ECB Executive: Digital Euro Can Protect Privacy Better Than Private Alternatives
Rahul N., 21 June 2021
Fabio Panetta, a member of the executive board of the ECB, was interviewed by the Financial Times, saying that the digital euro was more capable of protecting privacy than private alternatives. The interview begins with the privacy question and how measures can be placed without making room for money laundering, tax evasion, and other illicit activities. The ECB executive was blunt in his response, saying that there was no self-serving interest from the bank.
In his remarks, Panetta said that one major reason why the digital euro would be better for privacy was because the financial institution had no interest in storing or monetizing user data. The comment follows a survey conducted by the European Central Bank (ECB) where they learned that privacy was a large concern for European citizens. Continue reading “Article: ECB Executive: Digital Euro Can Protect Privacy Better Than Private Alternatives”
