Comment by ranguna
17 days ago
Why would anyone use wero when the digital euro gets released?
The article briefly touches this point but dismisses it saying wero and the digital euro complement each other, but doesn't go into detail on how. I see no point in a privately run digital currency when we can have a public one. I guess whichever has good privacy, reliability, ease of use and speed will win.
A digital euro is intended to the the digital equivalent of cash. It is issued directly by the central bank. Currently, consumers cannot have an account at the central bank. They have a balance at a commercial bank, and the commercial bank has an account at the central bank. Right now, you must have a private middleman to do any banking. The digital euro should offer a public alternative to that.
(but it probably won't ever happen, because banks are lobbying against it with FUD campaigns, they feel like it threatens their existence)
Wero is something completely different. It allows consumers to easily pay merchants, mostly online. The digital euro is not a payment network in the same sense as Visa, Mastercard, iDEAL and others.
Is it really not?
https://www.ecb.europa.eu/euro/digital_euro/faqs/html/ecb.fa...
It says they'll have offline transactions, if they have that, then you can probably make those "offline" transactions from Kms away from the receiver. We'll see how things evolve, I'm still not convinced that wero will have any use once the digital euro arrives.