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**Surprising Declaration by the Head of the German Federal Bank: Will the “Cryptocurrency” Make People’s Skin Turn Pale?**
The introduction of digital currency has become a major problem for many people in society. Many are afraid that the European Central Bank (ECB) will be able to see every aspect of their life and finances, and even control them. According to the president, this fear is unfounded, as the system does not allow monitoring of transactions, nor does it show who pays what. Servers will be located on the continent, not in Asia, as many large companies do, which Nagel believes could bring greater security. The authorities and financial institutions have already monitored suspicious activities and illegal actions, thanks to regulations.
Another fear is the abolition of cash. While card transactions are widespread in developed countries, it’s a different story in Eastern Europe. Countries like Slovakia, Austria, or Romania tend to prefer using cash and are more skeptical about digital solutions. A noticeable gap can be observed among age groups as well: while nearly half of German citizens over 65 refuse to provide online data, only 10% of people between the ages of 18-24 share this sentiment.
Joachim Nagel emphatically rejected the fear that the ECB would take away cash from society altogether. He emphasized that digital solutions will not replace cash, but rather complement it as an important product for the central bank. The statements refer to the planned introduction in 2025, but are already prepared for the public and institutions to adapt to the digital euro.
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Source: www.bitcoinbazis.hu
