I serious want an alternative to US credit cards. Because it would mean the US cannot pressure foreign companies by having Visa and Mastercard cut them off. And JCB is not accepted everywhere in the EU.
And pressure individuals like ICC judges by blocking them from US payment networks
I’d be interested in the privacy aspect. Does anybody with more knowledge than me know more about that? Like… It traceable? Will the gov’t know ally purchases, vendors, etc.?
Under FAQ of the digital euro’s page
Q9. How private would the digital euro be?, that they want it to be equivalent to cash when it comes to privacy.The digital euro is designed to be able to function offline in a way that would offer users a cash-like level of privacy, both for sending money to other people and for making payments in shops. When paying offline, only the payer and the payee would know the personal transaction details of the payments made. Anti-money laundering checks would be carried out by the distributing payment service provider (PSP) during the funding and defunding process, just as it is the case with cash withdrawals and deposits today.
In the case of online transactions, the Eurosystem would not identify users making or receiving payments, thereby protecting their personal data, but PSPs would be able to identify users for the purpose of compliance with anti-money laundering rules.
I… am not entirely clear on the technical aspects of it, or if what they said can actually accomplish what they claim. However, it is a factor they are considering, however much you actually trust them aside.
I would be interested in an explainer, for sure, on how they actually accomplish any of this (assuming they deliver).
Does anyone know if “online” here means for purchases made in e.g. a web browser, or also at a POS terminal that happens to be connected to the internet?
Since when government doesn’t have access to your purchases? Gov has access to absolutely everything they want to know about you
Since when government doesn’t have access to your purchases?
How does the government know where I spend the amount of cash I withdrew from my account?
Well since birds aren’t real and are actually government drones, there is your answer!!!11!11
Thats the point. We are entering the realm of the unknown. Too many people are way too eager to accept the belief they want to believe. Thats why I am asking for people who actually know more than me.
They can simply request it from bank or Visa / Mastercard
And VISA does know how exactly that I just spent 50€ cash on crack?
Of course they know, they owe the payment network, why wouldn’t they know how you use their gear?
Not directly a European government but the US government has a lot of control over Visa/Mastercard.
