ECB claims digital euro will offer 'maximum level of privacy' amid surveillance fears
Piero Cipollone said the digital euro would give greater privacy than bank transfers, while the ECB says cash will remain in circulation.
9 Articles
9 Articles
Key Points of the News: The ECB promises privacy restricted only to offline mode, leaving online transactions under strict surveillance of commercial banking. Unlike decentralised networks such as Bitcoin, the digital euro will operate as a state tool for centralized control and financial supervision. The imposition of tenure caps and forced deadlines for businesses demonstrates the intention to shield the traditional banking monopoly from user …
ECB says offline digital euro payments stay private, banks see the rest
The digital euro will make offline payments invisible to everyone except the two parties involved in the payment. Commercial banks that handle online transactions are still able to see them, said Piero Cipollone, a member of the ECB’s Executive Board, in an interview published this week. Banks keep the identities the Eurosystem cannot see Cipollone was asked whether the ECB would be able to track what each citizen would do with the currency. He …
CoinStats - Only offline digital euro payments stay betwe...
The digital euro will make offline payments invisible to everyone except the two parties involved in the payment. Commercial banks that handle online transactions are still able to see them, said Piero Cipollone, a member of the ECB’s Executive Board, in an interview published this week. Banks keep the identities the Eurosystem cannot see Cipollone was asked whether the ECB would be able to track what each citizen would do with the currency. He …
What should be remembered: Piero Cipollone asserts that the Eurosystem will not be able to link a person to its transactions. Offline payments would take place directly between individuals, as well as with cash. Digital rights organisations consider these guarantees too institutional. The European Central Bank ensures that its digital euro will offer more privacy protection than current bank transfers. Piero Cipollonone, member of the Executive …
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