Privacy

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A place to discuss privacy and freedom in the digital world.

Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.

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[QUESTION] Privacy and the digital euro (lemmy.world)

submitted 5 months ago* (last edited 5 months ago) by Asudox@lemmy.world to c/privacy@lemmy.ml

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Some talk about the privacy of the digital euro has been made. Some people said that your transactions are going to be tracked. Should an european worry about it? Would GNU Taler be a possible solution?

And it's not like the digital euro is some dream, it will become reality soon.

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[–] umami_wasbi@lemmy.ml 10 points 5 months ago* (last edited 5 months ago) (7 children)

Not too knowledged about digial euro, but here's my two cents.

We are already using digital currency. Your card and bank transfer are being monitored(AML), looked at(IRS & credit agencies), and data mined(data brokers) every second. It stared when banks started using electronic records and government ditched the gold standard. Today's currency is mere a certificate that both sides trust there is value in it. IMO I can't see it enables new innovative use cases but a pure gmmick. Just a solution in serach of a problem. There are necessity and usability issues before privacy issue.

And no, I don't think it can replaces physical cash any time soon. If they really want to deprecate physical cash, they need to ensure everyone have a digital wallet, and everyone knows how to use it, including your blinded friend and granny.

[–] ISOmorph@feddit.de 3 points 5 months ago* (last edited 5 months ago) (1 children)

There are a lot of issues with your post imo.

First, cash is going away, soon. Sweden has done it years ago. Europe is now playing catch up.

Second, a universal digital currency will remove all system heterogeneity. Yes money is already digitalised, but across several proprietary environments. I can and have set up several accounts across several banks so my spending cannot be fully tracked by a single corporate entity. This will be moot once everyone has to use the same harmonized system.

Third, one of the sponsors of the universal European currency has been caught talking about time limited digital currency. As in, spend your money or it just disintegrates after a set amount of time. Which really destroyed a lot of trust in the endeavour

[–] umami_wasbi@lemmy.ml 0 points 5 months ago

I don't even know if you know what you're talking.

First, cash is going away, soon. Sweden has done it years ago. Europe is now playing catch up.

Please refer the OP's post in this thread.

Second, a universal digital currency will remove all system heterogeneity. Yes money is already digitalised, but across several proprietary environments. I can and have set up several accounts across several banks so my spending cannot be fully tracked by a single corporate entity. This will be moot once everyone has to use the same harmonized system.

That's the privacy problem the OP's saying.

Third, one of the sponsors of the universal European currency has been caught talking about time limited digital currency. As in, spend your money or it just disintegrates after a set amount of time. Which really destroyed a lot of trust in the endeavour

How's that related to my post?

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