From the 7th of April to the 9th, the European Central Bank spoke extensively about the Digital Euro, expressing hope about its potential and publishing an update of its rulebook. Its President, Christine Lagarde, also called for it, wishing to end European reliance on international payment solutions providers such as VISA, Mastercard, PayPal, Stripe and others.
I read the article.
Boiled down, it is essentially a direct exchange between physical (money in your bank account) currency and a fully digital counterpart, at a 1 to 1 ratio, that can be done both ways.
Unlike crypto, it is to be issued by a central bank and will have to be accessed through properly licensed bank entities or similar institutions.
This can work. I want to read the full rule book now.