September 20, 2020

German Finance Minister Olaf Scholz wants to introduce digital euro

German Finance Minister Olaf Scholz wants to introduce digital euro

German Finance Minister and Vice Chancellor Olaf Scholz advocated the creation of a national digital currency.

Such a payment system would be useful for Europe and its integration into the global financial system, Scholz quotes the local business news magazine WiWo

Only last month, Germany adopted a blockchain strategy prohibiting the issue of any parallel currencies in the country. Then Scholz said:

A key element of state sovereignty is the issue of currency; we will not provide this opportunity to private companies.

In turn, the idea of ​​a digital dollar was alsoproposed by some US lawmakers. Last week, Representative French Hill (R-Arkansas) and Rep. Bill Foster (D-Illinois) asked the Federal Reserve, the country's central bank, to consider creating a “national digital currency.”

The Central Bank of China, on the other hand, is “ready” to issue a digital version of its renminbi at the end of this or the beginning of next year.