Digital euro’s privacy promise not worth a centralized system, Oasis exec says

A former Apple executive believes the European Central Bank might just be paying lip service to the concept of privacy in relation to a digital euro. When European Central Bank board member Fabio Panetta addressed the European Union Committee on Economic and Monetary Affairs in April, he emphasized the importance of privacy in any potential future CBDC rollout.

Were a digital euro to be issued on the Ethereum blockchain for example, it would be subject to the same level of decentralization and autonomy as Ether (ETH), and every other token issued via Ethereum. But the possibility of a central bank ceding all control of its money supply to a decentralized network seems extremely unlikely.

“In regards to people adopting the digital euro, unfortunately I think ease will win over privacy alone,” said Fauvre-Willis.

“Privacy is a feature but it’s not enough to drive people on its own to change their behavior. Instead for those of us who really believe in privacy we have to simultaneously strive to make compelling and life changing products and as we do we need to put privacy at the center of what we make,” she added.

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Author: Priyanka

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