Thought of this more recently. The amount of control tech has over credit or debit cards is dangerous. Not to mention a power outage leaves you with nothing. Or if someday companies decide you can’t use their credit card certain ways.
Its kind of unfeasible today, but maybe we should be using cash for every possible thing…
Digital euro projects claims that it will solve that issue. If they will go with current design it will be more private, better and more convinient than cash. It will work offline p2p and without global transaction tracking. And it will not be dependent on a single company.
more private than cash, that is not possible. also I don’t see how could it work fully offline
Normal cash can be tracked. Each buck has a serial number. While with digital euro it does not have to be that way. While we do not have implementation yet, it most certanly is possible to develop something that is less tracable that cash. One example qould be monero crypto currency that is more private and more anonymous than cash. While I do not think privacy will go this deep, I think Implementation of privacy would be comparable to cash transactions.
About it being offline: If you have a transaction I signed with my private key for example over NFC you do not need it to be online at all. You can always prove I paid you.
https://en.wikipedia.org/wiki/Digital_euro
did they fix the small ring size already? it was a big topic last year. if they haven’t, then no its not more private than cash, because it has a public record of the transaction where the real sender is hiding between a dozen or two decoy senders. with cash there is nothing like that.
exchange of non-electronic physical items will always be more private than trusting a blackbox machine (any computer) running whatever payment standard accepted in the local economic area. with a good standard that could be acceptable, but the point stands.
double spend prevention requires one party to be online.