ECB President Christine Lagarde invites public to weigh in on CBDC

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— Christine Lagarde (@Lagarde) November 1, 2020

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Updated September 21, 2022 | Published November 2, 2020

2 mins read

The idea of a CBDC is not new – China has it and the United States is considering it.

And now, so is the European Union, an economic union that has an integrated single market and single currency, allowing for better trade and slashing unnecessary financial expenditures.

Now, this alliance could be making a shift online, as the future seems to be drawing closer, but mainstream institutions are falling behind to their Fintech peers.

We’ve started exploring the possibility of launching a digital euro. As Europeans are increasingly turning to digital in the ways they spend, save and invest, we should be prepared to issue a digital euro, if needed. I’m also keen to hear your views on it https://t.co/0ZuU2ZZgCp pic.twitter.com/CoY5sN7Yoz

— Christine Lagarde (@Lagarde) November 1, 2020

“We are still in the review and considerations stage,” Lagarde informed, urging the public to pitch in and share thoughts on digital currency.

The introduction of a digital currency could be extremely helpful to the European Union, which losses millions to corruption, falsified social security benefits and VAT fraud yearly, due to lack of paper trail or an overwhelming amount of such.

A digital euro may indeed be the solution, Lagarde said, adding:

“As Europeans are increasingly turning to digital in the ways they spend, save and invest, we should be prepared to issue a digital euro, if needed.”

With the rise of blockchain technology across Europe, it's to be expected for a digital currency to emerge. Europeans are already incredibly tech savvy when it comes to gaming solutions.

Many play at blockchain casinos such as Bitcasino, 1xBit, and FortuneJack already where cryptocurrencies are the staple product.

Want the chance to win an iPhone 11 Pro? Then take a couple of minutes to complete our CGN survey.

David

David is co-founder of CryptoGamblingNews.com, and has worked in the crypto gambling space since 2015.

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ECB President Christine Lagarde invites public to weigh in on CBDC

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