Emmanuel Macron has said that #Europe should move towards developing euro-denominated stablecoins and launching a digital euro to strengthen the euro’s international standing. The comments come as monetary competition enters a new phase and governments seek to maintain their influence over the future financial architecture.

On the other hand, nostr:nprofile1qqsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncpz4mhxue69uhkummnw3ezumtpd35kutn0dekqz9rhwden5te0wfjkccte9ejxzmt4wvhxjmc7tn8dw has repeatedly warned in her analyses about the nature of CBDCs, describing them as projects with a “utopian” narrative; beautiful promises of efficiency, financial inclusion and stability that in practice could lead to the concentration of power, constant supervision and programmability of money. In her view, a money that is programmable will also be inherently subject to restriction, blocking and political direction.

The combination of these two perspectives paints a clear picture of the path ahead. Governments are trying to present a digital version of their national currency as an official answer to the decentralized #Bitcoin. But these efforts are inadvertently highlighting their opposite; #Bitcoin is an anti-inflationary currency, issuerless, permissionless, and beyond the reach of short-term policymaking.

The digital euro may strengthen the euro’s position in international equations, but it is also a reminder that the future of money is not just a question of speed and technology, but also of freedom, ownership, and the limits of power. In this vision, the main conflict is not between currencies, but between two different philosophies of governance.