📣 ECB updated the 2-year preparation phase for digital Euro CBDC! 🎯 Privacy and data protection are a priority, but there are some disturbing features. Crypto entrepreneur Daniel Batten stated that these features will make it easier to spy on you, remove you from the platform, and freeze your account. 😲

CBDC is programmable money on a blockchain managed by smart contracts. This gives the bank the ability to control the amount of money. The ECB will limit the amount of digital euros people can hold in their accounts "to maintain a sound financial environment".

However, the ECB would need to use the central bank's database, which would eliminate its claimed secrecy. However, the decision on whether to issue a Euro CBDC will be made after the European Union legislative process is completed and the preparatory phase ends.

Fintech entrepreneur Kim Dotcom warned about using the digital Euro: "It's a tool of financial surveillance and control. First the digital Euro, then digital identity and social points. If you do or say something they don't like, your funds will be blocked."

Europe, along with many other countries, is aiming to eliminate cash and turn it into a central bank-controlled digital currency. What are you thinking? We are waiting your comments! 💬👇