Recently Mr. Thiele, representative of Deutsche Bundesbank (Buba), said during the interview, that the cryptocurrency analogous to EU cash is currently not in sight.
Bundesbank is the Germany's central bank. It's one of the main banking institutions of the European Union and even European Central Bank is patterned after Buba in its internal structure. So, their pull in EU banking system is significant, to say the least. And now, this interview puts on hold any rumors about any EU-backed cryptocurrency available to general public.
Mr. Thiele has been Buba board member for seven years and specializes in payment systems and currency. Also he was a Bundestag representative for two years. And now he acts as a spokesperson for the German central bank.
Previously he stated that while he doesn't directly discourage public from investing into cryptocurrencies, but he has to show people the risks involved. In his opinion, the inefficiency, the price and the power requirements of transactions in the Bitcoin blockchain make it unsuitable as a payment mechanism. Besides, in the same interview, he said that Bitcoin can't be used for value storage because of its value fluctuations.
Still, while the general public wouldn't be able to boast having official EU crypto, Mr. Thiele mentioned, that inter-bank payment settlement will be possible in the future through government-sanctioned blockchain.