Not only is it a solution looking for a problem but it also opens up exchange fees and chance to be more easily robbed by North Korean government backed hackers looking to evade sanctions.

https://www.euronews.com/2026/09/28/north-korean-hackers-sus...

Anonimity, at least until someone figures out who owns the wallet.

It's not for you. It's for companies. They're implementing it first for person-to-person transactions just to test the system. Wouldn't want a big corp to lose millions of euro because of a bug!

Well... no so much in practice. My bank automatically enrolled my personal phone number into the system. I asked them to remove it 2 months ago. One month ago I received a reply that they're working on it. I may be the only person in this country that asked for this - they're now probably thinking which is cheaper: to pay the GDPR fine, repeatedly, or patch their banking software and re-certify it, or maybe refuse to have me as their client.

Anyway, I don't know if you actually read GDPR, but the government (& various agencies) and the bank are both exempted from GDPR. They will all know everything I bought through this system, from where and at what price.

And this seems to be another attempt at that. We already had the European Payments Initiative (with Wero), and now they are starting the European Network for Payments. Sounds like the People's Front of Judea vs. the Judean People's Front.

Edit: There was also the Euro Alliance of Payment Schemes

> to convince payment processors that phones can be trusted to manage finances

Phones can NOT be trusted to manage finances. They should issue EU credit/debit cards instead.

> I'd much prefer a European implementation of the same remote attestation APIs that Google uses to convince payment processors that phones can be trusted to manage finances.

You're basically talking about "government Android phone" since it is built into the chips on the device.

I wonder how 330 million average Europeans will respond to not being able to use iPhones or Google Android phones anymore because they are instead being forced to use "government Android phone" for safety from USA.

I think they'll actually just revolt against the government instead

There's already competition between payment processors, and not lower prices.