Erin
European News 🇪🇺The EU will launch the digital euro as a 100% European digital payments system to replace reliance on Visa, Mastercard, and Apple and Google Pay, with the European Central Bank issuing a digital form of cash. It will be built entirely in Europe, have zero transaction fees, instant payments, and strong privacy, giving the EU full control over its payments infrastructure.
Tim Ward ⭐🇪🇺🔶 #FBPE@eunews pw;dr
Have Visa, Mastercard, etc, launched their lawsuits yet?
Ray McCarthy@TimWardCam @eunews
Visa & Mastercard can't sue.
There is already IBAN (free online transfer in EU), which even works in USA, and other funds transfers apart from PayPal and Western Union.
"13 of the 20 countries in the euro, including Ireland, have no domestic card scheme. You use an international operator, or you pay in cash."
It's alternative to Revolut (can be cardless), PayPal, Apple, Google, Amazon or clunky IBAN (which is only online), not Visa/Mastercard USA Credit or debit cards.
@raymaccarthy @eunews It is generally believed that in the USA anybody can sue anybody for anything. Suing a foreign supranational not-government for "unfair not-state competition" seems fairly mild by US standards.
Whether they would win, many years and untold hundreds of millions in legal fees down the track, is a different question. Particularly if Trump adds to the fun, and the lawsuit targets, by applying some random set of sanctions to "Europe" in retaliation for this "attack on US business".
hex
Lazarou Monkey Terror 🚀💙🌈@Hex @TimWardCam @raymaccarthy @eunews the US is pissing it all away because they elected a racist tyrant to rape the country to own the libs.
It is not a serious country.
It is not a serious country.
Quasit@Lazarou @Hex @TimWardCam @raymaccarthy @eunews
Don't fall into the trap of assuming that everything is because of Trump. We've been stampeding towards fascism for decades, under both parties. Our oligarch overlords want fascism because they fear the people. Pretending that everything will be fine once Trump is gone is completely delusional.
It doesn't matter who's the President, ultimately. What matters are the people BEHIND the politicians: the billionaires and the big corporations.
My fear is that most liberals will simply close their eyes and go back to sleep once Trump is gone. That's what the oligarchs want to happen.
The system is terminal. It all has to go if we want to survive as a species.
CharlieG@Quasit @Lazarou @Hex @TimWardCam @raymaccarthy @eunews @johnelalamo Of course it matters who the president is.
@Charles @Quasit @Lazarou @TimWardCam @raymaccarthy @eunews @johnelalamo I would probably say that the problem is larger than the president, and liberals would like to not believe that fact.
CassandraVertThe apathetic of all stripes would like to believe that. They can't wait until they can go back to not paying attention.
@Hex @Charles @Quasit @TimWardCam @raymaccarthy @eunews @johnelalamo 77 million Americans voted to harm everyone else out of spite, they'll still be around after Trump goes.
@Lazarou @Hex @Charles @TimWardCam @raymaccarthy @eunews @johnelalamo
You're being unfair to millions of Americans. They were presented with a choice between two shit sandwiches; one that said that everything was fine (and promised to keep using our tax dollars to kill children), and the other who was an obvious liar but said he recognized that we were suffering and that he would solve our problems.
The people SHOULD have revolted, given that "choice". But short of that, they chose the slightly less hopeless alternative.
Some of them are racists and fascists, sure. But I believe that most of them are simply desperate, and ignorant. From their perspective, they made the right choice. But they are NOT beyond redemption by any means.
@Quasit @Hex @Charles @TimWardCam @raymaccarthy @eunews @johnelalamo they voted for a Paedophile bigot, I don't give a fuck about their pathetic reasons, they voted for Spite and Hate and that's what I judge them by...not their fucking tears on social media about their nazi feelings being hurt.
77 million American voting for a child raping monster to destroy their country because of their 'feels' is shit excuse and a WHITE excuse.
@Charles @Lazarou @Hex @TimWardCam @raymaccarthy @eunews @johnelalamo
Not to the billionaires and the big corporations. They call the shots no matter which party is in power.
Only the little people care about who happens to be President, and that's because they don't know the truth: that both parties are owned heart and soul by the oligarchy.
Veza85UE@Hex @TimWardCam @raymaccarthy @eunews The ECB does not concern itself with the opinion of adderall-addled sheep.
Raymond Russell@raymaccarthy @TimWardCam @eunews
In the UK my debit card has the Mastercard Logo on it for card payments but with the associated bank account I can do free instant bank transfers to any other UK bank account via online banking.
In the UK my debit card has the Mastercard Logo on it for card payments but with the associated bank account I can do free instant bank transfers to any other UK bank account via online banking.
@raymierussell @TimWardCam @eunews
This is true of almost all banks. The Debit cards are controlled by Mastercard or Visa (USA). Usually free transfers within UK, or free within EU. Brexit cut off free transfer UK to EU.
BUT IT'S CONTROLLED BY the USA GOVERNMENT. Also a parasite as the bank is charged and the money goes abroad.
The USA Government can disable that card without a court order!
So for EU there will be a system not depending on the whims of US Corporations or their Government.
Sean MurthySean Murthy (@[email protected])
@[email protected] something like India's Unified Payments Interface? "In 2025, UPI surpassed Visa in digital payments, according to the International Monetary Fund. Over 640 million transactions are handled via UPI per day, compared to 639 million by Visa." https://en.wikipedia.org/wiki/Unified_Payments_Interface
Paul BrownjohnSue for what - fair competition?
Americans make me laugh!
When they are shamelessly exploiting a monopoly or oligopoly they scream from the rooftops how they love the market and free enterprise, but the moment anyone actually comes into the market to end their crass exploitation, they start screaming blue murder about unfair competition.
Reay
LonM@eunews I can't read the linked article. Will it use something like GNU Taler - be fully open source, transparent, interoperable, and buyer-private? Or will development and maintenance be outsourced to a private company with everything funnelled through a closed source app.
momoHere you go:
- https://archive.is/0KvH3
- https://en.wikipedia.org/wiki/Digital_euro
No it will not be GNU Taler.
SibshopsYou might watch this talk:
[39c3] Von Groschen und SpurLos - GNU Taler auch auf eurem Event!
Anonymes Bezahlen ganz ohne Bargeld? Digitales Bezahlen ohne Gebühren auf jede einzelne Transaktion? Keine zentrale Datensammelei bei US-amerikanischen Zahlungsanbietern, und trotzdem keine Blockchain? Geht nicht? Geht doch! Schon auf mehreren ...
Else, Someone
Vladimir Campos@LonM @eunews There's an official ECB page with all the information, including progress.
👇🏻 https://www.ecb.europa.eu/euro/digital_euro/html/index.en.html
👇🏻 https://www.ecb.europa.eu/euro/digital_euro/html/index.en.html
Vivien (dentelle & numérique)@vladcampos @LonM @eunews the way I understand it is “we would have loved to make it work with privacy but since there can be fraud there will be no privacy”
EDIT: here is what Taler says about the proposal:
@gugurumbe @vladcampos @eunews Reading through some of this, that's the conclusion I'm coming to as well. No privacy, everything through proprietary apps. The ECB site also mentions blockchain which is giving me the heebies.
If that is the case, then I am genuinely baffled as to what the point of a digital euro would be over implementing a pan-EU debit card processor to rival the likes of paypal / visa. We already have widely available cashless payment infrastructure, what good does a digital euro offer for what will end up being a much more expensive implementation?
Even more confusing considering the swiss were already experimenting with Taler.
Big Kumera Energy@LonM @gugurumbe @vladcampos @eunews they have stated it will not use blockchain. This is not a cryptocoin, it is a payment mechanism.
Andy MouseAs a European, I will try my best to stick to non-European payment methods. I don't get the hype about this, why the f* would I want to use a system that give the cops closest to me the most information?
Parade du Grotesque 💀@andymouse @LonM @gugurumbe @vladcampos @eunews
One more time: do you understand that paying with a credit card gives all your information to
1. Your bank
2. Your card issuer
3. The payment processor that sits between these two?
If you want privacy, pay in cash. Cash guarantees your privacy. All other payment schemes do not.
Source: I used to work for a payment processor.
@ParadeGrotesque cool, but we want digital cash with strong privacy though.
Which you are not going to get from the EU, or any serious European bank.
What these guys want is to bypass the big 3 (Visa, MasterCard and Amex) and avoid the kind of bullsh!+ the US is doing right now.
@ParadeGrotesque looks like you do not want digital cash with strong privacy. Any reasons?
Because I'd rather have a European payment system that's independent of the US. Which is what Euro Cash is supposed to be.
@ParadeGrotesque sorry, this is “digital cash with strong privacy” and a thread discussing these aspects. If you want something else, go make your own thread. Good luck explaining why “same thing as the US but with a different flag instead” matters.
Lillian Violet@gugurumbe @ParadeGrotesque I am hoping (though not at all expecting) that one of the things it might be better for is less puritanical rules about paying for sex work of any kind online. It would be really nice if people will just be able to receive money and not be kicked off because they share nudes or videos or anything else.