The European Central bank is working on an Ecash system for a CBDC that can only be run by banks. We're working on an Ecash system for Bitcoin that can be run by anyone.

We must code faster.


Onward 🫡


Who are these devs working for the ECB?? 😁 https://image.nostr.build/c14c8e01ab689d4de02c0d9ce9aed8c43c58b82051fed450d0fe805cdf553b34.jpg


From: nostr:npub15f0lnlxujj05a8cr7emhsz9cszcjalaq0su6rymvw22zuth0h9fs7cqrdx


Bzz ⚡


Great post 👍


You mean the ECB is working on hiring a project manager for a proposal for a tender for a meta study... take your time :-)


Can we call them ECBS please? Doesn't stand for anything but sounds better. E-Cee-Bees.


Unfortunately, they are more advanced than that. They use the same system as the BIS ecash thing. GNU taler is evolving slowly but steadily.

However, I agree with you, it'll probably take a few years just to launch a pilot etc. I'm picking up so many ecash factoids about their CBDC projects lately that I'm more convinced than before that we'll get a ECB ecash system eventually.


We will win


The Euro is broken beyond repair:
 https://image.nostr.build/ddbf5fe55326f76e21f98063478a50f6f76451d94178e5bdc1467624db49d11c.jpg


How do the banks settle between each other by the way? Do the banks hold the ECB's e-cash and give KYC database entries to their customers?

What if a pleb runs away with the banks e-cash notes?


I’ll prefer deez nuts. https://image.nostr.build/0d138a82f3725399d23214de4cb79830904b9823334be224b3721e5ef96eeca1.jpg


That's bad, really bad. But at least it's Ecash.

Brazil has a payment system that's fully controlled by the central bank. It's just a normal payment system with, no privacy at all...


I don't think they would give up on the possibility to control both the transaction counterparties. As far as I can make out, the current main project relies on a system to blind only senders but keep somehow a way to unblind the receiver, thus controlling the financial transaction anyway. The Bank of International Settlements has something going on about it, even Chaum itself contributed in 2021 if I remember correctly.

Anyway my point is that the ECB ecash will exist, but as of now they didn't understand the right threshold between surveillance and 'political difficulty to push the project'.

I guess that political agreement would slow down a bit their work...at least it's what could help us having more time.


💯Absolutely. We need to move forward quickly. For the first time, civilians have a self-sovereign weapon to fight the fiat system.🚀
nostr:note1mktw4gd3c2rk9wp6j2frn65wywa9aj85rhjzhyer7anrj3zyvemq7evjqy


that not the same thing ? not the same philosophy not the same agenda ?
https://void.cat/d/L2yuCpJ7fJtTCPMaKzPXtP.webp


Don’t trust, verify! ⚡


This is our struggle.


I hope you're putting in a bid to do this for them so you can make a ton of money but then have a government Ecash system compete directly against the likes of GSpot_420_69🚀 and see who wins.


From: nostr:npub1lqz2yf2tvutrxwtfnlxtdt9vdam7lwkyk95kehavvm4gfm5rx7ws0p3ak9


Onward 🫡


Thank you for this!!!


I ran into fedimint today. Can you give me a short summary of why cashu is better?


Please
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The European Central bank is working on an Ecash system for a CBDC that can only be run by banks. We're working on an Ecash system for Bitcoin that can be run by anyone.

We must code faster.


How would that be different from how banks work now? I don't understand what they're developing.