I'm surprised there haven't been more responses to the thread, at least for the moment, but it is what it is.
They have Euro digital fiat already since many years ago. Why do they need Euro CBDC? What would be its advantages that the digital fiat does not have?
I have not seen any good reason to have it.
It is a question of control. If I pay by card or make electronic transfers and the government or central banks want to know what I do, they need judicial authorisation, which is a separate and independent power. With the Euro CBDC they have information on everything in real time. It's a dream for bureaucrats, to know exactly what you spend in real time.
A key thing governments of countries that were quick to try and develop a CBDC is that they forgot these coins need demand to work. When there is no demand, the project will just be a waste of time. It is simply just another shit coin, but the government backs this one.
Yes, there has been scepticism about it in various parts of the world but I do not trust the EU. I think a large part of the population will welcome it.
I don't think CBDCs are bringing in any tangible improvement in the economy whatsoever. It may bring down the cost of money printing, but there's not much benefit for the consumers.
Rather, with digital currency, the end users will loose every bit of their financial freedom as they will come under a central surveillance system. Every transaction will be visible to the government where cash still provides a bit of anonymity if done in smaller chunks.
Exactly.