The ECB European Central Bank executive board member Benoît Cœuré, who last year described Bitcoin as an evil spawn of the 2008 financial crisis has at a joint conference held by the ECB and the National Bank of Belgium announced that they will be launching a digital currency.
"A central bank digital currency could ensure that citizens remain able to use central bank money even if cash is eventually no longer used"
Cœuré
Benoît Cœuré
source
This digital currency would be a rival to Bitcoin and Facebook's Libra. Facebook had similar plans to launch its own private digital currency, governed by a group of 20 different companies, but this plan aroused a strong negative reaction from world leaders and central banks for fear that Libra will overthrow most country's economic control.
(adsbygoogle = window.adsbygoogle || []).push({});A solid reason for this digital currency creation was to help fix the problem of cross-border payments, he is optimistic about the future of cross-border payments and he is sure that the ECB digital currency will help in efficient and reliable payments and exchange.
Even after criticizing Bitcoin the ECB is still interested in building on top the blockchain technology.
Posted from my blog with SteemPress : http://blockspill.com/european-central-bank-has-plans-for-a-digital-currency/