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  • 11 Posts
  • 21 Comments
Joined 1 year ago
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Cake day: June 14th, 2023

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  • Yes, bank accounts are still (only) bank accounts, which they have been for centuries with only cash (coins or banknotes) and paper-based accounting. Isn’t this the point? If the digital euro is to be a digital analogue for cash, surely one would expect it to play the same role as cash, which isn’t the form to store your entire wealth and belonging, but to serve as an easily tradeable and transportable form of money. The ECB doesn’t want to provide and manage bank accounts, or rather no central bank does as it’s simply not what banking has always been, it’s always been a private endeavour.

    I think the digital convenience of “anonymous” payments is real, and also that the ECB wanting to implement the digital euro as an online e-commerce compatible system from the beginning, directly challenging various different payment circuits with a single universal one, is also a significant development.


  • At the moment the idea that I have understood reading the various documents and interviews is that the digital euro wallets will not be a sort of bank account managed by the ECB, but they will be managed by the private banks (with similar guarantees for banking inclusion as existing bank accounts) and will be interoperable in order to use the common ECB-backed digital euro.

    Therefore you still have the banks managing the infrastructure; also to convince the banks to adhere and not to completely destroy the existing electronic payment circuits there is a proposal to have a limit on the maximum transaction amount.


  • I would also like to add that another horrible treatment of young men and women involved in the Japanese idol market (I would call it a meat market even) is the immense social pressure from the talent companies, which has been ruled illegal and unconstitutional, to keep romantic relationships secret, to always appear “available” to the fans. Despite the rulings there are still idols who get caught up in “scandals” from time to time and are more or less forced to issue massive apologies or leave their agency.











  • The centre-left parties in Italy have been pushing for a minimum wage law since the early spring, when the biggest party (PD) finished its congress and a new direction was elected. The right wing majority has now voted to delay any kind of discussion on the law proposal for two months, and the right wing minister for external affairs has gone on record saying things like “minimum wage is a Soviet measure” and “we need a rich wage, not minimum wage”.


  • I was very afraid that the themes would have been heavily skewed towards things like landmarks, famous people and events, which would plunge the subsequent discussions about the designs into a cesspit of nationalist in-fighting, but I was actually pleasantly surprised by the presence of a number of more sensible options. Not necessarily good, but sensible at least.

    I like the “hands” theme quite a lot, but it might come out a little bad on the graphical side if not well thought out. Still, hands and their symbolism has been present for centuries in Europe to depict values and moral concepts, both religious and secular, I think it could be the best idea to represent abstract European values. I bet that people will just choose the “pretty” option though, so I expect birds, also because it can once again be tied to nationalism.






  • At the moment, the plan is for the digital euro to be issued/“minted” by the ECB and also all transactions will be resolved by the ECB, however the ECB won’t offer any sort of digital euro account or banking service, the banks will do that instead. The ECB is planning for the digital euro to be free to use for paying for private customers, free to use for donations or exchanges of money between people and free to use for online payments as well. They also want provisions specifically for poor and underbanked people.




  • Not at al honestly, I missed like half of the races and I find MotoGP a lot more interesting. Maybe some interest will come back now that MotoGP has its big break but it’s not a given. There’s also not much new technical or silly stuff coming out of F1 now honestly, everyone is converging extremely fast on a couple of design and we can only wait until they get there, which might be never because Red Bull has a massive advantage. I bet that by October or so interest in F1 will be significantly lowered.