Even though there was evident reluctance during the initial days, people now have started welcoming the same with open arms. As a matter of fact, the digital economy of the United States has been growing at triple the pace of its own national GDP.
Complete digitization of financial services, and currencies for that matter, is the next big thing set to happen in the fin-tech world over the next few decades.
Among the host of nations that are in their trial-and-testing phase, Europe has made impressive advancements lately.
Fabio Panetta, an exec board member at the European Central Bank recently revealed that one of the key objectives of the digital euro project was to combat the spread of digital coins created by companies.
Panetta also highlighted that transfers of up to €70 or €100 could be done using a Bluetooth link between devices.
“In our tests, we have experimented with two systems. One is a centralised system known as TIPS.
The exec further added that the ECB would complete its new oversight framework for private digital currencies and crypto asset providers by the end of this year.
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