The EU named the launch dates for its own cryptocurrency.
The European Central Bank is working on creating a "crypto euro".
According to bank representative Joachim Nagel, by 2028 it will be possible to pay for goods and services with the central bank's digital currency in the European Union.
This exceeds the previously stated deadlines by Fabio Panetta, a member of the ECB's executive board.
The head of the Bundesbank called this project a major technological task and predicted that we will soon be able to pay with the digital euro.
The ECB approved the next steps for creating the digital version of the euro.
Developers need to improve the rules regarding the digital euro and select service providers to develop the payment platform and infrastructure over the next two years.
The digital euro is being developed to compete with Paypal, Apple Pay, Bitcoin, and Ethereum. Its goal is to avoid e-commerce dependence on the private sector and reduce the use of cash.
The digital euro is a means of payment, not an investment tool. It will not replace all the savings of Eurozone citizens, but it will help avoid the influence of foreign financial companies like Visa and Mastercard.
The National Bank of Ukraine set the official dollar exchange rate at 36.56 UAH, which is an increase of 11 kopecks. The euro rose by 5 kopecks and costs 38.6 UAH.
The Polish zloty exchange rate decreased by 2 kopecks and is 8.69 UAH.
Read also
- What are derivatives in cryptocurrency
- What is altseason and when will it start
- What is delisting of shares in simple terms
- Cloud mining: what is it
- What is a crypto mixer and a bitcoin mixer
- Cryptocurrency winter, what is it in simple words and how long does it last