Political and economic influences
"If Germany were to introduce a cyber currency, it would be a huge success," said Harvard economist Kenneth Rogoff in an interview on the future of cryptocurrencies [17] . For reasons of European treaty law, however, currency sovereignty would lie with the ECB and not with the Bundesbank. To the chagrin of euro critics, there will probably never be a crypto-mark independent of Europe. At least Germany is now set to get a Minister of State for Digital Affairs in the new government [18] , who will also have to deal with such issues.
If a state or a community of states were to introduce a second currency in the form of a cryptocurrency, the next question is accounting: for belgium telegram screening example, does every invoice have to be issued in both currencies? This would only work with a constant exchange rate. If only one currency has to be specified and you want to use the other, e.g. the digital currency, as a legally permitted means of payment, then exchange rates must again be taken into account. But the euro was created precisely to prevent variable exchange rates, which led to currency stability in the euro area and a revival of the economy. The introduction of a parallel currency was already discussed not so long ago: During the Greek crisis, there were considerations that Greece might reintroduce the drachma as a parallel currency to the euro in order to be able to devalue it if necessary [19] .
Venezuela was the first country to successfully introduce its own cryptocurrency, and Bitcoins have already been widely used there. However, the main reason for the enthusiasm for cryptocurrencies there is essentially to circumvent the sanctions imposed by the USA [20] . The Bank of England is considering introducing a crypto pound, which would be tied to the British pound sterling. Russia is also considering introducing a crypto ruble; here too, one of the aims is to make it easier to circumvent the sanctions imposed by the West [21] .