After the announcement that there will be no CBDC (Central Bank's Digital Currency) in the US as long as Donald Trump is president, the European Central Bank has said that it needs its own CBDC, the Digital Euro.
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Now, in a centralized way, both The European Central Bank has confirmed that it is exploring and testing ways to issue the Digital Euro without central control.
However, the European Central Bank has been studying for many years to issue the Digital Euro, but it has not come out yet. Christine Lagarde, the president of the central bank, said that it could replace other digital currencies and create a currency that could be used like regular money.
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The crypto industry doesn't like CBDCs very much and they mainly point to the fact that the government will have full control over your money. In fact, CBDCs will be fully under the control of governments, and we have also seen in the Brazilian government's CBDC code that smart contracts are created so that they can do whatever they want.
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So for those who want to manage their own money, CBDC and decentralized cryptocurrency are still as far apart as oil and water.
