> Sometimes humble regulation is enough. Take SEPA as an example: I can transfer money free of charge to any European bank account, in a few seconds.

SEPA was a success but it was only a first step to modernise the banking system. The following regulations/directives like PSD2 failed in my opinion.

The ECB also had one of those CBDC built much earlier than people have been told. They already had something quite advanced around 2020, with a optimist launch date in 2022 I believe.

It obviously failed miserably and I read a few weeks ago that they are "exploring Ethereum and Solana for digital euro launch".

I would be curious what happened exactly but my guess is the banks just said "NO WAY".

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Saline9515 5 days ago | parent | next [-]

SEPA allows this in theory; in practice, for amounts >10k€, most banks will require you to provide proofs for the transaction due to the maximalist AML laws in the EU.

My bank requires me to download a PDF on their website, print it, fill it out by hand, scan it, and then send it by mail. After a few days, someone will decide to allow it (or not). If it is refused, I don't get any reason why and have to call the client service for clues.

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ta12653421 5 days ago | parent [-]

working in the field: Would you please share name or BIC of this institute?

	▲	Saline9515 5 days ago \| parent [-]
		Unfortunately, given my post history it would be easy to identify me, all I can say is that it was a French bank.

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Kbelicius 5 days ago | parent | prev [-]

> The ECB also had one of those CBDC built much earlier than people have been told. They already had something quite advanced around 2020, with a optimist launch date in 2022 I believe.

> It obviously failed miserably

They had a CBDC but hid it from everyone... but then somehow it failed miserably. If it wasn't released, how? They even had it before they decided to have it (2021). This seems just like a load of bullshit.

	▲	sunshine-o 5 days ago \| parent [-]
		When they saw Bitcoin and Ethereum they obviously understood a great disruption was coming and acted on it. SWIFT too. A Central Bank do not share everything they consider/plan with the public. It is not really hidden or secret, but they also do not make a press release about it. Also if they are fundamentally gonna transform our banking system they better start early because a lot of things can go wrong. I estimate the time to build such a system is about 10 years if everything goes well. I do not know exactly what went wrong, my guess is the banks pushed back as much as they could because most of them would have been made irrelevant under that model. Now they are talking about Ethereum and Solana because they understood they have to fight against the Dollar in this arena.