The Inspiration Behind This Article

As someone who loves science fiction and dystopian stories, I often think about the worst-case scenarios for new technologies like the digital euro. My engineering background makes me appreciate these stories as warnings about what we should try to avoid in the future. For me, freedom is very important. By freedom, I don’t mean chaos, but the ability for people to do what they want without causing trouble for others.

In this article, I’ll be sharing a made-up scenario about the digital euro. It’s not something I believe will definitely happen, but it’s something that could happen. This is a way to think about the potential downsides of the digital euro and highlight why it’s important to keep our personal freedoms safe as our world becomes more digital.

Scenario

2027

Digital euro was launched, positioned as an addition to traditional cash.

”No need to worry, it’s not here to replace cash, and your privacy is protected,” they said.

As people began to use it, its convenience became apparent.

”Paying in cash, especially with those annoying .99 prices, is cumbersome! The digital euro simplifies everything. I can even shop online, and by linking my bank and digital euro accounts, budgeting is a breeze,” remarked a user.

During this time, Europe saw more integration. National distinctions and powers within Europe diminished, making way for a unified European identity.

As Europe got more united, more rules started to limit people’s freedoms. They often said it was to help the environment, which led to more control over what people could do.

As these changes took hold, public acceptance grew, seemingly indifferent to the gradual loss of liberties.

It’s like the old saying goes, “If you want to boil a frog, you heat the water slowly.”.

2032

Cash? That’s a thing of the past!

Nearly everyone uses the digital euro for everyday purchases now. It’s just so convenient and fast!

Since most people have switched to using the digital euro, the European Central Bank (ECB) has been cutting down on cash little by little since 2027. They’ve announced that by the end of this year, cash will be gone for good.

The ECB keeps assuring us that digital payments are private.

There haven’t been any problems with the ECB tracking who makes which transactions since 2027, so most people aren’t worried about giving up cash.

Remember, “If you want to boil a frog, do it by warming the water slowly.”

2034

It’s been a year since the ECB eliminated cash.

Now, everyone has to use either the digital euro or services from commercial banks, which are all under ECB control. Using alternative payment methods, like gold or barter, is illegal. Engaging in transactions not visible to European authorities could land you in jail.

This means every single payment and financial settlement goes through the ECB.

Europe has the power to monitor everyone’s actions, ensuring adherence to regulations, and it can block transactions or impose penalties as it sees fit.

”Attempting to buy a plane ticket? You flew just two years ago. Our policy allows for only one flight every four years. Your transaction is blocked, and here’s your penalty: you can’t book another flight for four more years.”

There’s no turning back now.

TL;DR

The real aim isn’t to control us with the digital euro’s launch but to get us hooked on it. Then, the control starts when there’s no turning back.

• Launching the Digital Euro
  • It’s pitched as a harmless addition to cash, not a replacement.
  • Promised to be secure and as private as cash.
• Phasing Out Cash as Digital Euro Gains Popularity
  • People start saying, “Digital euro is so much easier than cash for everyday use!”
  • People really like using digital euro
  • ECB then decides to eliminate cash entirely.
• Traceable Transactions
  • Choices are now digital euro or bank services, all monitored by the ECB.
  • The ECB begins to watch over transactions.
  • It imposes restrictions and can block transactions as it sees fit.
  • Freedom to use money is curtailed; we must adhere to Europe’s policies.
  • Freedom, as we know it, is gone.

What to keep in mind

You might be wondering, “Is this guy serious?“.

As mentioned at the beginning, this scenario isn’t guaranteed to happen; it’s essentially a look at the worst-case scenario. Considering the gradual shift of power from individual nations to a more unified Europe, coupled with the growing restrictions on freedom and an increase in regulations over the years, it’s not entirely far-fetched.

Instead of ignoring this as just imagination, I think it’s useful to keep this worrying scenario in mind. It makes us stay aware and watch out for any signs that it might be happening.

But let’s hope it never comes to that.