ECB.

ADVERTISING

Some web3 sectors are keeping an eye on the currency. Companies linked to decentralized finance (DeFi), non-fungible tokens (NFT) and Decentralized Organizations (DAOs) are betting on the launch of the European Central Bank to engage the web turnaround. The European Parliament has already been meeting to define rules on the European Union's digital currency. 

Read also

most read

Posts

Scroll up