Bitkom: Europe needs to work faster to Digital-to-Euro

Several of the Bitkom Association called for more European innovation. A new paper warns of the consequences of a lack of Decisiveness.

Digital Association calls on Europe to crypto-Consensus on

In times of Corona, the European community is, in many respects, to the test. Not only the debates and conflicting opinions around the topic of Corona Bonds shows which probation is exposed to a sample in the European Union these days. And also in the plans for the use of the Blockchain and crypto-currencies, the EU and all of Europe’s problems. Thus, the German industry Association Bitkom sees it currently, anyway. There, the experts, to the knowledge of Europe, the threat in international competition to begin with. Reason enough for the authorities in times of crisis to Consensus and common action to a Digital display Euro. A new information paper on the digital Association Bitkom demands of the States and Central banks in Europe more courage and determination. The common Tests for the application of the Blockchain technology, and a European digital currencies, go to the experts to slow.

China and the other countries are significantly more active

The Corona could be crisis to opportunity, such as the Association emphasizes in his analysis. In times, in which citizens pay increasingly cashless and also, increasingly, digital currencies such as Bitcoin or Ethereum in the view of many people, and companies, new opportunities arise. The present paper responds to the name “Digital Euro on the Blockchain”, and was released in time for the weekend. The industry Association has in its receivables in various examples, the Europe does not require much so that the continent belongs at the end of the second squad. While countries such as China and the USA are already a big step further in developing their own CBDC, as the “Central Bank Digital Currencies” as a state digital currencies will be abbreviated.

Also Facebook’s, contrary to all the criticism of the continuing Plan for the in-house Stablecoin Libra is the author of the paper in the view. But above all, it is good of China approaches, the Bitkom Association to his warnings.

In response to plans abroad is indispensable

Especially in the far East, different crypto exchanges such as the provider Binance open up their own platforms on which new ICOs or STOs could play in future an increasingly important role as a potential competitor to national currencies. Europe, on the other hand, the criticism that threatens gradually to lose the connection in the international competition. The community, however, must be aware of its responsibility assumed in a Phase of elemental advantages in the globalization of competition also, and especially, of digital currencies. And the more of the Blockchain, the offer, especially in the globalized financial world is basically endless use cases. The digital Association Bitkom criticized in this point a fundamental lack of “common comprehension”. In its recommendation, the Association between the main term differentiated festivities – from a digital Central Bank currency, and digital currencies in General to the parent term money.

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