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0 sats \ 1 reply \ @fourrules 31 Oct \ on: Christine Lagarde - CBDC 2029 bitcoin
Accelerate hyperbitcoinisation:
- European banks in Frankfurt and Paris absolutely hate the digital euro because if it succeeds like the Brazilian implementation then it'll compete with deposits. They've lobbied to cripple it
- Stable Coins won't be effectively inhibited because of the hold that the US has over Europe
- Unlike the digital euro stable coins will nurture the behavioural shift to private key management by promising greater liquidity (micro payments) and convenient and cheaper payment processing fees
- Neo banks will adopt stable coins and because of competitive forces major banks will likely start their own versions or buy them, and the acquired companies will then influence the major banks culturally and technically.
Bottom line, the ECB isn't powerful enough to force the major banks into line, not in the context of Farage, Le Pen, and the AfD likely entering government in the next election cycle.
Thank you! Really good points.
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