European CBDC could become a reality sooner than you think

The European Central Bank (ECB) is likely to expedite its process of issuing a European CBDC if cash usage continues to show signs of unsustainability, thereby incentivizing the public to move to digital payment modes. It all started in June when social networking giant Facebook revealed its plans for stablecoin Libra, a private cryptocurrency that, on the one hand, aims to change the face of traditional banking systems and offer payment solutions to millions across the globe, but on the other, struggling to find support from regulators and government entities. Sensing a severe threat, the ECB came up with a