On Tuesday (September 15th), Germany’s leading digital security company, which plays a key role in the electronic payments sector, was asked by the head of the European Central Bank (ECB) to conduct a quick survey to create the official digital currency of the European Union. Asked.
Ralf Wintergast, Chairman and Group CEO of Giesecke + Devrient, said in a prepared statement: “We welcome and fully support Christine Lagardes’ approach to the digital euro, at the same time. [the] European level. In the digital world, speed is the most important factor. That’s why we need to focus on digital currencies before it’s too late. There is no doubt that we have the technological know-how and the innovative power to maintain financial sovereignty. “
In a speech on September 10 from Frankfurt, Germany, during a conference on digital banking and payments hosted by the Deutsche Bundesbank, Mr. Lagard provided the rationale for swift action on the digital euro.
“In the digital age, payment innovations make it easier, faster, and cheaper to interact, but this innovation is based on personal payment systems or creates new risks and is sovereign. It will also come in a new form using digital currencies that raises significant issues, “said Lagard, according to official writing records posted on the ECB’s website.
Mr Lagard said central banks need to provide and supervise digital currencies as consumers in regions such as Europe have shown that they prefer digital currencies to cash. He also said that the rapidly developing sector is dominated by a relatively small number of private sectors and needs to control currencies to maintain sovereignty.
“These issues are at the heart of the ECB’s mandate. It raises new questions as to whether the ECB should promote initiatives to integrate retail payments in Europe and even issue a digital euro. “Lagarde said. “We have a duty to help money contribute well to Europeans by playing an active role in balancing the risks and benefits of innovation in payments.”
In addition, “Here at the ECB, it is our duty to ensure that people have access to risk-free, low-cost payment methods and the latest payment services that reflect the changing economy.
“And secondly, given our size and influence, in Europe we have the responsibility of citizens to have choice and not be excluded from the payment ecosystem due to the unilateral actions of others. We are adapting to the global digital economy so that we can maintain the autonomy of European payments in the face of the risk of changing European payments. “
Giesecke + Devrient said in a prepared statement of the company: Not only can’t you rule? “
In addition, “Individual digital currencies managed by central banks give high priority to important social aspects such as risk assessment, data protection, segregation of authority, democratic control, and foreign competitiveness. It also defines the European regulatory framework for solutions. “
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