The breakdown
With listening we say it literally, given that the social media expert regarding cryptocurrencies, Nathaniel Whittemore, has analyzed this CBDC.
To do so, study the comments of the president of the Central Bank of Europe, Christine Lagarde. Particularly it focuses on a debate that took place on Twitter, highlighting that Lagarde seems to understand that crypto projects clearly demand better solutions. In addition, it seems that it makes an unconventional compliment to Bitcoin.
The way Whittmore distributes this content is through his podcast entitled "The Breakdown." It was in his last episode that he talked about the CBDC of the EU, if you want to hear it for you, we attach your soundcloud.
The CBDC of the European Union
Begin by explaining that CBDCs are basically born as a response from countries against the proposal of Libra. First it was China and then several countries joined. However, before Libra there was already a similar issue, debating what should be the substitute for physical money.
In addition, it states that originally the Central Bank of Europe, being the central monetary institution of the European Union, initially was doubtful of the project. With the arrival of Lagarde to lead the organization, the perspective changed, showing greater interest in the CBDC crypto.
To demonstrate this point, he appends an audio by the president commenting that beyond the success of Bitcoin, stablecoin is the important issue at the moment. Since they reflect a demand that should be considered, and the Central Bank should be at the forefront on this issue.
However, it touches the theme that we previously discussed about Switzerland. In which the Swiss government is interested in financial terms, but in the short term it does not consider a CBDC feasible for its economy.
Therefore, he concludes that by 2020 this CBDC issue will have greater weight and interest, given that governments must begin to pronounce and act on it.
Finally, we invite you to leave in your comments your perspective of a CBDC of the European Union, will it be that the Euro will be replaced by an e-Euro?
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