ECB calls for digital ID, authentication experts to develop rules for digital euro

Biometrics News ^ | May 9, 2023 | Chris Burt

[george76]

The European Central Bank is inviting experts in identification and authentication to contribute to the development of rules for the digital euro.

A ‘workstream’ is being set up to establish identification and authentication requirements for the digital currency, with the goal of enabling best-in-class user experience and security. Impact assessments for various existing approaches to identification and authentication will also be carried out.

The EU’s planned digital currency is expected to be stored in the EU Digital Identity Wallet, with support for peer-to-peer transactions.

The Chair of the Rulebook Development Group is setting up several dedicated workstreams to support the draft digital euro scheme rulebook, according to the announcement.

Market participants and Eurosystem (EU monetary authority) representatives will be chosen from among candidates nominated by stakeholder associations to provide expertise in strong customer authentication (SCA), digital identity initiatives, and implementing customer identity and access management (CIAM) solutions. Candidates proficient in English are sought.

Remote meetings will be held frequently over a two-month period starting this May. Participants are expected to take part in all meetings, and contribute to the project deliverables.

Candidates are asked to submit a CV detailing their experience in identification and authentication, with responses to four related questions, by May 22, 2023. Further details are available at the ECB website.

The digital euro is differentiated from cryptocurrency by issuance from the central bank, which has a mandate to ensure the currency’s value.

[Worldtraveler once upon a time]

--- "...issuance from the central bank, which has a mandate to ensure the currency's value."

Until it can no longer "ensure" the value.

As posted on another thread: I will rely on the stellar examples of the Weimar Republik through to Mugabe's delightful Zimbabwe for a model. Those billion dollar Z$ are now worth about five USD on EBay, proving that "you can't go bankrupt if you print your own money."

Get one today. https://www.ebay.com/b/Z-1-Billion-Zimbabwean-Paper-Money/162228/bn_73179010

Who knows? In time we might even find a "trillion dollar coin" in EBay, or some future version of the same.

[SaveFerris]

[The EU’s planned digital currency is expected to be stored in the EU Digital Identity Wallet]

The world is not there yet. But my guess is that all national Digital ID's will eventually be combined / under the umbrella of a World Digital Identity. And then.....some time after that:

A One World Digital Currency - what could possibly go wrong in the future?



And here are Global Citizens worshiping Barack Hussein Obama - who is appearing in a pre-recorded message (image) on the screen in front of them - notice all of the Global Citizens in the audience are making the same hand symbol

Eventually, Global Citizens will worship the image of the coming Antichrist (Revelation 13). The conditioning of the world's citizens has already begun; even if by accident.

Revelation 13:15
King James Version

15 And he had power to give life unto the image of the beast, that the image of the beast should both speak, and cause that as many as would not worship the image of the beast should be killed.

https://www.biblegateway.com/passage/?search=Revelation+13%3A15&version=KJV



Hosted at: Global.UnitedNations - well, imagine that.

[momincombatboots]

Lucky for us several red states ate legislators have pushed through the commercial code update that does the same here.

[SaveFerris]

[butlerweave]

Digital currency the Hack-able Money they don’t even have to leave home to take it all

[butlerweave]

Oh and when the internet goes out so does sales

[Migraine]

The camel is a horse designed by a committee.

Looks like all the Euroweenies are about to get humped (after they are each identified for future humping).

[Vaduz]

Rules For Digital Euro

ALL your euors belong to ours

[Worldtraveler once upon a time]

--- "...to establish identification and authentication requirements...."

Those without the wish to enroll in digital ID will be struck off the list. It will be interesting to see the players in this, because the "digital platform" will be under someone's / some companies' control, and "hacks" are certain, given the clever "alternative" and open source folks all around the world.

When a hack or even a "digital" error is made, "poof" goes your digital currency.

[Georgia Girl 2]

And just how do they think they are going to trade in this worthless digital currency with the BRICs nations who now trade in asset backed currencies? See how that doesn’t work? And neither will Fed Coin.

[Roman_War_Criminal]

What indeed could go wrong when these folks have no problem conjuring up demons?

[Wuli]

The true purpose of “digital currency” is to further increase the depth AND EASE at which the “authorities” can spy on you without warrant via your money trail. Instead of existing normal clearing processes for transactions everything would be instaneous and government would have access to the trails of everything, instaneously.

[SaveFerris]

Creepy!!

✝️🙏🛐

[American Infidel]

We can't even get a simple voter ID in the US without cries of "racism". It's going to be tough to thread the needle of a digital currency with no ID requirements to vote. It will be even tougher trying to accommodate the illegal aliens who primarily use cash.

Just prior to the plandemic, NY city council made it illegal for restaurants and take-out places to operate as cashless businesses because it was "discriminatory" to "communities of color". Other places around the country did the same thing. Should be interesting to see the mental gymnastics used to try to make this work.