GNU Taler begins operating in Switzerland, distributed by the Taler Operations AG. Gnu Taler aims to be a “digital wallet” and has been used by the swiss national bank as well as the european national bank as a example for how a digital currency handed out by the state could work. It aims to be as privacy preserving as cash for the buyer while not allowing the seller to evade taxes.
Currently the Taler is brought out by a special organisation, the “Taler Operations AG”, and not the national bank, although both the national bank as well as the Taler Team have shown interest in a official digial currency by the national bank based on the Taler. But we need to relativate as the national council has stated that the introduction of a digital currency would probably take relatively major legislative changes and therefore take a bit of time.
The ECB also wants to introduce a digital Euro. I wonder how exchanging my digital Euros to digital Swiss Francs and vise versa would work. Currently with physical cash you need to exchange your money at an intermediary. But with digital coins it’s surely possible for the national bank to handle this.
If you ever paid with your card in a non-Euro country, you already did something like that.
Revolut will on the fly convert between your currencies on the fly.
Cyberpunk is now, old man.
That is still a corporate intermediary who does the conversion young man. And they are converting your digital money that is stored at the corporate private bank.
Digital currency is going to be the equivalent of cash. Digital money that is stored on your phone and is minted by the national bank like cash. Not the same as your money at the bank.
It is very easy lol but it’s likely Mastercard/Visa doing the conversion (taking ~ 0.5% each time), exactly what we want to avoid :P