Digital EURO: The Impact of Digital Currency on Startups

Digital EURO: The Impact of Digital Currency on Startups

Athanasios Davalas1 , Yannis Charalabidis2

1 Phd Candidate, the Department of Information and Communication Systems Engineering,
University of the Aegean
2 Professor at the Department of Information and Communication Systems Engineering, University of
the Aegean

Digital EURO: The Impact of Digital Currency on Startups

Abstract

Digital Euro, and other Digital Currencies, are based on blockchain technology and blockchain blended with new disruptive technologies of IoT. Besides, AI introduces a new thinking
method into the startups\’ business models. Thus, this paper presents this thinking method.

Besides, the paper illustrates how a \’Programmable Digital Euro\’ integrated into existing processes of retail banks can provide new prospects for startup businesses. The underlying
discussion is based on a critical review of the prevailing body of evidence.

The report illustrates that the startups will be affected by the introduction of Digital Euro. The effect might be positive or negative, or even both. Nevertheless, the nature of the effect will largely be
determined by the laws set in place to govern startups. Perhaps the most influential laws will provide a platform for startups external to the EU to assert their authority.

The onset of the Digital Euro will spur investment while allowing the startups, especially those that focus on technology, to excel in the European market. Other than the government support and
facilitation, the tech-based startups will use IoT, AI, and blockchain strategies to develop novel and innovative investment ideas.

The underlying model will systematically blend all these technologies to yield the anticipated benefits in the EU market. The model will comprise key partners, activities, resources, customer relationships, channels selection, customer segment,and cost structure.

All these aspects, if integrated effectively, will foster optimal success for the startups such that they assert their authority even in the face of well-established industry
players.

Digital EURO: The Impact of Digital Currency on Startups

1. Introduction

New technology is an important source for startups to generate ideas for their own business.The already technological revolution led by IoT, AI is about to be combined with disruptive
technologies such as blockchain.

The synergy of these technologies will dramatically reshape the current economic environment and will create new business opportunities for startup businesses. Indeed, the speed of innovation has led to increased preference for digital payment by citizens, and thus Central Banks like the European Central Bank (ECB) plan to enter the digital currency world, for example Digital Euro in the euro area.

Although digital currencies will not replace other forms of payment but will complement them, it is important for the startup stakeholders to understand these new concepts and use them to
build new business models.

In other words, Digital Euro or any other Digital Currency is associated to blockchain technology and blockchain combined with new disruptive technologies of IoT, and AI introduce a new thinking method into the business models of the startups. In this paper we present this thinking method and how a ‘Programmable Digital Euro’ integrated into existing processes of retail banks can provide new prospects for startup businesses.

Keywords: Digital Euro, Startups, Digital Currencies, Blockchain

[pdf-embedder url=\”https://www.labheron.gr/wp-content/uploads/2022/04/27-2050.pdf\”]

Source:https://www.dpublication.com/wp-content/uploads/2021/12/27-2050.pdf

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