Digital €uro "Cash+"

Introduction

The digital euro "Cash+" is a European Central Bank (ECB) project aimed at improving digital banking services and simplifying payments across Europe.

This project aims to create a universal, secure, and easy-to-use system that will allow citizens to access their accounts and make financial transactions online, even without an internet connection or in rural areas.

The idea is to make payments more seamless and less expensive for people, while ensuring the security and confidentiality of financial information.

The preparation phase is scheduled to be completed by October 2025, with a planned launch before 2030.

before the end of the preparation phase (source ECB)

Warnings ⚠️

  • Loss of Privacy: The widespread use of digital accounts and electronic payments could lead to increased surveillance and the collection of personal data by authorities and businesses.
  • Power Imbalance: A single, universally accepted currency could give too much power to financial institutions and the government, potentially leading to restrictive political decisions that are contrary to the public interest.
  • Access Issues: Populations without access to the internet or digital technologies could be excluded from digital currencies, leading to financial and social segregation.
  • Cyber Risk and Vulnerability: The widespread use of a digital system could expose users to significant cybersecurity risks, such as phishing attacks, market volatility, or even extortion.
  • Overreliance on technology: An economy that relies on a digital system could be vulnerable to technical disruptions and network outages.

    • Cash+ ECB roadmap

    Video tutorial

    Presentation of Cash+ by Grand Angle (in french)

    (2023-07-02)

    Useful links

    ⚠️ Disclaimer of liability (to read) ⚠️

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    The information contained may become obsolete over time.

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