Dear esteemed members and distinguished attendees,
It is both a unique honor and a testament to the democratic vibrancy of the European Union that I am able to present this to you today. Our collective endeavor, rooted in the principles of open dialogue and civic engagement, emboldens us to explore new horizons of economic resilience and social equity.
As we navigate the complex tapestry of global economic dynamics, the aspiration for a Digital Euro emerges not merely as a modern monetary initiative, but as a symbol of our shared commitment to fostering financial inclusivity, economic stability, and sustainable growth. The essence of this initiative resonates with the broader vision of expanding the harmonious fabric of the EU into the realms of Eastern Europe and the Balkans, embracing the diverse potential and the rich cultural heritage that these regions bring to the European narrative.
The Digital Euro, envisioned as a seamless extension of our financial ethos, embodies a proactive step towards reducing bureaucratic inertia, enhancing transparency, and nurturing an environment conducive for sustainable investments. It is a venture into the domain of streamlined governance, where the automation of paperwork, efficient book-keeping, and real-time inventory management coalesce to create a fluid, user-centric financial ecosystem.
At the heart of this initiative lays the aspiration to bridge economic disparities, to provide a robust platform for the burgeoning entrepreneurial spirit, and to imbue the traditional market dynamics with a renewed sense of purpose and efficiency. The Digital Euro, with its inherent attributes of traceability and accountability, serves as a catalyst for incentivizing ethical business practices, fostering a culture of innovation, and aligning the fiscal dynamics with the broader socio-economic aspirations of our Union.
In this intricate dance of monetary policy and digital innovation, the Digital Euro is poised to become a cornerstone of a resilient, inclusive, and progressive European financial landscape. It encapsulates a vision that transcends the conventional, embraces the transformative, and resonates with the strategic foresight that has always characterized the European narrative.
In our shared journey towards a prosperous and harmonized European community, the Digital Euro presents a promising pathway, a narrative of progressive evolution that aligns with the global shift towards sustainable economic models. It is with a sense of profound optimism and a commitment to collaborative engagement that I present this narrative, a testament to the responsive, democratic ethos that is the hallmark of our esteemed Union.
Let us envisage together a future where the Digital Euro paves the way for enhanced economic resilience, social equity, and a renewed sense of community, embodying the essence of European unity in diversity.
Esteemed colleagues, as we traverse the pivotal threshold of the digital epoch, the reverberations of this transformation manifest vividly in the realms of our economy and monetary exchanges. The gradual retreat of cash from the daily tapestry of transactions, propelled further by the burgeoning sphere of online commerce, beckons us to envisage a financial architecture that embodies the security, resilience, and foresight inherent in our European ethos.
The emergence of the Digital Euro is not a mere response to this digital metamorphosis but a proactive stride towards ensuring that the essence of European monetary values transcends the physical and resonates in the digital realm. Envisioned as a public asset, a legacy of our Central Bank, the Digital Euro is poised to usher in a realm of financial engagement that is secure, accessible, and innately European. The resonance of this initiative among our consumer and merchant associations mirrors the collective aspiration for a digital currency that not only simplifies transactions but elevates the very experience of financial exchanges.
The allure of the Digital Euro lays in its universality, its ability to seamlessly integrate into the myriad retail payment scenarios while radiating its presence across the expanse of the Euro area. It is the quintessence of a digital asset that “ticks all the boxes,” a promise of simplicity interwoven with the robustness of a legal tender backed by the esteemed ECB. This initiative is not a clarion call to replace the cherished tradition of cash but an invitation to experience the finesse of digital transactions imbued with the trust and privacy synonymous with our monetary heritage.
In the Digital Euro, we envision a sanctuary of privacy, a haven where the transactions reflect nothing but the pure intent of economic exchange, unmarred by the scrutiny of personal data. Our Central Bank, in its revered wisdom, holds no desire to delve into the narrative of individual payment patterns nor entertain the notion of commercializing such sacred data. The Digital Euro is designed to tread the delicate balance between modernity and privacy, etching a blueprint of financial engagement that honors the trust bestowed upon it by the citizens of Europe.
Accessibility, dear friends, is the cornerstone of the Digital Euro. A digital currency that transcends the limitations of internet connectivity, financial literacy, or the possession of bank accounts, opening its arms to embrace every citizen in the warm fold of financial inclusivity. It’s a vision of a digital realm where the ease of transactions extends from the bustling online marketplaces to the quaint, heartfelt exchanges between individuals.
Furthermore, the Digital Euro is envisaged as a linchpin in the realization of a multi-speed, multi-track Europe. It’s a proposition that facilitates diverse economic trajectories, allowing for the coexistence of varying levels of integration and ambition within our union. It’s an invitation for nations, regardless of their pace of economic evolution, to partake in a shared digital monetary narrative, fostering a climate of cooperative diversity and resilient unity.
The essence of European integration, the melodious harmony of our monetary union, is embodied in the tangible reality of Euro banknotes and coins. Yet, as the winds of digitalization steer us towards novel horizons, the Digital Euro emerges as the harbinger of a new era of monetary unity. It beckons us to partake in a shared digital narrative, where a euro held with the grace of digital trust resonates with the same fervor, be it in the vibrant economy of Germany or the warm landscapes of Spain.
Let us, together, embark on this exhilarating voyage towards a digital financial paradigm, where the Digital Euro not only mirrors our shared currency but amplifies the essence of European unity, fostering a sense of collective resilience and shared prosperity in the face of an ever-evolving global economic landscape.
As we unfurl the canvas of our monetary future, the silhouette of the Digital Euro, christened as D€ or Ð€, emerges with a promise of revitalizing the economic landscapes whilst preserving the sanctity of our traditional Euro in the global theatre. The European Central Bank, revered as the guardian of our monetary heritage, is envisioned to be the architect of this digital endeavor, crafting each digital note with the same precision, trust, and integrity that has been the hallmark of our financial identity.
The inception of D€ could be used to orchestrate the dawn of an internal market, a bespoke realm where the digital currency flows with the grace of liquidity unencumbered by the fluctuations of international trade. Unlike the traditional threads of currency that entwine the fate of our economy with the global dance of trade and tariffs, the D€ aspires to serenade the internal market with a rhythm of economic exchange that is both sustainable and self-sustaining. This distinctive narrative of the D€ paves the way for a realm of financial engagement that is insulated yet not isolated, a narrative that resonates with the ethos of self-reliance and cooperative economics.
As we stand on the cusp of an era where the digits and data threads weave the fabric of our economy, the D€ emerges as a harbinger of an almost fully automated, digital economy. Envision, dear colleagues, a realm where transactions traverse the digital arteries in near real-time, where the heartbeats of our economy synchronize with the pulse of digital transactions. The grand tapestry of a fully automated energy market beckons, where the whisper of electrons carries the melody of economic value.
The distant horizon, though veiled in the mist of time, holds the promise of an economy that hums to the tune of clean, green energy. The D€ could be the vessel that ferries us across these uncharted waters, towards a shore where the essence of economic value resonates with the ethos of sustainability and the spirit of innovation.
The D€ is not merely a digital note, it’s a vision, a dream of a Europe that sails on the digital waves yet anchored firmly to the values of trust, inclusivity, and sustainability that have been the compass of our journey thus far. It’s an invitation to not just witness but partake in the crafting of a narrative where the economy, energy, and environment entwine in a harmonious dance towards a future that is as promising as it is exhilarating.
So, let us together, under the auspices of the European Central Bank, embrace the promise of D€, and set sail towards a horizon where the digital echo of Euro resonates across the realms of energy, economy, and equity, crafting a legacy that future generations would look back upon with pride and reverence.
Allow me to guide you through the garden of possibilities that unfolds with the inception of the Digital Euro – a garden where each pathway leads to a horizon of innovation, inclusivity, and sustainability. The Digital Euro, or D€ as we may affectionately call it, isn’t merely a digitized currency. It’s a visionary step towards embodying the ideals we hold dear in a tangible, operational form. It’s about crafting a monetary ecosystem that resonates with the values of social equity, environmental stewardship, and economic resilience, all while nurturing the budding seeds of digital transformation that promises a bloom of prosperity across the European landscape.
The varied facets of the D€ initiative reflect a rich tapestry of potential applications, each intricately interwoven with the others, yet each with its unique hue of impact. The following expanse of suggestions, tailored with a touch of creativity and a deep understanding of the evolving economic tableau, delineates the multifaceted roles D€ could play in sculpting a future that harmonizes the rhythm of economic progress with the melody of social and environmental conscientiousness.
As we traverse through this garden, let us delve into the clusters of initiatives that beckon with the promise of a harmonized, sustainable, and digitally empowered European economic landscape. The categories are thoughtfully curated to present a holistic narrative, embodying a spectrum of potential from nurturing business innovation, empowering individuals, fostering cross-border camaraderie, to kindling the green transition.
May this exploration stir the waters of imagination and dialogue, forging a shared vision for a future where the Digital Euro isn’t merely a currency, but a catalyst for a flourishing European community and beyond.
Data Privacy and Security Standards:
Enshrine stringent data privacy and security standards within the D€ ecosystem, reflecting a commitment to individual rights and societal trust, as well as not having their data sold for advertising.
Consumer and Individual-centric Initiatives:
Education and Training Vouchers: Distribute education and training vouchers denominated in D€ to individuals, empowering them to acquire new skills and knowledge.
Skill Development Reward Programs: Initiate D€ reward programs for individuals engaging in skill development and continuous learning, nurturing a skilled workforce adaptable to evolving market needs. Establish extensive digital literacy and skill development programs to equip businesses and individuals with the requisite knowledge and skills to thrive in a digital economy.
Affordable Credit Access: Facilitate access to affordable credit through D€ for small businesses and individuals, igniting entrepreneurial endeavors and financial inclusivity.
Business Support Frameworks:
- D€-Enabled Business Toolkits: Develop comprehensive D€-enabled business toolkits that offer seamless solutions for accounting, inventory management, and regulatory compliance, promoting ease of doing business.
- Automated Tax Compliance Systems for multiple different states: Introduce automated D€-based tax compliance systems that simplify tax filing and ensure accurate real-time tax remittance, fostering a culture of compliance and transparency.
- Supportive Framework for Cooperative Enterprises: Establish a supportive framework within the D€ ecosystem for cooperative enterprises, fostering economic democracy and shared prosperity.
- Social Entrepreneurship Support: Establish a D€-denominated support system for social entrepreneurs, fostering enterprises that meld profitability with social impact.
- Industry-Specific Transaction Incentives: Implement D€ incentives for transactions within priority industries that are aligned with sustainable development goals, fostering growth in sectors vital for economic diversification.
- Localized Currency Circulation Programs: Design programs encouraging the circulation of D€ within local economies to boost demand and supply dynamics, aiding in regional economic stabilization and growth.
- D€ Digital Receipts Initiative: Launch a D€ Digital Receipts Initiative to automate the issuance and storage of digital receipts, reducing paper waste and facilitating easy record-keeping.
- D€-Enabled Regulatory Reporting: Implement D€-enabled regulatory reporting systems that automate the submission of necessary business documentation to relevant authorities, simplifying regulatory compliance.
- Open Source Software Development Incentives: Provide incentives for the development and adoption of open-source software tools that support digital business operations within the D€ framework.
- Collaborative Research and Development Platforms: Create platforms for collaborative R&D, funded through D€, to drive innovation and a set of standardized open source software to support the digital transition
Digital Transition and Technology Adoption:
- Collaborative Research and Development Platforms: Create platforms for collaborative R&D, funded through D€, to drive innovation and a set of standardized open source software to support the digital transition.
- Technology Adoption Grants: Offer D€ grants to businesses and public entities for the adoption of technologies in the digital transition, such as training.
- Automated Tax Compliance and Benefits Systems: Utilize D€ to automate tax compliance and social benefit distribution, reducing administrative burdens and ensuring timely delivery of services.
- D€-Enabled Micro-Loans for Digital Transition: Offer D€-enabled micro-loans to small businesses to support their transition to digital operations, ensuring they are not left behind in the digital shift.
- Regional Digital Innovation Hubs: Establish Regional Digital Innovation Hubs that provide resources, training, and support for businesses embracing digital transformation, fostering a collaborative ecosystem of digital innovation.
- D€-Integrated Market Analysis Platforms emphasize the digital transition and technology adoption. They could be grouped under “Digital Transition and Technology Adoption” to accentuate the digital innovation aspect of D€.
Cross-Border and International Engagement:
- Cross-Border Trade Facilitation: Leverage D€ to streamline cross-border trade processes, reducing transaction costs and fostering a conducive environment for international commerce.
- Cross-Border Entrepreneurial Grants: Launch a D€-denominated grant program to support entrepreneurs in non-Eurozone countries, fostering innovation and economic cooperation across borders.
- International Trade Incentives: Offer D€ incentives for businesses in non-Eurozone nations that engage in trade with Eurozone countries, stimulating economic interconnectivity.
- Customs and Tariff Relaxation for D€ Transactions: Negotiate customs and tariff relaxations for cross-border transactions carried out in D€, fostering a conducive environment for trade and commerce.
- Cross-Border Microfinance Initiatives: Launch D€-enabled microfinance initiatives to support grassroots entrepreneurs and communities in non-Eurozone countries, fostering economic empowerment.
- Cross-Border Digital Business Registries: Develop cross-border digital business registries to facilitate easy registration and operation of businesses across borders within the D€ ecosystem.
- D€-Enabled Remittance Channels: Establish secure and low-cost D€-enabled remittance channels, supporting individuals and families in accessing cross-border financial resources.
- Green Economy Transition:
- Utilize D€ as a conduit for promoting green technologies and sustainable practices, possibly through incentivized transactions or green bonds. Establish a digital platform within the D€ ecosystem to facilitate the trade of carbon credits, supporting Europe’s transition towards a low-carbon economy.
- Discount Rates: Businesses engaging in sustainable practices could be offered favorable discount rates when they borrow in D€. This could be an indirect way of fostering green practices without delving into the domain of taxation. Certification and Recognition: Establishing a certification system where businesses adhering to certain sustainability standards are recognized and perhaps enjoy certain benefits within the D€ ecosystem, like lower transaction fees or priority processing.
- Sustainable Practice Rewards: Creating a reward mechanism where businesses accruing points or credits for sustainable practices can redeem them in some form within the D€ ecosystem. This could be akin to a loyalty program for sustainability.
- Consumer Engagement: Developing platforms within the D€ ecosystem where consumers can engage with and reward businesses practicing sustainability. This could foster a community of conscious consumers propelling businesses towards greener practices.
- Sustainable Supply Chain Incentives: Incentivize businesses to adopt sustainable supply chain practices by offering D€ rewards or recognition, fostering a culture of responsibility and sustainability with lower rates when going from local currency -> D€ -> different local currency.
- Sustainable Procurement Incentives: Offer D€ incentives for sustainable procurement practices among businesses and public entities, fostering a green economy.
Economic Transition Support:
- Create support mechanisms within the D€ framework to assist regions and sectors in transitioning towards more sustainable and future-oriented economic models.
Public Goods and Community Initiatives:
- Public Goods and Services Provision: Allocate D€ resources for the provision and maintenance of public goods and services, from parks to public transportation, promoting eco-friendly commuting and reducing traffic congestion, enhancing the quality of life for all, while also alleviating budgetary pressure from the local government.
- Tourism Promotion Schemes: Launch schemes within the D€ framework to promote tourism, supporting local economies and cultural exchanges as well as stabilizing transaction rates.
- Regional Sustainable Development Challenges: Organize D€-funded challenges targeting sustainable development goals, nurturing a culture of solution-oriented regional collaboration.
- D€-Enabled Regional Marketplaces: Establish online and offline regional marketplaces facilitated by D€ transactions, fostering economic activity and cultural exchange.
As we stand on the cusp of a digital epoch, the inception of the Digital Euro, or D€, is not merely a stride towards modernization, but a leap towards realizing a vision of an inclusive, sustainable, and synergistic European economic sphere. The D€ is a testament to the fortitude and the visionary ethos that has been the hallmark of the European legacy. It’s a proclamation of our shared aspirations for a future that is not just economically robust, but socially equitable and environmentally responsible.
With every tick of the digital clock, the D€ holds the potential to weave a narrative of empowerment, innovation, and transnational camaraderie. It’s an emblem of a Europe that is not just united in currency, but in purpose, in values, and in the unyielding pursuit of a prosperity that transcends borders and resonates across the global tapestry.
The D€ is not an end, but a means—an enabler that can unlock the doors to myriad possibilities, catalyzing a cascade of initiatives that can redefine the contours of economic interaction, social empowerment, and environmental stewardship. It’s an invitation to each citizen, each enterprise, and each nation, to partake in a collaborative odyssey towards forging a legacy of sustainable prosperity.
As we embark on this collective endeavor, let the dialogue and the exploration of the D€ landscape continue with a spirit of curiosity, collaboration, and conviction. Let the discourse we’ve engaged in today be the spark that kindles the flame of a pioneering European digital economy, illuminating the path for others to follow.
In the heart of the D€, lays the pulse of a reinvigorated Europe—a Europe that is ready to lead, to innovate, and to inspire. The narrative of the D€ is a narrative of hope, of opportunity, and of a shared destiny. It’s a narrative that beckons to each one of us to contribute, to engage, and to envision. As we resonate with the ethos of the D€, let’s together script a new chapter in the annals of European integration—a chapter imbued with the essence of digital empowerment, economic resilience, and sustainable development.
In this endeavor, may we remain guided by the spirit of unity, the quest for knowledge, and the unwavering resolve to foster a better tomorrow for every citizen of this magnificent continent and beyond. The Digital Euro is but a seed, and together, we have the power to nurture it into a robust tree of shared prosperity, under whose shade future generations can thrive and flourish.
On an entirely different note.
I would like to address why this sermon is not a response to https://www.youtube.com/watch?v=433tAfO4dbA “The “One-World Assumption” and why physicists want to discard it” which I felt was somewhat of a response to the comment “Do you think this means faster than light travel is possible?”.
I was working on the above document with the AI, and it’s not that I like Christine Legard more than you, I just felt that the above rough outline for a digital euro would be more impactful with real world consequences.
I will tell you that what I was hinting at from the previous video “He looked for gravitational waves, but discovered something entirely different” was that, since you astutely pointed out, Gravity is not a constant as was assumed, when I correlated some parts of gravitational waves with “time quakes” I was suggesting that time also does not flow at a constant rate. If both “time” and “gravity” (spacetime) are localized phenomena, while quantum mechanics is not, then it’s possible that things that are not light (signals in the electromagnetic field) could travel faster than light, and the “sound barrier” for light, may be more intrinsically linked to the electromagnetic field instead of spacetime itself. So if you found a way to exclude only electro-magnetism, or encase it in something else, then it may be able to move faster than light.
This is a consequence of thinking of black holes not like “space is falling into it faster than the speed of light” but as time slowing down itself, and the event horizon of the back hole being black not because of the rate at which space falls into it, but because something else is going on, which prevents the electromagnetic field from penetrating it. It deem seem odd to me that light was considered to be not slowing down, but spacetime was “falling inwards” faster, not impossible, but if time itself was slowing down, then the rate at which the space is “falling inwards” would be slowing down as well, in my model, until it stops completely somewhere below the event horizon, rather than being a very rapid flow. The blackhole grows larger, because the area of space with “frozen time” grows, as it continues to accumulate information at the boundary.
Back to “The “One-World Assumption” I just wanted to point out that, in hidden variable theories, how would they account for the “hidden wave” which continues through everything un-disturbed, also sometimes follow the shapes of objects, in the double slit experiment, how does it become effected by the slits, but not by the walls ? It would not reflect and interact with itself if it passed right through. I think it’s safer to say that quantum mechanics is non-local, and wormholes formation might be a bit more like a lightning strike, if you watch them in slow-motion, you can see that in some cases it flows up from the ground, and meets in the middle in the sky. So that is to say, it forms from both ends, instead of punching a tunnel through one end only. That may resolve some of the “requires infinite energy” calculations.
More to the point of all of this, and this is pure conjecture on my part, but part of the “measurement problem” may be that the collapse occurs when an electromagnetic detector is held up to a field, the interaction sort of “pulls” the excitation, which causes it to be tangled up in more fields, which causes the particle to sort of condense into, well, a particle. When the detector is removed, then the excitation is no longer condensing into a particle and remains an energy gradient in the field. To measure a bit of the field, it’s like taking a cup and separating that cupful of substance from the field, (dipping a cup in the ocean) and then pretending that the ocean isn’t there and the cup full of water is the only thing that exists. Because if you hold the cup in the ocean, there is no difference between what is inside and outside of the cup, until you pull it out of the ocean, then the air around it, makes it seem separate from the ocean, and when you shake the cup, the contents it will have different motions, than the rest of the ocean, only when outside of the ocean, if you wave the cup around in the ocean without pulling it out, the water in the cup would move in a different way, than if you had pulled it out of the ocean.
Also it was interesting that, after spending 10 minutes explaining about how many worlds does not reflect observations we have of reality, and maybe more importantly, that people claiming to be”string theorists” typically just try to claim everything is string theory, because it could be represented with string theory math, hypothetically, and without ever checking.
Then say “many worlds is neither wrong nor unscientific but exactly as problematic as standard quantum mechanics”
That feels like confusing many worlds with string theory. I think many worlds is a subset of string theory.
More importantly “we can neither confirm them, nor rule them out” is exactly the definition of something that is unscientific which is another way of saying “not empirically measurable” While this could have been an esoteric video, I felt like it was more of an attempt to get someone to complain about string theory, while talking about the many failures of many worlds.