To have a digital payment medium that is issued by the central bank and can be exchanged without fees as a 1:1 digital equipment of cash would be amazing and go beyond just replacing American credit card providers.
Wero is private, it belongs to the EPI company. But they also have an agreement with the alliance of other payment solutions to make it all interoperable by 2027.
I have high hopes for the Digital Euro.
To have a digital payment medium that is issued by the central bank and can be exchanged without fees as a 1:1 digital equipment of cash would be amazing and go beyond just replacing American credit card providers.
What are the chances it will rely on Google’s Play integrity service?
I’m betting that anyone wirh unlocked bootloader or root access won’t be able to run this.
The EUDI Wallets have/had that as a requirement in their spec but it has been heavily criticized, no idea if it will persist though
If they do it like the Brazilian Pix, there’s a good chance it’ll be a success.
That’s something different, that’s what Wero is trying to achieve in Europe. But the Digital Euro goes well beyond what Pix does.
What’s the main difference? From the link it seems to be a cryptocurrency with the same payment features.
I’m not familiar with it, is it a private venture? If so it sounds like a different thing
Wero is private, it belongs to the EPI company. But they also have an agreement with the alliance of other payment solutions to make it all interoperable by 2027.
It would be awesome if my euros weren’t physical anymore. I don’t like being a mattress stuffer.
I just find it crazy that they cannot make this happen before 2029…
On the one hand, can’t wait for it, on the other, hope they don’t rush it and rather get it right
This is the most recent update report on the ECB’s ongoing work to establish a rulebook: https://www.ecb.europa.eu/euro/digital_euro/timeline/profuse/shared/pdf/ecb.derdgp251030_RDG_progress_report_October_25.en.pdf?d978acf24c059027f1372a4f42155ac9
Turns out it’s a pretty massive undertaking that could tank the economy if you get it wrong, so I can see how it might take a few more years