Digital central bank money and cash abolition

#5minF – 5-Minute-Friday

The principle of the “5-Minute-Friday” is probably known to many by now. This concept also fits perfectly for the popular podcast model. Every Friday Alex Bechtel, Jonas Gross and Michael Blaschke try to explain a question of the Bitcoin & Crypto community a little bit more in 5 minutes and briefly and crisply address the desired topic.

In recent weeks, there has been an increasing number of reports and discussions on the subject of the digital euro and the possible abolition of cash. Large media houses repeatedly offer a stage to so-called experts who philosophize that the digital euro is being introduced solely to abolish cash and is to serve as a surveillance instrument for the blameless citizen. Even the chief economist of a major German bank was quoted as saying: “Cash is printed freedom! It must not be replaced by the digital euro”.

In today’s 5-min Friday episode, Alexander Bechtel explains why he agrees with the first part of that statement, but the second part is misleading at best. In this context, he shares two theses on the digital euro and the abolition of cash:

Digital central bank money and cash abolition
  1. The central bank will play no role in the abolition of cash. If anything, the ECB ensures that cash survives longer than it would in a market without a central bank.
  2. In the long run, the digital euro is our only hope of continuing to make payments anonymously and offline without breaking the law.

If you want to know how exactly Alexander Bechtel comes to these conclusions and how he justifies these theses, then listen to the current episode of 5min Fridays, it’s worth it!

Bitcoin, digital euro or cryptocurrencies: The future of money is being rewritten right now. With the Crypto Corner, we provide a point of orientation for crypto enthusiasts without falling into a hype. Alexander Bechtel from Bitcoin, Fiat & Rock’n’Roll regularly brings useful and interesting content about digital currencies and especially the digital euro.

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Nicole Nitsche
Nicole Nitsche ist studierte Theaterwissenschaftlerin und hat mehrere Jahre als Regieassistentin beim Thalia Theater Hamburg gearbeitet. Danach war Nicole Leiterin der Presse-und Marketingabteilung eines Hamburger Musiklabels. Zu ihren täglichen Aufgaben zählten dort, neben dem Verfassen von Pressetexten, die Umsetzung und... mehr
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