ECB outlines plans for resilient digital euro
Digital euro is planned to enhance Europe’s payment system resilience while ensuring access for all citizens, including those with disabilities or limited digital literacy.
The European Central Bank (ECB) has emphasised that its proposed digital euro will enhance Europe’s resilience against cyber threats and infrastructure disruptions while ensuring broad access to digital payments.
Piero Cipollone, a member of the ECB’s Executive Board, told the European Parliament that resilience and inclusiveness are central to the project. The digital euro is intended to complement physical cash, providing spare capacity alongside private payment systems.
Safeguards include multi-region transaction processing, a mandatory ECB-run app, and offline functionality to allow peer-to-peer payments during network or power outages.
The ECB also highlighted the importance of accessibility. Millions of Europeans with visual or hearing impairments or limited digital literacy could benefit from adaptive interfaces, voice commands, large-font displays, and mandatory support from payment providers.
Public institutions such as post offices and libraries may offer free assistance for those less familiar with digital tools.
Lawmakers received the ECB’s 14th update on the digital euro, underscoring the central bank’s commitment to combining security, inclusivity, and technological innovation in Europe’s evolving payments landscape.
Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!
