Crypto platform EuroSwap could boost digital euro

The crypto platform EuroSwap has a work team focused on clarifying doubts in common people about cryptocurrencies, blockchain technology and the future of the digital euro.

According to the platform, there are currently many doubts in the population regarding the use of digital currencies. In fact, although the European Central Bank has taken important steps towards bolockchain technology, mistrust of central bank digital currencies or CBDCs persists.

The trials carried out by some governments inside and outside Europe with digital assets, as well as the success stories in other latitudes, have shed light on the search for a better understanding of cryptocurrencies. But a regulatory framework for these assets is still required, which gives security to the population.

To pave the way towards this goal, EuroSwap has created EuroSwap EDEX, which allows residents of the European Union to buy and sell cryptocurrencies, in addition to investing in them, but using the euro. It offers the fiat-crypto link, which makes cryptocurrency trading possible, even for those who do not have deep knowledge on the subject.

Challenges for the digital euro

The new digital economy had already reached great dynamism before the arrival of the Covid-19 pandemic. E-commerce has also taken hold in all industry sectors globally.

Against this background, the European Union is forced to study new ways not only to strengthen the euro, its fiat currency, but to compete with cryptocurrencies, which are here to stay.

The European Central Bank is aware that the post-pandemic stage can generate scenarios such as a lack of cash, an excessive increase in the demand for electronic commerce, as well as the launch of new digital currencies around the world in order to face other problems, such as inflation or the devaluation of the currency of each country.

Ensuring the population’s access to safe money may represent the definitive boost for the ECB, with possible progress towards the development and adoption of the digital euro in a couple of years.

M.Pino

Source: beincrypto