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Eurosystem Survey Explores Feasibility of Digital Euro

The Eurosystem’s ongoing survey delves into the feasibility and desirability of a digital euro for both retail and wholesale usage. Learn about the potential of a secure, accessible, and innovative payment solution and how it complements traditional cash.

The Eurosystem is actively investigating the possibility of introducing a digital euro, both for retail and wholesale applications. This move is part of their commitment to providing secure and innovative payment methods for the public. A public consultation on a retail digital euro has already been initiated, with the results expected in early 2024.

In addition to the public consultation, the Eurosystem has released a comprehensive report on the legal, technical, and policy aspects of the digital euro. This report explores different scenarios where a Central Bank Digital Currency (CBDC) could be necessary and outlines various design options and their implications. Importantly, the digital euro is designed to complement cash, not replace it, ensuring privacy, security, efficiency, and compatibility within the European payment system.

It’s crucial to note that a final decision on the digital euro’s introduction has not been made. The ongoing survey and its analysis will play a pivotal role in determining the path forward. The Eurosystem will also collaborate with central banks and authorities to explore the feasibility and implications of a CBDC.

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