Will ECB's plans for a digital euro strengthen Europe?

The Eurosystem’s digital euro is designed to serve as a mainstream, risk-free “electronic form of cash” for an increasingly digital world. It remains unclear as to whether it will be based on blockchain technology, but offline usability is essential. The digital euro may bolster the euro’s global standing, offering investors a potential alternative to the US dollar. Contrastingly, US President Trump has banned federal agencies from working on a central bank digital currency. A framework for a US dollar-backed stablecoin has been unveiled, which the ECB hopes will speed up the introduction of...