Digital Euro

3D illustration of glowing optical fibres forming European Union euro currency symbol

According to a statement released by the ECB, the European Central Bank,

‘considers it timely to start an explorative assessment of the possible implications of issuing a central bank digital currency (CBDC) and of its possible features and prerogatives’.

The statement outlines the objectives of the ECB’s CBDC project, namely: (a) maintain the link between citizens and the central bank money; (b) ensure the value of the common currency remains stable; (c) ensure privacy when using the digital currency; (d) keep the digital currency safe; (e) make the digital currency easy and convenient to use; (f) make the digital currency widely accessible to the public.

The digital euro should be safe and resilient, easy and convenient to use, and widely accessible to the public. The ECB is collaborating with other central banks to understand the implications of issuing a digital currency.

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