> The ECB has pitched the digital euro as a way to cut Europe's reliance on U.S. credit cards and as a response to U.S. President Donald Trump's global push for stablecoins pegged to the U.S. dollar.
Over 66 countries of the world peg their currency to the US Dollar; by buying and selling to keep their currency's exchange price fairly close to USD.
There may be value in reviewing the pushback on Diem; why they didn't want one global stablecoin and why they didn't want regionally-backed stablecoins on a centralized ledger tentatively backed by established competitors like PayPal Visa, Mastercard, Coinbase, and Stripe.
Diem was Apache licensed open source software
There are no fees to use ILP.
ILP is an open standard.
France has the CB (Carte Bleue) network, and most banks issue dual brand cards Visa/CB and such. Which one is used when you pay and the amount of transaction fees is pretty opaque. I expect something similar to happen with this m "digital euro".
westurner•4mo ago
Over 66 countries of the world peg their currency to the US Dollar; by buying and selling to keep their currency's exchange price fairly close to USD.
There may be value in reviewing the pushback on Diem; why they didn't want one global stablecoin and why they didn't want regionally-backed stablecoins on a centralized ledger tentatively backed by established competitors like PayPal Visa, Mastercard, Coinbase, and Stripe.
Diem was Apache licensed open source software
There are no fees to use ILP. ILP is an open standard.
"ILP: Peering, Clearing, and Settlement": https://interledger.org/developers/rfcs/peering-clearing-set...