The ECB president Christine Lagarde’s statement about “control” concerning a digital euro has caused concern among the crypto community. However, people should note that this statement was taken from a prank video by The Alexis Show. Tricking ECB Chief into thinking she is talking to Ukraine’s President Zelensky.
Digital EU system
Lagarde’s alleged admission about the digital EU system used as a control mechanism created in the context of a three-week-old prank video that has been widely shared.
Source: European Parliment
How much control does CBDC have?
CBDCs stands for Central Bank Digital Currency, are digital forms of a country’s official currency issued and regulated by its central bank.
They are designed to be used as a digital counterpart to physical cash and are typically created using blockchain or distributed ledger technology. The extent of control that CBDC may have would depend on the specific design and policies implemented by the central bank. It remains a topic of debate and speculation.
The video, shared by the news account Watcher Guru on April 6, has gained attention and sparked discussions on social media.
In the video, Lagarde preferred not to rely on currency from an “unfriendly country” or a private entity like Facebook or Google. She stated that it is convincing that there is a need to move forward with the digital euro.
Ukrainian President Volodymyr Zelensky
In a report by Cointelegraph, the source was a prank video from March 17. Where Lagarde appears to be speaking more openly, mistakenly believing she was talking with Ukrainian President Volodymyr Zelensky.
People’s reaction to this news was not…that positive, as seen in this tweet.
Significant influence on global economics and finance
This tweet makes sense as I do think that private central banks have a significant influence on global economics and finance. The attempt to grant exclusive money rights to private bankers to secure war funding may have been a historic mistake. I also believe private central banks hold disproportionate power and control over the world’s financial systems.
However, Some users interpreted the ECB President’s admission as a push towards using decentralized currencies like Bitcoin