For the Digital Euro Association, the digital euro will have to be anonymous if Europe wishes to adopt it.
In an interview with CoinTelegraph, Jonas Gross, the president of the Digital Euro Association said that if Europe wants the digital euro to be adopted by the population, it will have to be anonymous.
“In a few decades, cash could hardly be used, as is already the case in China or Sweden” explains Jonas Gross. “If we didn’t have a digital euro that allows for at least partial anonymous payments, there would be no sense of privacy in payments.” Each transaction could be traced and identified by state.
The association pleads for an anonymous digital euro, on transfers limited to a certain amount. In this way, payments of less than 10,000 euros for example could not be followed by the authorities. This would prevent massive fraud while giving consumers some freedom.
All of this of course raises questions regarding fraud and the DEA is well aware of this. However, the risk is that if Europe deploys a fully traceable digital euro, the public will not adopt it, but another cryptocurrency. Many Europeans already use various cryptocurrencies to make their payments online.
Several tests have already been carried out by the DEA in Europe. At present, however, the association believes that nothing is defined and that Europe has fallen far behind China and the United States in particular. The primary purpose of the digital euro has, according to the association, not yet been clearly defined. A large-scale deployment of a digital euro would in any case not be possible for five years.
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