Digital Euro: the ECB’s shock team in place… without crypto pros! – Journal du Coin

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The ECB stands apart – The European Central Bank (ECB) long dream of imposing its own digital currency, in order to oppose the growing popularity of Bitcoin (BTC) and cryptocurrencies. This digital euro takes another step towards reality today, after the announcement of a team of 30 advisers to study its implementation. Surprise (or not, in fact): no player in the crypto sector would have been invited to the table.

A crypto-euro team without a blockchain specialist

The central bank digital currencies (MNBC) are systematically presented by their future issuers (central bankers therefore) as a sort of “Saviors of the free world” facing the ugly decentralized cryptocurrencies.

The BCE is obviously no exception to this rule and takes advantage of each new promotion of his super digital euro to tackle Bitcoin (BTC) and the cryptosphere, one way or another.

The last communicated press release, published this October 25, done by snobbery. In fact, the ECB has just formed a “Consultative Group for the Digital Euro Market”, made of 30 members of which strictly no does not come from the field of cryptocurrencies. The inter-self thus appears to say the least glaring, as we shall see.

Before that, let us specify that its stated goal is to to advise the Eurosystem on the design and the distribution of a “Potential” (but more and more obvious) digital euro, and that the group will meet once per trimester, as of this month of November 2021. It is therefore not a question of not strictly speaking of operational group which will have to tackle the technical task of issuing the said e-euro of the future.

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An MNBC group made up mainly of traditional bankers

The 30 professionals in this advisory group (not very representative) are largely from banking institutions Europeans and will, in any case, be supplemented later by the addition of representatives of national central banks of the euro zone.

If the Deutsche Bank It is notably represented there, there are also advisers working on the side of French bankers:

  • The group Banque Populaire Caisse d’Épargne ;
  • The Postal bank ;
  • Societe Generale.

The closest advisor to the cryptocurrency sector (the only one?) Among these 30 advisers is undoubtedly Sean mullaney, head of payment engineering at the company Stripe, who may decide to accept Bitcoin and cryptos again as a payment method (but it hasn’t been done yet).

“I am happy that many high-quality experts from the private sector are ready to contribute to the digital euro project (…) Their expertise will facilitate the integration of the views of potential users and distributors of a euro digital, during its study phase. “

Fabio Panetta, Member of the Executive Board of the ECB

In the cryptosphere, we would have been happy if this consultative group did not reflect the inter-self so much and had taken the trouble to have at least one or 2 symbolic representatives from the many talented crypto-companies present in the euro zone. Corn as Edward Snowden explains very well, the goal of central bankers is certainly not to open up to issuers of currencies other than themselves … especially if they have no form of control over them.

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