The ECB is working to create a digital currency, complementary to paper money and coins, to prevent competition from digital currencies like Bitcoin, Tether and Facebook’s Diem.
The ECB strives to create a digital currency, complementary to paper money and coins. (Source: fxempire)
Use area people European’s common currency (Eurozone) expect the digital euro proposed by the European Central Bank (ECB) to be private, secure and cheap. This is the result of the survey published by ECB on April 14.
The ECB is currently working to create a digital currency, complementary to banknotes and coins, to prevent competition from digital currencies such as Bitcoin, Tether and Facebook’s Diem.
According to an ECB poll, individuals and professionals prioritize privacy at checkout – a key feature of cash that some fear will be lost when switching to a means of payment. electronic.
Specifically, according to respondents, the digital euro’s most important criteria are privacy (43%), security (18%), usability across the eurozone (11). %), no additional charges (9%) and offline use (8%).
The ECB survey also found that 50% of respondents support limiting the amount of digital euro that each citizen can own.
About 67% of respondents think that cryptocurrencies should be provided by private sector intermediaries and integrated in the current payment system.
25% of the participants wanted the digital euro to be provided as a smart card or a phone app for offline use.
Currently, the design of the digital euro is only in the early stages, so it will take at least another 4-5 years to apply this new means of payment. Many other central banks around the world are also working on similar projects./.
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