The purpose is to boost European companies. Right now they pay between 1-3% of every single transaction.
Next, banks will also get hit. If a digital Euro exists, bank transactions will go down, meaning less transaction fees for both consumers and companies.
Then there's convinience. People will be free to transfer money across the continent, and also to friends and family without any costs (some countries have that, some dont).
VISA and MasterCard is just a very unneccesarry middle man in 2025.
Who takes the bill then? Well, the EU does, because they work for the people, and the money gained is much larger than money spent. Net positive matematics.
It's not that dumb. There's a market for this, if you want it or not.
And if you're going to use crypto, it's better they use a currency that's not tied to the currency of an unstable country.
Also, the EU is looking to make a digital Euro anyway, which will not be a crypto coin as you know it, but a way to take power away from VISA and Mastercard, which will save European countries for billions each year.
Yeah, just as they promised. For every fee they up the numbers. This time they are also ready to do more than hurting their wallets directly, which is much more interesting.
Otherwise Google will just treat is as a cost of doing business.
Even though it would be better for the world if everyone blocked that shit (maybe except YouTube, as it got its use cases), but they blocked it for all the wrong reasons.
They dont give a shit about well-being or standing up to big tech. They just want all ideas of an opposition to dissapear.
They are silencing free speech - at least that's the goal.
We are talking about stable coins, which is on a blockchain. The app is not important, as the stable coins would have to integrate will alot of paying options and banks.
Hopefully, in the EU at least, the verification will be provided by the government. Like a 2FA, meaning Big Tech would only get a verified token and nothing else.
The government already got passports with our face, and have had it for many years. They could use that information.
That would mean that any platform could implement this verification, and never get hold on any data.
Yeah, I was just curious if the app could harvest it anyway via the SDK or something.