“If we want the digital Euro to become a success, we need a clear and convincing narrative of why we need it in the first place. People need to see the benefits of a digital Euro in their day-to-day lives. The European Central Bank and the European Commission have yet to make a compelling case of why we need the digital Euro and what added value it will deliver,” explained Markus Ferber MEP, the EPP Group Spokesman in the European Parliament’s Economic and Monetary Affairs Committee.
This will crowd out extremely vulnerable people, like people who are jobless. Every cent spent can be seen, criticized, marked off etc etc. Cash cannot be tracked, and yes, that invites crime, but I do not want all my transactions to be visible at all times. My friend who gets unemployment already cannot participate normally or borrow money from me because he has to show his PayPal and declare everything as income.
Cash is freedom.
The aim of the research on a digital euro is to have characteristics similar to cash. I suggest reading this op-ed and this interview.
It’s pretty easy to pretend that crimes are necessarily bad but we all know that that isn’t true. Keeping a method around to fund illegal activities is highly necessary for continued social progress. Imagine if every donation to the black panthers had been traced.