The digital euro research phase began in October 2021 and is expected to be complete in 2023.

The European Central Bank (ECB) has announced a major move towards releasing their official central bank digital currency (CBDC), making affinity with five other companies to accomplish this, Amazon being the most notable.

According to a press release published on September 19th courtesy of FinTech Futures, the ECB selected these five companies out of 54 other applicants to have bring trial and bring their digital Euro to fruition.

And according to a press release published by the ECB on the 16th, these five companies will work on different aspects of this new digital currency, which include:

  • CaixaBank – peer-to-peer (P2P) online payments;
  • Worldline – P2P offline payments;
  • EPI – point of sale (POS) payments initiated by the payer;
  • Nexi – POS payments initiated by the payee;
  • Amazon – e-commerce payments.

The ECB says they were chosen because they not only fulfilled a number of “essential capabilities,” but because they felt these 5 groups ‘best matched the “specific capabilities” required for the assigned use case,’ they wrote.

The aim of this prototyping exercise is to test how well the technology behind a digital euro integrates with prototypes developed by companies. Simulated transactions will be initiated using the front-end prototypes developed by the five companies and processed through the Eurosystem’s interface and back-end infrastructure.

FinTech Futures wrote

The ECB will then publish their findings during this trial run, which is expected to end during the first economic quarter of 2023.

Worldline issues a statement after the news was released, stating,

[We share] a common goal of the ECB and its partners and intends to be an active participant of payment industry evolution by contributing to strategic and potentially transformative projects such as the digital euro.

[CaixaBank] will be developing a mobile application that simulates the steps individuals will need to transfer digital euros to their account and/or transfer digital euros to other individuals.

CaixaBank said in a statement

Nexi Group Chief Strategy and Transformation Officer Roberto Catanzaro said,

We look forward to bringing the best of Nexi’s recognized know-how in the digital payments in general and in merchant solutions in the specific scope, to drive innovation in the European payment landscape.

Cited by Crowdfund Insider, an ECB panel in August in Milan, Italy, stated:

Global stablecoins issued by big tech firms could become dominant and threaten public control over the unit of account (Brunnermeier, James and Landau, 2019). This could inhibit the ability of central banks to conduct monetary policy and act as lender of last resort, and ultimately reduce public welfare. A similar argument can be made for foreign CBDCs.

A digital Euro could increase competition by ensuring universal access to an efficient digital means of payment that is not motivated by profit and by allowing intermediaries to offer services on top (digital euro inside). A digital euro would also improve the euro area’s strategic autonomy by reducing reliance on foreign entities.

Pymnts and Coin Geek both noted that the digital euro research phase began in October 2021 and is expected to be complete in 2023. The WinePress noted some of this early trialing in June of last year.

Not long ago the United States Treasury renewed their calls for the creation of a digital dollar: “US Treasury Renews Calls For A Digital Dollar.”


AUTHOR COMMENTARY

Just as it was explained in yesterday’s report about the US Treasury’s calls for a digital dollar, the masses will willfully accept it – especially once this artificial, planned, and timed crash of the whole economic framework is facilitated. Once the people begin to descend into madness, beg for food, water, clothing, debt forgiveness, and so on; the government and central banks will be happy to oblige. This is how I see this system being implemented. Fear is always a great motivator, and works like a charm every time.

[10] When wisdom entereth into thine heart, and knowledge is pleasant unto thy soul; [11] Discretion shall preserve thee, understanding shall keep thee: [12] To deliver thee from the way of the evil man, from the man that speaketh froward things; [13] Who leave the paths of uprightness, to walk in the ways of darkness; [14] Who rejoice to do evil, and delight in the frowardness of the wicked; [15] Whose ways are crooked, and they froward in their paths:

Proverbs 2:10-15

But you see, now that you know these things, you won’t be taken by surprise, and you can prepare and expect it to happen eventually, not just physically, but mentally, emotionally, monetarily, and spiritually. Most people, including the saved, have zero clue that any of this stuff is coming, and they too, along with the secular world, will readily conform.

[13] Hear, ye that are far off, what I have done; and, ye that are near, acknowledge my might. [14] The sinners in Zion are afraid; fearfulness hath surprised the hypocrites. Who among us shall dwell with the devouring fire? who among us shall dwell with everlasting burnings? [15] He that walketh righteously, and speaketh uprightly; he that despiseth the gain of oppressions, that shaketh his hands from holding of bribes, that stoppeth his ears from hearing of blood, and shutteth his eyes from seeing evil; [16] He shall dwell on high: his place of defence shall be the munitions of rocks: bread shall be given him; his waters shall be sure.

Isaiah 33:13-16

[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).

The WinePress needs your support! If God has laid it on your heart to want to contribute, please prayerfully consider donating to this ministry. If you cannot gift a monetary donation, then please donate your fervent prayers to keep this ministry going! Thank you and may God bless you.

CLICK HERE TO DONATE

71 Comments

  • Keep up the excellent work, I read few content on this web site and I think that your web site is real interesting and holds bands of fantastic information.

  • F*ckin’ remarkable things here. I’m very glad to see your article. Thanks a lot and i’m looking forward to contact you. Will you please drop me a mail?

  • Good, I should definitely pronounce, impressed with your web site. I had no trouble navigating through all tabs as well as related information ended up being truly simple to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or something, website theme . a tones way for your client to communicate. Nice task.

  • Howdy are using WordPress for your blog platform? I’m new to the blog world but I’m trying to get started and create my own. Do you require any html coding knowledge to make your own blog? Any help would be greatly appreciated!

  • You can definitely see your skills in the work you write. The world hopes for more passionate writers like you who are not afraid to say how they believe. At all times go after your heart. “The only way most people recognize their limits is by trespassing on them.” by Tom Morris.

  • Great paintings! That is the type of information that should be shared around the web. Shame on the search engines for now not positioning this publish higher! Come on over and seek advice from my site . Thank you =)

  • This is a very good tips especially to those new to blogosphere, brief and accurate information… Thanks for sharing this one. A must read article.

  • whoah this blog is excellent i love reading your posts. Keep up the good work! You know, lots of people are searching around for this information, you can aid them greatly.

  • I really like your blog.. very nice colors & theme. Did you design this website yourself or did you hire someone to do it for you? Plz answer back as I’m looking to design my own blog and would like to find out where u got this from. thank you

  • Hey just wanted to give you a quick heads up. The words in your content seem to be running off the screen in Opera. I’m not sure if this is a formatting issue or something to do with internet browser compatibility but I thought I’d post to let you know. The style and design look great though! Hope you get the problem solved soon. Cheers

  • It is in reality a great and helpful piece of info. I am glad that you simply shared this helpful information with us. Please keep us up to date like this. Thanks for sharing.

  • Hey, you used to write excellent, but the last few posts have been kinda boring?K I miss your great writings. Past few posts are just a little bit out of track! come on!

  • It is really a nice and helpful piece of info. I am glad that you shared this useful info with us. Please keep us informed like this. Thanks for sharing.

  • I am not certain where you are getting your information, but good topic. I must spend a while studying much more or working out more. Thanks for fantastic info I was looking for this information for my mission.

  • Hey There. I discovered your weblog using msn. That is a really smartly written article. I’ll be sure to bookmark it and come back to read extra of your useful info. Thanks for the post. I will certainly return.

  • Generally I do not read post on blogs, but I would like to say that this write-up very compelled me to take a look at and do so! Your writing taste has been surprised me. Thank you, quite great article.

  • My programmer is trying to convince me to move to .net from PHP. I have always disliked the idea because of the costs. But he’s tryiong none the less. I’ve been using WordPress on several websites for about a year and am anxious about switching to another platform. I have heard excellent things about blogengine.net. Is there a way I can import all my wordpress content into it? Any help would be really appreciated!

  • Hello, Neat post. There is an issue with your website in internet explorer, may check this?K IE nonetheless is the marketplace chief and a large component to people will pass over your fantastic writing because of this problem.

  • There are actually plenty of details like that to take into consideration. That may be a nice level to bring up. I offer the thoughts above as normal inspiration but clearly there are questions like the one you bring up where crucial thing will be working in honest good faith. I don?t know if finest practices have emerged around things like that, however I am positive that your job is clearly identified as a fair game. Each girls and boys feel the affect of only a second’s pleasure, for the rest of their lives.

  • Hi there would you mind letting me know which hosting company you’re utilizing? I’ve loaded your blog in 3 different web browsers and I must say this blog loads a lot faster then most. Can you suggest a good internet hosting provider at a reasonable price? Thanks, I appreciate it!

  • It is really a nice and useful piece of information. I am glad that you shared this useful information with us. Please keep us informed like this. Thank you for sharing.

  • It’s perfect time to make some plans for the future and it is time to be happy. I’ve read this post and if I could I wish to suggest you some interesting things or suggestions. Perhaps you could write next articles referring to this article. I desire to read more things about it!

  • Hello my family member! I wish to say that this post is awesome, great written and include approximately all important infos. I’d like to peer more posts like this.

  • Woah! I’m really digging the template/theme of this website. It’s simple, yet effective. A lot of times it’s tough to get that “perfect balance” between superb usability and visual appeal. I must say you have done a fantastic job with this. In addition, the blog loads extremely quick for me on Opera. Exceptional Blog!

  • Hello would you mind stating which blog platform you’re working with? I’m planning to start my own blog in the near future but I’m having a hard time choosing between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your layout seems different then most blogs and I’m looking for something completely unique. P.S Apologies for being off-topic but I had to ask!

  • Thank you for sharing excellent informations. Your web-site is very cool. I’m impressed by the details that you’ve on this website. It reveals how nicely you understand this subject. Bookmarked this website page, will come back for extra articles. You, my friend, ROCK! I found just the info I already searched everywhere and just could not come across. What an ideal web-site.

Leave a Comment