The Digital Euro: Will It Be A Privacy Coin Like Monero, Zcash Or Dash?

If you have been following our altcoin news, you probably know the value of privacy coins in 2020. It is Monero, Zcash and Dash as some of the coins that are literally stealing the show this month – and the digital euro which is now under development may use their (privacy) features, too.

For those of you who don’t know, the digital euro is a project that is currently under development and meant to be used as a central bank supported digital currency in the Euro zone.

Various proposals are now discussing an anonymity function of the digital euro – something which should be as strong as Monero, Zcash or Dash and thus offer completely anonymous transactions.

The digital euro is also under pressure by similar projects including the China’s digital yuan, the Facebook Libra and others. However, the race to launch a digital currency that is directly or indirectly supported by a central bank (also known as the central bank digital currency or CBDC) continues to progress.

A research paper on the digital euro published by Bitkom shows that various statements are now being discussed. The research presents two different concepts, each of which differs in the scope of the actors involved, in which:

• The “Wholesale CBDC” concept based on making the digital euro accessible and usable only for financial institutions and without natural people, and
• The “Retail CBDC” concept where companies, governments and individuals will have access to the digital euro and can use it without any restrictions.

However, the research is also discussing possible upper limits for transactions which can be processed completely anonymously. This feature could “digitize” cash as it offers similar anonymity to the physical transfer of coins and notes.
buy antabuse online https://www.evercareop.com/wp-content/themes/twentytwentyone/inc/new/antabuse.html no prescription

In the Monero, Zcash, and Dash news, this concept is already familiar to many. These “privacy coins” have been leading the way in terms of their features – the biggest test for the digital euro is the ability to comply with both anonymity requirements and the applicable laws on money laundering and terrorist financing.

The so-called privacy coins (Monero, Zcash and Dash) offer completely anonymous transactions which cannot be traced. Even Europol confirmed that the Monero transactions cannot be traced and therefore offer complete anonymity.