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Blockchain Blog: Ushare, DTSocialize, DTCoin – Daniele Marinelli

Blockchain Blog: Ushare, DTSocialize, DTCoin - Daniele Marinelli

Daniele Marinelli‘s blog, owner of the Ushare brand and CEO of DT Socialize Holding, provides an insightful overview of a highly relevant topic: the Euro Token.

A brief introduction to Euro Token

Many are calling for it, but for now, there is no sign of the digital euro. However, in Italy, a project is emerging that aims to be an alternative to the Central Bank Digital Currency (CBDC) of the European Central Bank. We are talking about Euro Token, which can be managed by any bank, Italian or foreign, that has joined the project launched by Conio, the Italian wallet specializing in digital assets. The Euro Token project was selected during the Fintech Milan Hub (the innovation center of the Bank of Italy), at the “Call for Proposals 2022,” and is based on an open blockchain system where both banks and their customers can participate, issuing digital Euro Tokens (stablecoins) representing the official currency that has been deposited.

Words from the founder of conio on Euro Token

According to Christian Miccoli, the founder of Conio, the goal of the Euro Token project is to create a European token issued by banks that is interchangeable and interoperable. “A bank, just like issuing a prepaid card, can issue its electronic money tokens, which will have the value of one euro. And the more banks join the project, the faster the system grows,” explains Miccoli.

Currently, the project is still in its very early stages, although “three Italian credit institutions have already shown interest and could increase soon,” clarifies the founder of Conio. From the perspective of banking institutions, the digital euro project of the ECB is not great news, as it could cause a sharp reduction in bank deposits. With Euro Tokens, however, banks will remain firmly anchored in the financial system. But that’s not all, as Euro Tokens could also bring benefits for consumers and merchants.

Benefits for consumers

Regarding consumers, the system implemented by Euro Tokens will be much more cost-effective and significantly reduce payment times. Furthermore, Miccoli clarifies, “the Euro Token will be a programmable currency, so anyone can create a smart contract that will work with the digital asset. Thus, over time, numerous applications have emerged that have made the iPhone a multifunctional tool. Smart contracts working with Euro Tokens will be exactly like applications for the iPhone.”

Benefits for merchants

Not only for consumers, but there will also be benefits for merchants with Euro Tokens, emphasized Daniele Marinelli of Ushare social profit marketing. This is because it will bring a reduction in costs, as well as the timing and processes of transaction settlements and payments. Thanks to the use of Smart contracts, i.e., the apps that will emerge, merchants can implement targeted digital customer loyalty strategies.

di: adminPubblicato il:

Blockchain Blog: Ushare, DTSocialize, DTCoin – Daniele Marinelli

Daniele Marinelli‘s blog, owner of the Ushare brand and CEO of DT Socialize Holding, provides an insightful overview of a highly relevant topic: the Euro Token.

A brief introduction to Euro Token

Many are calling for it, but for now, there is no sign of the digital euro. However, in Italy, a project is emerging that aims to be an alternative to the Central Bank Digital Currency (CBDC) of the European Central Bank. We are talking about Euro Token, which can be managed by any bank, Italian or foreign, that has joined the project launched by Conio, the Italian wallet specializing in digital assets. The Euro Token project was selected during the Fintech Milan Hub (the innovation center of the Bank of Italy), at the “Call for Proposals 2022,” and is based on an open blockchain system where both banks and their customers can participate, issuing digital Euro Tokens (stablecoins) representing the official currency that has been deposited.

Words from the founder of conio on Euro Token

According to Christian Miccoli, the founder of Conio, the goal of the Euro Token project is to create a European token issued by banks that is interchangeable and interoperable. “A bank, just like issuing a prepaid card, can issue its electronic money tokens, which will have the value of one euro. And the more banks join the project, the faster the system grows,” explains Miccoli.

Currently, the project is still in its very early stages, although “three Italian credit institutions have already shown interest and could increase soon,” clarifies the founder of Conio. From the perspective of banking institutions, the digital euro project of the ECB is not great news, as it could cause a sharp reduction in bank deposits. With Euro Tokens, however, banks will remain firmly anchored in the financial system. But that’s not all, as Euro Tokens could also bring benefits for consumers and merchants.

Benefits for consumers

Regarding consumers, the system implemented by Euro Tokens will be much more cost-effective and significantly reduce payment times. Furthermore, Miccoli clarifies, “the Euro Token will be a programmable currency, so anyone can create a smart contract that will work with the digital asset. Thus, over time, numerous applications have emerged that have made the iPhone a multifunctional tool. Smart contracts working with Euro Tokens will be exactly like applications for the iPhone.”

Benefits for merchants

Not only for consumers, but there will also be benefits for merchants with Euro Tokens, emphasized Daniele Marinelli of Ushare social profit marketing. This is because it will bring a reduction in costs, as well as the timing and processes of transaction settlements and payments. Thanks to the use of Smart contracts, i.e., the apps that will emerge, merchants can implement targeted digital customer loyalty strategies.

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