Privacy

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Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.

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[QUESTION] Privacy and the digital euro (lemmy.world)

submitted 1 week ago* (last edited 1 week ago) by Asudox@lemmy.world to c/privacy@lemmy.ml

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Some talk about the privacy of the digital euro has been made. Some people said that your transactions are going to be tracked. Should an european worry about it? Would GNU Taler be a possible solution?

And it's not like the digital euro is some dream, it will become reality soon.

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[–] umami_wasbi@lemmy.ml 10 points 1 week ago* (last edited 1 week ago) (7 children)

Not too knowledged about digial euro, but here's my two cents.

We are already using digital currency. Your card and bank transfer are being monitored(AML), looked at(IRS & credit agencies), and data mined(data brokers) every second. It stared when banks started using electronic records and government ditched the gold standard. Today's currency is mere a certificate that both sides trust there is value in it. IMO I can't see it enables new innovative use cases but a pure gmmick. Just a solution in serach of a problem. There are necessity and usability issues before privacy issue.

And no, I don't think it can replaces physical cash any time soon. If they really want to deprecate physical cash, they need to ensure everyone have a digital wallet, and everyone knows how to use it, including your blinded friend and granny.

[–] Asudox@lemmy.world 5 points 1 week ago (1 children)

They explicitly state that the digital euro is not here to replace cash:

Q3. Would a digital euro replace cash?

No. A digital euro would complement cash, not replace it. A digital euro would exist alongside cash in response to people’s growing preference to pay digitally, in a fast and secure way. Cash would continue to be available in the euro area, as would the other private electronic means of payment currently being used.

[–] umami_wasbi@lemmy.ml 2 points 1 week ago

And even less a reason for the digital euro to exist.

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