In doing so, we are not just shaping the future of payments – we are reaffirming Europe as a place where innovation serves the public good, where resilience meets opportunity and where our shared currency continues to unite us in an increasingly challenging world.
This is the kind of word vomit the ECB comes up with after their intern got a ChatGPT+ subscription. #AIslop
This does not forebode well...
The digital euro is designed with three critical features in mind.
First, its infrastructure will be distributed across at least three regions, each equipped with multiple servers. So in the face of a cyberattack or one of many other hypothetical crisis scenarios, digital euro payments can continue – disruptions should not bring the system to a standstill.
Much decentralised, much wow.
Second, the ECB will provide a dedicated digital euro app, which will let you switch seamlessly between providers. This means you will be able to continue using your digital euro even if some providers are hit by an outage.
Right, coz apps never fail.
Third, the digital euro will also function offline, adding another layer of security and reliability. Even if the internet is down, ATMs are out of order or you have no phone signal, you will still be able to pay with digital euro.
Hmmmm....