Industry representatives have proposed a roadmap to a digital, programmable euro. The clock is ticking; other nations are way ahead. Why Europe must act and why INVAO supports the proposal.
Europe has been ...discussing the digital euro for more than one year now. Several industry associations have already called for it, and it has supporters in the European government. Still, not much has happened so far.
Read more: https://invao.org/roadmap-to-a-digital-programmable-euro-why-europe-must-act-now/Show more >

German lawmakers are discussing “Euro Tokens” to distribute financial aid to companies and households during the corona-crisis. Is this the birth of state-owned blockchain infrastructure?

It could be t...he beginning of a huge success story: The German government is currently discussing Euro-tokens to distribute state support during the corona-crisis. Via blockchain tokens, the government could support businesses and households directly and unbureaucratically in addition to the loans provided by the state-owned KfW bank.

The idea is quite simple. Instead of going through a bureaucratic and time-consuming procedure to apply for subsidies, companies identify on a blockchain and apply for government loans digitally. Should the company be entitled to state aid, euro tokens could be made available immediately, automatically, transparently and unbureaucratically. This would save costs and cut processing times significantly.

Business loans and consumer vouchers on the blockchain
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A Euro token-infrastructure would not only provide fast liquidity to companies but could also distribute consumer vouchers to citizens. What would otherwise be a bureaucratic nightmare, a blockchain could handle with relatively little effort.

Blockchain-based vouchers could also reach the underbanked – people who do not have a bank account, for example, because they do not have identification documents. They could obtain digital wallets from post offices to receive consumer vouchers even without a bank account. A similar idea was discussed in the US Congress last week, referred to as a “digital dollar” by the media.

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https://invao.org/euro-tokens-will-the-german-government-implement-blockchain-based-crisis-tokens/Show more >