Europe is now taking steps to move to a cashless society.
Europe Now Taking Steps To Go To Cashless Society
July 6 (King World News) – Gerald Celente: The European Commission (EC), the European Union’s administrative body, has published draft rules that would govern the creation and implementation of a digital euro.
The European Central Bank is expected to decide whether to approve a digital euro some time this fall. Creating and adopting the digital central bank currency likely will take several years.
More than half of Europeans now prefer cashless means of payment, according to studies by the EC.
Europeans would still be able to use cash but also have the option of paying with digital euros through an app on a smartphone, the EC said…
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Using digital euros would not incur service fees and would not require an Internet connection.
A digital euro also would bring “unbanked” people into the financial system, the commission noted.
Under the published rules, users’ personal data would not be visible to the central bank.
Many countries around the world have seen a sharp drop in the use of cash and greater public interest in cryptocurrencies. As a result, more than 100 countries have either launched a central bank digital currency or are in various stages of planning one.
China issued its digital yuan for public use more than a year ago…
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TREND FORECAST:
China and the European Union are well ahead of the U.S. in creating digital currencies—China by as much as a decade, Europe by at least three years.
The U.S. Federal Reserve is set to debut its “digital payment system” this month, which, it says, will not only speed transfer of money but also could eliminate the need for an actual digital currency.
However, this electronic payment system would have to integrate seamlessly with the rest of the world’s digital currencies in order to be useful. Therefore, there will be an indefinite period during which the system will be tested, tweaked, and adjusted.
TREND FORECAST:
The Trends Journal has long forecast that the world was going from “Dirty Cash to Digital trash.” The primary reason for the transition is that politicians—most who never work a day in their lives and suck off the public tit—know every penny that was spent and what it was spent on so they not only know more information about the plantation workers of Slavelandia… but most importantly, so they can get every cent of tax money they can steal from the people.
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