Governor Gabriel Makhlouf of the Central Bank of Ireland has recently declared that even if the Eurozone hasn’t decided on a CBDC officially, it is “very likely” that it will happen.
He declared: “In my view, it’s not a question of if but rather how and when.”
Makhlouf also said that the release of the digital euro would be a “fundamental shift” in the financial architecture of the Eurozone.
He isn’t as keen on cryptos, which he believes are accompanied by an “unhelpful and misleading descriptor,” making them fall out of the definitions of currency.
The governor added that some cryptos don’t have an anchor that would give them stability, but “on the other hand, on the evidence some people do like to collect them, just as some like to collect other things (such as stamps, for example). Buying such items can be profitable but it can also be loss-making.”
Stablecoins didn’t have an easy time either, as Makhlouf declared they’re only “as good as the governance behind the promise of the backing.”
Source: CoinDesk.com