Trading Discussion Europe’s Digital Currency to Complement Cash and Be Monterey Anchor.

[Somrat4030]

While cash currently provides people with access to central bank digital money, its importance in payments is declining as consumers increasingly prefer to pay digitally and shop online. Internet sales in the euro area have doubled since 2015 and only around 20% of the cash stock is now used for payments, compared to 35% a decade and half ago, Fabio Panetta, member of the Executive Board of the European Central Bank noted in a speech at the Elcano Royal Institute in Madrid.

 

[Mandy96]

With what I understand from this post, I think similar situation is happening around the world, countries are so scared that cryptocurrencies will take over the universe and the cash will devalue, well it is already happening because a lot of people are investing in crypto and eventually is going to be a cashless economy running everywhere, this is why some countries are creating their own crypto so as not make their currency useless by the time it is widely accepted everywhere, I believe it is a smart move though because eventually it is going to the only way to make payment