ECB approves electronic currency 2 years test implementation - The digital euro moves to the next phase: the ECB will approve the start of 2 years of tests for the implementation of its electronic currency.

Starting this Wednesday, the digital euro will be closer to becoming an official electronic currency in the eurozone. Thus, the European Central Bank is expected to approve the launch of the final testing phase of its blockchain-based fiat cryptocurrency project, which will last for the next 2 years, as recently announced by its president, Christine Lagarde.

The approval of the new exploratory phase of the euro digital on the part of the ECB goes almost done, according to Bloomberg, expected to follow the model of China, which has already tested the use of the yuan digital among its population in several cities across the country, delivering a few to 25.7 euros currency digital 50,000 chinese citizens during the past Year Lunar New to experience with its use in physical stores and products in the marketplace JD.com.

ECB approves electronic currency 2 years test implementation

The plans of the ECB provided that if this testing phase follows the pattern of the former, on the banks of France, Italy and Spain have been tested for their operational, the euro digital could be a reality by 2025, following in the footsteps of Grenada, Antigua and Barbuda, and 4 other Eastern Caribbean countries that have launched their own electronic currency, the DCash, at the beginning of 2021, becoming the first region's monetary world, having a digital currency official.

Christine Lagarde has secured this past weekend in an interview on Bloomberg TV that the introduction of the euro digital will impact the lives of the citizens of the euro area "in a very intimate", and highlighting the social concern for the protection of your privacy and the priority of the ECB of your electronic currency does not serve to encourage money laundering or the financing of terrorism.

ECB approves electronic currency 2 years test implementation

Last month, Fabio Panetta, a member of the executive board of the ECB, has already predicted that the euro digital could be put into operation in 5 years, with the intention to protect the eurozone from the threat of the criptomonedas through a system of digital payments to protect the privacy of consumers through a public infrastructure that avoid the monetization of private data.

ECB approves electronic currency 2 years test implementation: In addition, the ECB has reiterated on several occasions that the implementation of the digital euro will not mean the end of cash, while it has been testing systems that ensure that this electronic currency allows anonymous payments through blockchain, which will mean the need to use a digital wallet that records operations and prevents the loss of funds or the falsification of payments, according to the Central Bank of Sweden.

Meanwhile, to prevent the introduction of the euro digital suppose a massive change in the monetary balance of the eurozone, Panetta has proposed limiting the amount of this electronic currency official that every citizen can have in their accounts to € 3,000 digital, to discourage its grabbing and facilitate the operations of the commercial bank, which will provide access to the euro digital, according to Bloomberg.

ECB approves electronic currency 2 years test implementation

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Volkswagen asks to participate in the PERTE of the electric vehicle to install its third battery factory in Spain

The PERTE (Strategic Project for the Recovery and Economic Transformation) of the electric and connected vehicle of the Spanish Government has just been launched, and the first large companies to participate in it have already appeared.

Pedro Sánchez, president of the Government, outlined on Monday the most outstanding details of the new plan to promote electromobility in Spain, which has been approved on Tuesday in the Council of Ministers.

This same day, Volkswagen has confirmed that it intends to install in Spain its third battery factory, for which it has requested to participate in the first PERTE of the new Executive, with which it would have the help of public funds derived from it.

"Spain could become a strategic pillar of our electricity strategy. We are ready to establish the entire value chain of electric mobility in the country, including the production of electric vehicles, as well as their components, and a new battery factory of the Group. Depending on the general context and the support from the public sector, from 2025 the Small BEV family could be manufactured in Spain," said Herbert Diess, CEO of the Volkswagen Group, at a virtual event.

In it, he has presented his project for 2030. Seat's Future: Fast Forward plan seeks to create an ecosystem of electric vehicles in Spain, stimulating demand and developing public charging infrastructures, with which the country would receive an additional 30 million euros and create up to 500,000 jobs, reports Cinco Días.

The Volkswagen battery factory in Spain would be the third of the group in Europe, after Sweden and Germany. At the moment it is unknown what its location would be, although Reyes Maroto, Minister of Industry, Trade and Tourism, already announced that it would be "close" to Martorell (Barcelona).

Sector sources say that the factory will be somewhere along the corridor from Martorell, where the Seat assembly factory is located, to Landaben (Navarra), where the Volkswagen plant is located, points out La Vanguardia.

"We support and will request to participate in the PERTE announced by the Spanish Government. Realizing the potential of Future: Fast Forward requires both public sector support and investment. Our goal is to cooperate with the Government to transform the country into a European hub for electric mobility and Seat's production plant in Martorell (Barcelona) into a 100% electric vehicle factory," said Wayne Griffiths, president of Seat.

This adds to the objective announced by the Government for its electric and connected vehicle, which will have a total investment of about 24,000 million euros (19,700 million private investment and 4,300 million public) in the period 2021-2023.

With this boost, it is expected to reach 250,000 registered electric vehicles, create 140,000 jobs and achieve a contribution of 1.7% to GDP, among other goals.

"Spain is, for the first time, at the forefront of the transformation of the automotive industry, "Reyes Maroto said on Tuesday, who called it a"historic milestone".