{"id":14399,"date":"2022-11-10T09:26:12","date_gmt":"2022-11-10T09:26:12","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/queen-maxima-of-netherlands-sees-multiple-benefits-of-digital-euro-regulation-bitcoin-news\/"},"modified":"2022-11-10T09:26:12","modified_gmt":"2022-11-10T09:26:12","slug":"queen-maxima-of-netherlands-sees-multiple-benefits-of-digital-euro-regulation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/queen-maxima-of-netherlands-sees-multiple-benefits-of-digital-euro-regulation-bitcoin-news\/","title":{"rendered":"Queen Maxima of Netherlands Sees Multiple Benefits of Digital Euro \u2013 Regulation Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Queen Maxima of the Netherlands has outlined multiple benefits central bank digital currencies (CBDCs) could bring, particularly in the area of financial inclusion. \u201cGovernments could use a digital euro to channel financial support to low-income households. This would deepen longer-term inclusion, and act as a gateway to other financial services,\u201d she said.<\/strong><\/p>\n

Queen Maxima Envisions a Better Future With CBDCs<\/h2>\n

Queen Maxima of the Netherlands talked about central bank digital currencies (CBDCs) Monday at the \u201cTowards a legislative framework enabling a digital euro for citizens and businesses\u201d conference. She is the United Nations Secretary-General\u2019s Special Advocate for Inclusive Finance for Development (UNSGSA). The conference was jointly organized by the European Commission and the European Central Bank (ECB).<\/p>\n

Focusing on financial inclusion and how a digital euro might \u201cbenefit underserved groups,\u201d Queen Maxima explained that \u201cTraditional financial services have created roadblocks for inclusion,\u201d citing high transaction fees, minimum account balances, and onerous document requirements.<\/p>\n

She added, \u201cNew digital financial services suffer from a low level of trust, poor customer experiences, and the lack of digital capacities among some groups,\u201d elaborating:<\/p>\n

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While CBDCs are not the only way to overcome these barriers, they can help: both encouraging providers to lower costs and broaden access, while also incorporating the advantages of central-bank money \u2014 such as safety, finality, liquidity, and integrity.<\/p>\n<\/blockquote>\n

Noting that CBDCs could also \u201coffer benefits for social policies,\u201d she described: \u201cGovernments could use a digital euro to channel financial support to low-income households. This would deepen longer-term inclusion, and act as a gateway to other financial services.\u201d<\/p>\n

Nonetheless, she warned that the benefits that CBDCs could bring \u201care not automatic,\u201d suggesting:<\/p>\n

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The implementation of any CBDC could be accompanied by policy reforms and safeguards, to address difficulties and risks. These include overcoming low levels of financial and digital literacy, and operational challenges, including cybersecurity.<\/p>\n<\/blockquote>\n

\u201cThe design of CBDCs could give people more control over their transaction data, and the ability to share it with a wider set of financial service providers,\u201d she further opined. \u201cThis could support envisioned innovations from the Digital Markets and Digital Service Acts.\u201d<\/p>\n

In conclusion, Queen Maxima said:<\/p>\n

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I am encouraged by the technical work and ongoing consultation by the European Central Bank \u2026 So let us envision that better future and build a digital euro that works for all Europeans.<\/p>\n<\/blockquote>\n

The Eurosystem has launched the investigation phase<\/a> of a digital euro project and the European Commission has announced a legislative proposal<\/a> on a digital euro for early 2023.<\/p>\n

ECB Chief Christine Lagarde said in February that a digital euro will not replace cash<\/a> but could offer a convenient, cost-free means of payment. In September, the ECB chose Amazon and four other companies to help develop<\/a> a digital euro.<\/p>\n

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CBDC<\/a>, central bank digital currency<\/a>, Queen Maxima<\/a>, Queen M\u00e1xima CBDCs<\/a>, Queen M\u00e1xima Netherlands<\/a>, Queen M\u00e1xima Netherlands CBDCs<\/a>, Queen M\u00e1xima Netherlands Christine Lagarde<\/a>, Queen M\u00e1xima Netherlands crypto<\/a>, Queen M\u00e1xima Netherlands cryptocurrency<\/a>, Queen M\u00e1xima Netherlands digital euro<\/a>, Queen M\u00e1xima Netherlands European Commission<\/a><\/div>\n<\/div>\n

What do you think about the comments by Queen Maxima of the Netherlands? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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