Europe, the new world

Although the world is one, according to the moments when civilizations were interconnecting the different continents, the concept of “Viejo Mundo” was installed in relation to the 15th century Europe, in front of the “New World”, reserved for all those latitudes visited by Europeans in their journeys in search of new riches, for example America, Oceania or Antarctica.Evolutionary processes in science and technology driven from new latitudes over the last hundred years could make Europe believe that Europe is behind the United States in finance and economics.However, the events of the last few months seem to demonstrate the opposite.Recently, the European Commission approved the proposal for the digital euro regulation, although it is now under investigation, it is expected that this year, together with the European Central Bank, will present a document to the European Parliament for its use to be implemented before the year 2026, that is, in just three years.Like any monetary expression, whether physical or banking, the digital euro is a new form of money issued by the European Central Bank.For now, It is expected that coexist with the other forms offered, that is, aspires to coexist without replacing.How all digital currency your transactions will be processed through virtual wallets, in principle without positions and throughout the euro area.None of this would be possible without the accompaniment of society through its uses and customs. Citizens' payment habits are changing at unprecedented speed: in the last three years, cash payments in the euro area have decreased from 72 % to 59 %, and digital payments are increasingly accepted. In the Netherlands and Finland, for example, the number is only used in a fifth part of the operations.The digital euro would be a public good. Therefore, their basic services would be free and it is the case of cash.The digital euro and ultimately any digitized sovereign currency will change the world of finance as we know it.In principle, the money attested in a sovereign virtual portfolio would be kept by the same issuer, i.e. banks would no longer be depositaries of transactional balances. This means great savings in insurance and guarantees for funds in sight, as allocating money in a third party when you can leave it to the “manufacturer” would lack meaning. However, the banking system takes advantage of “unfitted” or immobilized balances to place and gain interests with it. This could generate some kind of resistance in the least adaptable to changes.It would seem that Europe could become the New Continent on finance and monetary issues.So far, the detractors of the digital currencies issued by the central banks are the main objection that the traceability that this form of money offers could limit the freedom of people in their consumption habits and expenses. In fact, payments with cards, bank transfers and non- sovereign virtual wallets, have all sorts of information about our customs and transactions, or talk about online shopping.It is likely that sovereign digital currencies have more reserves in the traceability and confidentiality of movements than we have today with existing alternatives.

Argentina for when?

• Draw transactional payments ecosystems for assistance and development without it implying “to flood in the money market”,

• Promote financial inclusion as money scanning allows you to design models tailored to each account holder profile. ,

• Reduce the marginal economy that will allow lower taxes and fees by expanding the collection base,

• Reduce criminal activity in general, such as thefts, thefts, tax evasion or money laundering,

• Promote financial innovation as the traditional banking and financial system can offer new alternatives based on digital formats to its customers, such as as asset tokenization.