Questão de InglêsInterpretação de texto | Reading comprehension

Text CB1A2 

        Currently, the Digital Euro has not been launched —
though there are signs that a launch may be coming sooner rather
than later. By October 2025, the ECB (European Central Bank)
has indicated a second phase of the preparation for the Digital
Euro. By then, the ECB will have prepared an outreach plan,
procurement standards, and technology providers.

        The Digital Euro has potential downsides, many of them
echoed in the other launches of central bank digital currencies.
For example, the central bank will become a technology
company focused on procurement with central points of failure.
This was a breeding ground for corruption for the bureaucrat
fortunate enough to make these technical choices in China.

        While the Digital Euro is slated to “coexist” with cash,
this also comes when EU (European Union) nations are voting on
ending end-to-end encryption (a critical digital privacy tool) and
have started to restrict cash with limits being placed on how
much you can spend in cash to accelerate its slow demise.

        User privacy is said to be the ECB’s “chief concern” as it
has been designing the central bank’s digital currency. Certainly,
the ECB is aware of public perception that has negative
surveillance, control, and privacy implications in mind. The ECB
has been at pains to say that the Digital Euro will “coexist” with
cash and that unlike the e-CNY (China’s central bank digital
coin) it will not be tied to a “social credit” score or place limits
on how money is spent.

        A big part of the ECB’s drive towards the Digital Euro is
to
compete and pry Europeans away from Bitcoin,
cryptocurrencies, and “stablecoins”.

        Central bank digital currencies are a direct liability of the
central bank. Since the central bank has the power to issue
currency, this means that the central bank can essentially create
“digital euros” if it wishes to. The architecture and data within a
central bank digital currency are usually built completely by the
central bank supported by private vendors of its choice. In China,
the central bank has turned away from a distributed ledger
technology to a centralized data store, in which the technical
details are pretty scant. Hence, the central bank controls
everything, and the system has no external access. 

Internet: <www.forbes.com/sites> (adapted).