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1.8. The Digital Euro and the European Central Bank

Cover zur Folge 1.8.

When the digital euro is introduced, it will be provided by the European Central Bank (ECB) and the central banks of the Eurosystem. However, the exact design of this digital currency is still the subject of intense discussion and is expected to take several years. However, the ECB has been investigating such a central bank digital currency (CBDC), since at least 2020. An initial preparatory phase was launched last fall and certain decisions, even if not final, have been made.

In this context, some critics accuse the ECB of being too accommodating to the interests of commercial banks. At the same time, it is precisely these commercial banks that are warning the loudest and claiming that a digital euro would intervene too much in the payments market and would  jeopardize their business model. This episode of Digitalgelddickicht therefore takes a look at the mandate and tasks of the ECB and explains why and how it is already working on the digital euro. In an interview with Jürgen Schaaf, an Advisor to the Senior Management of Market Infrastructure and Payments at the European Central Bank, we want to find out how the ECB is working with EU legislation, the financial industry and civil society on the digital euro project, to what extent it is taking their criticism into account and what it is doing to counter it.

Digitalgelddickicht Season Digital Euro – Folge 8 (German only) | 29. April 2024

Guests

Jürgen Schaaf has been Advisor to the Senior Management of Market Infrastructure and Payments at the European Central Bank since November 2019. Before that, he was Counsellor to the Executive Board of the ECB and Secretary of the Single Supervisory Mechanism (SSM) Project Team. Before he joined the ECB, he was Personal Adviser to the Governor of Banque Centrale du Luxembourg. In previous occupations he worked at Börsen-Zeitung and as Senior Economist at Deutsche Bank. He studied economics in Marburg and Canterbury and holds a Ph.D. in Economics from Philipps-Universität Marburg.

Cornelia Manger-Nestler is Professor of German and International Business Law at HWTK Leipzig, specializing in monetary law. She previously studied and worked at TU Dresden and TU Chemnitz, where she also completed her doctorate on the role of the Deutsche Bundesbank in the European System of Central Banks. Furthermore, she is currently supervising a research project on legal issues with regards to the digital euro.

Markus Ferber is an engineer, has been a member of the CSU Schwaben‘s Executive Board since 1990 and its Chairman from 2005 to 2023. He has been a member of the European Parliament since 1994. He is a member of the EPP Group, the European People’s Party, and has also been a member of the Committee on Economic and Monetary Affairs since 2009. Between 2014 and 2018, he served as its Vice-Chairman and since then as the EPP Group’s spokesperson on the committee. He has also been Chairman of the CSU-affiliated Hanns Seidel Foundation since 2020.

Henrike Hahn is a political scientist and has worked as a management consultant and research assistant in the Bavarian state parliament and the Bundestag. She has been an active member of Bündnis 90/Die Grünen Bayern since 2012, including as spokesperson for its working group on economics and finance and a member of the board. In 2019, she became a member of the European Parliament. There she is a full member of the Committee on Industry, Research and Energy and a substitute member of the Committee on Economic and Monetary Affairs. She is the lead negotiator and shadow rapporteur on the digital euro for her group, the Greens/EFA.

Joachim Schuster holds a doctorate in political science and worked in research, science management and political consulting until 2006. He was a member of the Bremen Parliament for the SPD since 1999 and was Bremen’s State Councillor for Labor, Youth and Social Affairs and later Health and Science from 2006 to 2012. He became a Member of the European Parliament in 2014. He is a member of the S&D Group and has been a member of the Committee on Economic and Monetary Affairs since 2019. On the Executive Committee of the German Social Democrats, he is responsible for cooperation with the SPD parliamentary group in the Bundestag.

Further Information

Panetta, Fabio: Letter to several MEPs on the request to postpone the decision on the digital euro, 6 October 2023.

Fanta, Alexander / Bollen, Thomas: European banks are scared oft the digital euro. Here’s how their secret lobyying could torpedo it, Follow the Money, 29 February 2024.

Video Recording of the Public Hearing regarding the Digital Euro by the Committee on Economic and Monetary Affairs (ECON) in the EU Parliament with Piero Cipollone, Member oft he ECB’s Executive Board, 14 February 2024 (Afternoon Meeting).

Recommendation for comprehensive information regarding the Digital Euro provided by the ECB: FAQ on a digital Euro, ECB Website (29 April 2024).

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Finance, State, Digitization & Democracy

Poster Citizen Lecture 2024

Interdisciplinary Citizen Lecture
Every Monday, 18:00 CET, starting from 22 April 2024

Technische Universität Darmstadt, Old Main Building, Hochschulstr. 1, Lecture Hall 223

An Event of Faculty 01 (Law and Economics) in Cooperation with the Discourse Project Democratic Issues of the Digitalized Financial Sector at the Centre Responsible Digitality (ZEVEDI)

The relationship between the financial sector on the one hand and states, especially democracies, on the other is (re)constructed in different ways. Ideas about the the capital markets’ efficiency free them from demands for a “fair” distribution of financial resources. The “taming of the financial markets”, on the other hand, is a demand that was advocated by the movement critical of globalization in the 1990s. What both views have in common, however, is the implicit assumption that the market and the state are fundamentally separate. However, the dichotomy of market and state fails to recognize the entanglement of states and the financial world.

The genesis of modern statehood has led to a significant increase in the financial requirements of the public sector, which is only partially covered by taxes and fees. The state is therefore increasingly asking for loans or issuing bonds on the capital markets. It has also successively established central banks that act as lenders of last resort. It is therefore not only a demander, but also a major player on the capital markets. And it also shapes their framework conditions.

The expansion of the financial sector is linked both to the industrial revolution and the implementation of capitalist production methods as well as to increasing state activity. However, in order to reduce information asymmetries, protect the weak, strengthen the European single market or avoid further financial crises, the state often sets limits or imposes rules on financial intermediaries. Even more fundamentally, it can be stated that there is not a single financial product without a legal basis. No share, no bond, no loan and no derivative is born without legal norms. The question is therefore not one of market or state, but of the connections and ambivalences of the market-state relationship.

In a democracy – especially one in which digital technologies shape everyday life – the question of the role of the financial sector becomes even more pressing, as it is considered to be in need of regulation on the one hand and difficult to regulate on the other. In addition, the increased demand for capital can also lead to a certain dependence of the state on capital markets and thus make it more difficult to enforce democratic demands. The recent debate has also (re)raised the relationship between capital markets and distribution issues. In particular, this raises the question of how the conflicting goals of maximizing prosperity on the one hand and equitable distribution of economic goods on the other can be resolved. The third force in this area of conflict is the digital transformation, which is not just a “technical” issue. Under digital conditions, both capital markets and democracies are now fundamentally confronted with new requirements for communication, value creation and also the “traditional” understanding of currencies and payment systems.

The lecture series explores the ambivalent relationship between (digital) capital markets and (digital) democracy as well as the effects that evolving capital markets have on distribution issues. It reconstructs the history of capital markets and states as controversial as they were in earlier times and as they are today, on the one hand from the perspective of science, on the other hand it is also about a representation of facts and debates that is accessible to citizens. The lecture provides ways how to describe the issues at hand, raises the question of the objectives and means by which (digital) capital markets are (or should be) regulated and deals with the issues of prosperity and distributive justice in a digital world.

Programme

22.04.

Christoph Becker (Professor für Finanzmathematik und Stochastik, Darmstädter Institut für Statistik und Operations Research (DISO), h_da)

Das Finanzsystem und die Selbstbestimmung des Menschen

29.4.

Andreas Nastansky (Professor für Quantitative Methoden und Mathematik, HWR Berlin)

Risikoverbund zwischen Banken und Staaten im Euroraum

06.05.

Carola Westermeier (Akademische Rätin am Institut für Soziologie, Universität Gießen / aktuell ZEVEDI Young Investigator)

Digitales Geld als öffentliches Gut? Der digitale Euro als Finanz- und Sicherheitsinfrastruktur

13.05.

Jenny Preunkert (Professorin für Makrosoziologie, Universität Kassel)

Die Europäische Union, ihre Mitgliedsstaaten und die Gläubiger: Machtfigurationen auf den europäischen Kapitalmärkten

27.05.

Joseph Vogl (em. Professor für Literatur- und Kulturwissenschaft/Medien, HU Berlin)

Privatisierung des Geldes

03.06.

Andreas Dombret (Vorstand der Deutschen Bundesbank, a.D., Honararprofessor, EBS, Wiesbaden)

Die 3 I’s – Invasion, Inflation & Interest Rates

10.06.

Lars P. Feld (Professor für Wirtschaftspolitik, Universität Freiburg, Persönlicher Berater des Bundesfinanzministers)

Ist die Schuldenbremse an allem schuld? Für und Wider ihrer Reform

Link for the live stream

17.06.

Jiajia Liu (PostDoc Researcher, International History and Politics, Universität Genf)

Financial Institutions in Shanghai (1840s-1910s)

24.06.

Marc Buggeln (Professor für regionale Zeitgeschichte und PublicHistory & Direktor der Forschungsstelle für regionale Zeitgeschichte und Public History, Universität Flensburg)

Keine Demokratie ohne Steuern? Wandel der Gouvernementalität und soziale Gleichheit vom 18. Jahrhundert bis heute

01.07.

Andreas Fisahn (Professor für öffentliches Recht, Umwelt-und Technikrecht, Rechtstherie, Universität Bielefeld)

Demokratische Selbstbestimmung und Finanzmärkte

08.07.

Thorsten Pötzsch (Exekutivdirekor Geschäftsbereich Wertpapieraufsicht, Bundesanstalt für
Finanzdienstleistungsaufsicht (BaFin))

Kapitalmarkt heute und morgen

15.07.

Jan Pieter Krahnen (em. Professor für Kreditwirtschaft und Finanzierung & Gründungsdirektor des Leibniz-Instituts für Finanzmarktforschung SAFE, Frankfurt)

Die unvollendete Bankenunion: Europa im Spannungsfeld von Marktintegration und nationaler Souveränität

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1.7. The Digital Euro – In the Engine Room of the European Union

Cover der Folge 1.7.

This episode of Digitalgelddickicht asks – also with the upcoming European elections in mind: How and when exactly will final decisions on the digital Euro be made in Brussels? What steps are still to be taken? Who has which opportunities to influence the outcome or act strategically? And what are the pitfalls of the EU process? What are the current positions in European Parliament and what is the significance of the European elections? What role do committees and the so-called rapporteurs and shadow rapporteurs play? We will address these questions in our conversations with EU parliamentarians.

It is, after all, the EU institutions which will decide whether such a central bank digital currency (CBDC) will be introduced at all. And if so, Brussels will define the framework within which a digital euro must be developed. That will take time still. We are in the early stages of the legislative process and the home stretch is not in sight for a long time. But that also means that a lot can still happen. Any meaningful discussion on the digital euro is currently still based on the European Commission’s Draft Proposal from June 2023. But the next step is for the European Parliament and the European Council to find a position each which is able to secure a majority’s support. This episode therefore takes a closer look at the most accessible of the EU’s engine rooms: the European Parliament and its committees

Season 1 Digital Euro -Episode 7 | 5 April 2024 (German only)

Guests

Damian Boeselager studied economics and philosophy, worked as a management consultant and co-founded Volt as a pan-European party together with two like-minded co-founders from Italy and France in 2017. As the lead candidate of Volt‘s German chapter, he was elected to the European Parliament in 2019 as the only Volt MEP at the time. He is a member of the Greens/EFA group and a member of the Committee on Constitutional Affairs.

Patrick Breyer is a lawyer, founding member and active politician of the Piratenpartei Germany since 2012. From 2012 to 2017, he was a member of the state parliament in Schleswig-Holstein and from 2012 to 2013 and from 2016 to 2017 he was also the leader of its Pirate Party parliamentary group. As the German Pirates’ lead candidate for the 2019 European elections, he has since been the only German member of his party in the European Parliament. He is a member of the Group of the Greens/EFA and a member of the Committee on Civil Liberties, Justice and Home Affairs.

Markus Ferber is an engineer, has been a member of the CSU Schwaben‘s Executive Board since 1990 and its Chairman from 2005 to 2023. He has been a member of the European Parliament since 1994. He is a member of the EPP Group, the European People’s Party, and has also been a member of the Committee on Economic and Monetary Affairs since 2009. Between 2014 and 2018, he served as its Vice-Chairman and since then as the EPP Group’s spokesperson on the committee. He has also been Chairman of the CSU-affiliated Hanns Seidel Foundation since 2020.

Henrike Hahn is a political scientist and has worked as a management consultant and research assistant in the Bavarian state parliament and the Bundestag. She has been an active member of Bündnis 90/Die Grünen Bayern since 2012, including as spokesperson for its working group on economics and finance and a member of the board. In 2019, she became a member of the European Parliament. There she is a full member of the Committee on Industry, Research and Energy and a substitute member of the Committee on Economic and Monetary Affairs. She is the lead negotiator and shadow rapporteur on the digital euro for her group, the Greens/EFA.

Joachim Schuster holds a doctorate in political science and worked in research, science management and political consulting until 2006. He was a member of the Bremen Parliament for the SPD since 1999 and was Bremen’s State Councillor for Labor, Youth and Social Affairs and later Health and Science from 2006 to 2012. He became a Member of the European Parliament in 2014. He is a member of the S&D Group and has been a member of the Committee on Economic and Monetary Affairs since 2019. On the Executive Committee of the German Social Democrats, he is responsible for cooperation with the SPD parliamentary group in the Bundestag.

Further Information

European Commission: Proposal for a Regulation of the European Parliament and European Council on the Establishment of a Digital Euro», 28 June 2023.

European Parliament Committee on Economy and Monetary Affairs (ECON): Draft Report on the EU Commission’s Proposal on the Establishment of a Digital Euro, 9 February 2024.

Recording of the European Parliament Committee on Economy and Monetary Affairs (ECON)’s morning Session, 14 February 2024.

European Parliament Committee on Civil Liberties, Justice and Home Affairs (LIBE): Opinion regarding the EU Commission’s Proposal on the Establishment of a Digital Euro , 20 February 2024.

European Parliament Committee on Economy and Monetary Affairs (ECON): Amendments 120-367 regarding the EU Commission’s Proposal on the Establishment of a Digital Euro, 21 February 2024.

European Parliament Committee on Economy and Monetary Affairs (ECON): Amendments 368 – 725 regarding the EU Commission’s Proposal on the Establishment of a Digital Euro, 21 February 2024.

ZEVEDI-Podcast Digitalgespräch, Episode 48 with Dominik Wendt: The EU’s AI Act: How it came about and how it regulates AI, 5 March 2024.

For the European election programs of the different parties and their positions on the digital euro, please consult the pages of the parties in question.

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Marie Bröckling

Mercator-Journalist in Residence, April 2024

Marie Bröckling» is a freelance data journalist from Berlin.

She regularly reports on security policy, technology and China for German and international media. She also works as a producer for NBC News. Just recently, she lived in Hong Kong for two years, where she researched pro-China influencers. She was recently recognized by Medium Magazin as one of the “Top 30 under 30” journalists in Germany.

Project

At ZEVEDI, Marie Bröckling is researching the question of how the judiciary deals with the growing amount of confiscated cryptocurrency. Cryptocurrencies are subject to strong price fluctuations, so the timing of their sale is crucial. In addition, information about the illegal past of the seized cryptocurrencies is stored in the blockchain. It is therefore not easy to reintroduce them into the legal financial cycle. So far, there are no uniform rules on how seized cryptocurrencies should be resold.

Further information on the programme and application procedure can be found on the German language website».

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The EU’s AI Act: How it came about and how it regulates AI

With the AI Act, the EU has launched the first comprehensive regulatory framework for “Artificial Intelligence” systems. An ambitious, challenging and urgent endeavour: Rapid technological development is taking place globally, and mostly outside of Europe. AI is already being used in all areas of life, with undeniable economic benefits, but also obvious risks for liberal democracy and its values. Which technologies are considered “Artificial Intelligence”, though, is not clearly defined. Rather, this fuzzy buzzword covers all kinds of IT and robotic systems with capabilities that go beyond those of conventional automation. A legal framework, such as the one that is about to be introduced in Europe, must be wisely drafted and flexible in order to do justice to this complex situation. Has the European AI regulation achieved this?

Domenik Wendt is Professor of Civil Law, European Business Law and European Law at the Frankfurt University of Applied Sciences and an expert on AI law. He has closely followed the development of the AI Act from the very outset, adopting both an academic and a practice-orientated perspective. In this episode of Digitalgespräch, he describes the process the regulation has gone through: From the context of the EU commission’s first initiative and its underlying idea and objective, to the heated discussions between the stakeholders involved with their various interests and basic political stances, to the content of the final draft that is now set to be adopted. Together with hosts Marlene Görger and Petra Gehring, Wendt discusses how the AI Act is perceived and evaluated internationally, whether critics are right to point out weaknesses, and how companies, lawyers and scientists have to take action in order to bring this abstract legal framework into reality.

Episode 48 of Digitalgespräch, feat. Domenik Wendt of Frankfurt University of Applied Sciences, 5 March 2024
Further informationen:

Link to the press release of the Federal Ministry of Justice dated 2 February 2024: https://www.bmj.de/SharedDocs/Pressemitteilungen/DE/2024/0202_KI-VO.html?cms_mtm_campaign=linksFromNewsletter

Website of Research Lab for Law and applied Technologies: https://www.frankfurt-university.de/en/about-us/faculty-3-business-and-law/research-and-transfer/research-labs/rellate/

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The podcast is in German. At the moment there is no English version or transcript available.

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1.6. The Digital Euro and the Difficult Task of a European Payment Infrastructure

When making digital payments, have you ever given a thought to the underlying infrastructure – the back end of these payments? The details of these complex private “traffic routes” are rarely known to those who do not deal with them in their professional lives. Now, however, it looks like the digital euro is breaking completely new ground. Now, at the latest, it is worth taking a closer look.

As long as the payment systems operate reliably and are not a significant cost factor, they are of secondary importance to citizens and their everyday use of money. It is often only when people have to make transfers to non-European countries that they realize that payments are a business – and that the low-cost accessibility of the infrastructures on which they are processed is not simply a given. In this episode, the Digitalgelddickicht therefore takes a closer look at what lies underneath digital payments.

The infrastructure required for the digital euro is to be built from scratch: What kind of work does this mean for the ECB? How should commercial banks, which will have to process these payments, prepare for this? If the digital euro enters an already competitive business area, what challenges and opportunities does this present for banks and citizens? And will the progress made by the European Payments Initiative in offering a private European payment solution be a game changer?

Season 1 Digital Euro -Episode 6 | 12 February 2024

Guests

Manuel Klein is Product Manager Blockchain Solutions & Digital Currencies at Corporate Bank of Deutsche Bank. In this position, he also analyses the potential impact of central bank digital currencies on the banking sector.

Prof. Dr. Barbara Brandl is Professor of Sociology with a focus on Organization and Economy» at the Goethe-Universität Frankfurt. She is member of the ZEVEDI Project Group Tokenized Finance».

Dr. Andreas Bley is chief economist of the National Association of German Cooperative Banks (BVR).

Marek Jessen is a researcher in the ZEVEDI project Money as Data» and research fellow at the Weizenbaum Institute, Berlin.

Further Information

Maurer, Bill: How Would You Like to Pay? How Technology Is Changing the Future of Money, Duke University Press: Durham und London, 2015.

Bechtel, Alexander and Klein, Manuel: Der digitale Euro ist mehr als nur Geld, Frankfurter Allgemeine Zeitung, 25 October 2023.

European Central Bank: A stocktake on the digital euro.Summary report on the investigation phase and outlook on the next phase, 18 October 2023.

European Central Bank: Call for Application: Digital Euro – Risk and Fraud Management, 3 January 2024.

Panetta, Fabio: Letter to several MEPs on the request to postpone the decision on digital euro, 6 October 2023.

Panetta, Fabio: Letter to Irene Tinagli, ECON Chair, on ECB Governing Council decision to proceed to preparation phase of the digital euro project, 18 October 2023.

Bitcoin, Fiat & Rock’n Roll, Episode 254 / Manuel Klein : Blockchain-Token, UTXOs und Accounts – was ist das eigentlich?, 11 September 2023.

European Commission: Proposal for a Regulation of the European Parliament and European Council on the Establishment of a Digital Euro», 28 June 2023.

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1.5. Digital Euro – Commercial Banks in Danger?

After clarifying the relationship between the digital euro and competing or related means of payment, the focus of this episode shifts to those financial institutions whose business model the digital euro could complement, change or call into question: the commercial banks.

With a view of the possible introduction of the digital euro, representatives of commercial banks warn against an ill-considered change to the existing economic and financial order. Voices criticizing the status quo, on the other hand, see digital central bank money as a possible antidote to the vulnerability of our financial system to crises – less as a remedy for banks and more as a guarantee of greater security for citizens.

In this first of two episodes on the relationship between the digital euro and commercial banks, we examine the extent to which a digital euro could transform or disrupt the well-established division of labor between central and commercial banks. Are digital bank runs really to be feared or are they much ado about nothing?

To find out, we spoke to representatives of the National Association of German Cooperative Banks (BVR) and Deutsche Bank. We also evaluated a range of different statements and a hearing of experts on the topic in Brussels at the end of November.

Seasn Digital Euro – Episode 5| 22 December 2023

Guests

Dr. Andreas Bley is chief economist of the National Association of German Cooperative Banks (BVR).

Jens Holeczek is Head of the Digital Payment Unit National Association of German Cooperative Banks (BVR).

Manuel Klein ist Product Manager Blockchain Solutions & Digital Currencies at Corporate Bank of Deutsche Bank. In this position, he also analyses the potential impact of central bank digital currencies on the banking sector.

Prof. Dr. Sebastian Omlor is Professor for Private Law, Commercial and Business Law, Banking Law, and Comparative Law» at the Philipps-Universität Marburg und Founding Director of the Marburg Institute on the Law of Digitization (IRDi)». An important research focus of his are legal issues of the digitized financial sector. He leads the ZEVEDI project group Tokenization and Finance».

Weiterführende Informationen und Quellen

National Federation of German Cooperative Banks (BVR)»

LinkedIn Profile of the BVR»

• Position of the German Banking Industry Committee on the Legislative Proposal of the EU Commission for the Introduction of a Digital Euro, 28 June 2023: German banking industry calls for political guard rails for a digital euro».

• National Federation of German Cooperative Banks (in German): Die Digitalisierung des Euro: Chancen nutzen, Risiken begrenzen. Zielbild für ein europäisches Geldsystem der Zukunft», BVR-Position 2/2023.

Deutsche Bundesbank: Payment behavior in Germany 2021», 2022.

Osman, Yasemin ( in German only), Digitaler Euro – Eine Gefahr für kleine Banken?», Handelsblatt, 8 March 2023.

European Commission: Proposal for a Regulation of the European Parliament and European Council on the Establishment of a Digital Euro», 28 June 2023.

Veblen Institute for Economic Reform und Positive Money Europe: A Digital Euro for the People», Position Paper, June 2022, pp.11-12.

German Banking Industry Committee (German only): Erste Stellungnahme zum Legislativvorschlag der EU-Kommission zum digitalen Euro vom 28.06.2023», August 2023.

Event Site of Public Hearing on the Digital Euro in the European Parliament’s Committee on Economicand Monetary Affairs, 28 November 2023: https://www.europarl.europa.eu/committees/en/public-hearing-on-digital-euro/product-details/20231121CHE12405

Intrductory Statements of all four experts invited for the hearing:

Ignazio Angeloni» (SAFE, Frankfurt am Main, und EHI, Florenz)

Miguel Fernández Ordóñez»

Marieke van Berkel», European Association of Co-Operative Banks (EACB)

Vicky van Eyck», , Positive Money Europe

Also see the Youtube video of the Statement» Vicky van Eyck gave during the public hearing on behalf of Positive Money Europe.

Video of the Panel Discussion Digital Euro – Pro und Con» (German only), 18 July 2022 as final event ofthe Citizen Lecture Series “Do you understand Cryto?” at the TechnischeUniversität Darmstadt with Marcus Härtel, Market Infrastructure Expert of the European Central Bank.

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1.4. The Digital Euro – How the Stablecoin of a Social Media Platform challenges State Currencies

Cover zur Folge 1.4

When Facebook (now Meta) initiated a global stablecoin project called Libra in 2019, governments, federal banks and regulators around the world were alarmed. The plan for a global digital money issued by the world’s biggest social network met resistance by regulators on both sides of the Atlantic. After all, it could potentially have been used by billions worldwide. The project was ultimately abandoned.

While it is not used as a common argument for or against a digital euro any more, the Libra project sent shock waves around the world and caused the ECB to accelerate research into and planning for the digital Euro. In this episode, eFin & Democracy therefore takes a look at how and why it affected the European and other CBDC endeavours: What is a stablecoin? How would the Libra stablecoin have worked? What hopes and fears were associated with Libra – and with private-sector stablecoins in general? And what tasks have arisen from this with regard to the regulation of crypto assets on the one hand and digital central bank money on the other?

Season Digital Euro – Episode 4 (in German) / 7 Dezember 2023

Guests

Dr. Jonas Gross is an economist». Having earned his PhD at the University of Bayreuth with a thesis on the monetary economy and digital currencies, he is co-founder and chairman of the Digital Euro Association, and Chief Operating Officer at etonec, a business offering blockchain-based payment solutions.

Prof. Dr. Sebastian Omlor is Professor for Private Law, Commercial and Business Law, Banking Law, and Comparative Law» at the Philipps-Universität Marburg und Founding Director of the Marburg Institute on the Law of Digitization (IRDi)». An important research focus of his are legal issues of the digitized financial sector. He leads the ZEVEDI project group Tokenization and Finance».

Moritz Hütten is a financial sociologist», reserach coordinator at the Darmstadt Business School and a graduate student at the University of Amsterdam.

Claus George is Head of Digitalization and Innovation TxB at DZ BANK AG, focussing on new means of payment and forms of money.

Prof.Dr. Barbara Brandl is Professor for Sociology with a focus on Organization and Economy» at the Goethe-Universität Frankfurt. She is member of the ZEVEDI Project Group Tokenized Finance».

Cornelia Manger-Nestler is Professor for German and International Business Law» at the HTWK Leipzig.

Further information

European Central Bank, Crypto Asset Task Force:  Stablecoins: Implications for monetarypolicy, financial stability, market infrastructure and payments, and banking supervision in the euro area, Occasional Paper Series, No. 247, September 2020. Find the pdf here».

John Oliver: Cryptocurrencies II ( Episode of 24 April 2023): https://www.youtube.com/watch?v=o7zazuy_UfI

Hannah Murphy and Kiran Stacey: Facebook Libra: the inside story of how the company’s cryptocurrency dream died, Facebook Libra: the inside story of how the company’s cryptocurrency dream died», Financial Times, 10 March 2022.

Claus George:  Digital Payments – Yesterday, Today, Tomorrow, Lecture (in German), 25 Aril 2022, within the Public Lecture Series „Do you understand Crypto?“ at  TU Darmstadt in 2022.

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“Wert / Value/Valeur” – The Clash between Morality and Price

Lecture Series / Citizen Lecture
Continuously, starting 18 October 2023, 6:00 pm

Technische Universität Darmstadt
Lecture Hall S 313/30, Darmstadt Castle

Event within the framework of the ZEVEDI Project “Democracy Issues of the Digitalised Finance Sector” in Cooperation with the Institute of Philosophy at the TU Darmstadt (German only).

The lecture series illuminates the genesis and intricacies of the concept of value. Particularly from a philosophical, but also from a sociological, legal, economic and historical point of view the different lecturers will look at current debates about values, price and tokens, how these are affected by the digital transformation and how values have shifted with regard to ecology.

Programme

Date Lecturer Title
18.10.23 Petra Gehring (Philosophy, TU Darmstadt / ZEVEDI) Werte zur Einführung
25.10.23 Sophie Loidolt (Philosophy, TU Darmstadt) (Zur) Wertethik bei Husserl und Scheler
01.11.23

Marcus Düwell (Philosophy, TU Darmstadt)

Braucht die Moral Werte? Zur ambivalenten Rolle des Wertbegriffs in der Ethik
08.11.23 Andreas Kaminski (Philosophy, TU Darmstadt) Vertrauenswert und Vertrauenswürde
15.11.23 Oliver Schlaudt (Philosophy, Universität Heidelberg) Müll. Die dunkle Seite des Werts
22.11.23 Anne Krüger (Sociology, Weizenbaum Institute Berlin) Werten und Bewerten – eine soziologische Perspektive
29.11.23 Andreas Kerkemeyer ( Public Law, TU Darmstadt) Preis & Wert – Rekonstruktion einer Paarbeziehung
06.12.23 Bernward Gesang (Philosophy, University of Mannheim) Welchen Beitrag leistet der Utilitarismus zur Klimadebatte?
13.12.23 Jens Kertscher (Philosophy, TU Darmstadt) Dichte (Wert)begriffe und praktisches Selbstverständnis
10.01.24 Martin Diehl (Deutsche Bundesbank) Der Preis der Werte und der Wert des Preises
17.01.24 Jan Müller (Philosophy, University of Basel) Werten, schätzen – oder: Werte wahrnehmen?
24.01.24 Christian Benne (History of Ideas, University of Copenhagen) Geld und Gebärde. Mit Nietzsche über Werte nachdenken
31.01.24 Marc Rölli (Philosophy, HGB Leipzig) Über den Mehrwert der Spekulation. Überlegungen im Feld philosophisch-ökonomischer Mehrdeutigkeiten
07.02.24 Aaron Sahr (Economic Sociology, Hamburg Institute for Social Research) Geld und Wert – zwischen ökonomischer Macht und politischer Herrschaft

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Responsible algorithmic decision-making in the workplace

Interdisciplinary Lecture Series

Continuously, beginning on Monday, 30 October 2023

Online via Zoom (Zoom links see programme)

Algorithmic decision-making (or “ADM”) already has a significant impact on how our modern workplace is organised, whether it be through the selection of new hires, managing employees in their daily business, or assisting human decision-makers in the context of complex problems.

Against this background, the project group Responsible Algorithmic Decision Making in the Workplace is organising a series of lectures that will look at these developments from an interdisciplinary and international perspective. Among other things, the following questions will be addressed: How should work contexts shaped by ADM be designed to promote responsible treatment of workers? What technical, organisational and regulatory framework conditions should be established in such contexts?

programme

go to project group Responsible Algorithmic Decision Making in the Workplace»

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