<p>Germany's finance minister and vice-chancellor, Olaf Scholz, is in favor of national digital currency.<br /> <br /> "Such a payment system would be good for financial center Europe and its integration into the world financial system," Scholz said late last week in a report<a href="https://www.wiwo.de/digitale-waehrung-finanzminister-scholz-fuer-digitalen-euro-ablehnung-der-kryptowaehrung-libra/25081182.html"> published</a> by local business news magazine WiWo (WirtschaftsWoche).<br /> <br /> "We should not leave the field to China, Russia, the US or any private providers," Scholz added, taking a dig at <a href="https://www.theblockcrypto.com/tag/libra">Libra</a>, the Facebook-led proposed stablecoin.<br /> <br /> Just last month, Germany <a href="https://www.theblockcrypto.com/linked/40066/germany-passes-a-strategy-to-block-parallel-currencies-including-facebooks-libra">passed</a> a blockchain strategy that prevents any parallel currencies to be issued in the country. At the time, Scholz said: “A core element of state sovereignty is the issuing of a currency, we will not leave this task to private companies.”<br /> <br /> The idea of a digital dollar has also been advocated by some lawmakers in the U.S. Last week, Representative French Hill (R-Arkansas) and Rep. Bill Foster (D-Illinois), <a href="https://www.theblockcrypto.com/linked/41896/two-congressmen-recommend-fed-to-develop-digital-us-dollar">asked</a> the Federal Reserve, the country’s central bank, to consider developing a “national digital currency.”<br /> <br /> China’s central bank, on the other hand, is “ready”<a href="https://www.theblockcrypto.com/linked/38748/chinas-digital-currency-will-be-like-facebooks-libra-says-central-bank-official"> to launch</a> a digital version of its currency yuan later this year or early next year.</p>