The idea of a decentralized asset that is accepted by governments continues to gain popular across the continents. On this occasion, the German finance minister, Olaf Scholz, has recently made statements in which he expresses himself in favor of a national digital currency.
Scholz said that the idea of Facebook with his Libra project is something of interest, from a critical point that we will explain. The Minister of Finance referred to this idea with the concept of e-euro limiting:
“Such a payment system would be good for the financial center of Europe and its integration into the global financial system.”
The German government recently rejected the introduction of private digital currencies as an alternative to the registered currency, stating:
“A central element of state sovereignty is the publication of a currency, we will not leave it in the hands of private companies.”
Not only has the German government turned against Libra. Many other countries do not support this initiative due to the possible decentralization of capital / power that this could bring in some years. To make these statements are based on the number of users registered on the Facebook platform, a total of 2400 million, which may become possible users of that currency. In this way the German finance minister himself seeks the solution to this problem by creating his own digital currency of the European Union.
Last week the German country approved a blockchain strategy. With this, what is intended is to avoid the issuance of parallel currencies, including Libra.
On the other hand, Germany is not the only country that is taking measures regarding cryptocurrencies. We can find 2 different planes in this aspect. Last week the country of central Europe Liechtenstein pioneered the adoption of a legal framework for cryptocurrencies.
Crossing the puddle and going to the United States. Last week the idea of a digital dollar was defended by some legislators from this same country. For this, a letter was sent to the president of the US Federal Reserve.
On the other hand, we know that the digital version of the yuan in China will arrive later this year.