It has long been speculated, and now we have it in black and white: The European Central Bank has launched a white paper on their own centralized crypto-currency. Like Christine, the future of the crypto-currency “CBDC” Lagarde plans and what is in the Whitepaper you will learn in this article.
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ECB is adorned with the advantages of a Cryptocurrency
At first glance, you might think that it would be a great thing, if the ECB dares finally also into the digital “new territory”. A open digital Blockchain without middle man and no arbitrary interest rates and Inflation? Fail display. Unfortunately, the ECB is trying a crypto-currency, according to the old-fashioned model. Although the title of the white paper suggests a anonymity in transactions, but this is relativized in the course of the text.4 reasons why Bitcoin must have in each Portfolio are: Free from any ideology or emotions we show you in this article, 4 reasons why Bitcoin must in every Portfolio. Correlation, return-to-risk ratio, scarcity and Adoption are the four major keywords. We let the facts speak! Of the 4 reasons.In the Tweet, the ECB expectations are muted. There it is said that in the case of small transactions, the privacy should be preserved, but in the case of larger a money laundering check will be conducted. Thus, the CBDC is not a real crypto currency to be comparable.
Our latest research shows that it is possible to build a simplified payment system for central bank of digital currencies. Such a system would safeguard users’ privacy for low-value transactions while ensuring that higher-value transfers are subject to anti-money laundering checks.— European Central Bank (@ecb) December 17, 2019
The it says: The Euro crypto currency white paper
We have analyzed the white paper for you, and some problems found. The ECB would like to reserve with your crypto currency to the right to increase the amount of money arbitrarily, or to reduce. The institutions of the ECB to have full control over all users data. A curtains in front of the castle pretends to be here in the graph, a supposedly high security.Trading on our brokers comparison-winning eToro. You are looking for a reliable and intuitive Broker to trade crypto-currencies, CFDs, shares, Forex, commodities and more? Then let yourself be in our eToro Test in 2019 all of the features explain, what possibilities are given to you here and where is here the Before – and disadvantages are . eToro Test 2019 read now.The users of the alleged crypto-currency are also connected to the Blockchain in the Background. You will only be supplied via a connection to the Internet banking. With a real crypto currency that has not really much in common. Also in this process there are other middle men that have to be interconnected. Decentralization? Fail display. The users are thus, as in the existing payment system rather a guest, as an essential and active part of the network. The ECB retains your institutions the full control over the network, and what happens to it.The crypto-currency, the ECB will run on the Corda Blockchain, and Accenture, one of the world’s largest Management and consulting firms. In the white paper is that the ECB is the only Institution, the CBDC out and destroy must. So basically the Pre is meant to be Mining and Token-Burning. The following graph explains the process and the flow of transactions in Detail:
CBDC crypto-currency as the data octopus, and an instrument of control?
Users of the CBDC crypto-currency can register on the network with a Pseudonym, however, remains to be seen whether this will also be implemented. The ECB will not take control of the whole of the European monetary transactions. Even if the smaller transactions or users should remain anonymous, is to install the ECB through the back door. As a result, the ECB user can view the data. A justification for the violation of privacy can always be found. Especially popular as a procedure for authoritarian States, the espionage or terrorism is suspected as the reason for advancing to journalists or human rights activists. Even if we are in Europe, far from it, history has shown that centralized Power is always abused again. We want to hope that it comes here in Europe as far as.
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