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So, yes, privacy is going to be a concern, yes the institutions will not make digital euro anonymous per-se so I my view we should expect it to be very unlike cash and yes it does open the door to making cash restricted for very small payments and thus having a massive control over people.
My self-question is, up to what point a successful launch of a digital Euro, versus a Digital Yuan and a Digital USD may increase the attractive of these currencies and thus could impact the exchange rate beyond the usual interest rates / inflation / import-export components of the demand for currencies.
This has Dusk Network written all over it. Confidential permissionless transactions, privacy smart contract, 2 different transaction models and regulatory compliance. I am hoping that they will get a change to prove themselves after mainnet.
Days of the physical cash is numbered but let's hope that the system replacin it isn't going to be huge surveillance program