European Union Plans for Digital Currency.

European Union has plans to launch their own digital wallet which will be useable by 27 countries that comes under the European Union.

Although EU is still exploring the pros and cons of digital currency and they have not yet launched digital euro but if their decision thoughts are strong then it will be the biggest Central Bank Digital Currency.

It might be a great way to promote The Digital Euro project, DIGITAL BANK NOTES!!

Citizens can use this wallet for payment as well as for accessing services. They can store their own digital information and critical documents in the wallet like Passport or license.

According to the reports the wallet is set to be launched next year. This wallet will merge state services and individual services.

On security side it will be secured using biometric verification like fingerprints or retina scans. The data of users will be encrypted and will not be provided to any other 3rd party for any sort of advertisement.

Although EU are not the first one to initiate digital wallet as in China it's already been deployed but to regulate digital currencies in EUROPE, it's a good proposal.