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The ECB is studying public opinion on the issue of the digital euro

The ECB is studying public opinion on the issue of the digital euro

The European Central Bank (ECB) has launched a survey in which it invites EU citizens to express their position on the issue of the digital euro.

The President of the European Central Bank, Christine Lagarde, published an entry on the social network Twitter with a link to the ECB survey, which aims to find out the public’s opinion on the issue of the digital euro. Lagarde wrote:

“We have started to explore the possibility of issuing a digital euro. As Europeans increasingly turn to digital technologies for spending, saving, and investing, we must be prepared to issue a digital euro if necessary. I also really want to know your opinion on this matter.”

Lagarde said that Europeans can express their preferences and say whether they would like to use the digital euro in the same way as they use coins or banknotes, knowing that this is central bank money that can be relied on. “We are still at the stage of reviewing and studying the issue,” she added.

In the survey, respondents are asked to express their preferences for the digital euro and answer various questions, such as: “What services, features or use cases do you think are necessary and should be taken into account when developing the digital euro?”.

The ECB study describes two approaches to the operation of the digital euro: one requires intermediaries to process the payment, and the other does not. At the same time, in the first case, the ECB describes a digital euro that does not require the participation of a central bank or an intermediary in the processing of each individual payment.

Such a mechanism will be closer to cash payments. The digital euro can be used without an Internet connection, and the user’s privacy and personal data will be better protected. In the second approach, transactions are recorded by intermediaries.

Recently, a member of the ECB’s executive board, Fabio Panetta, stated the need to use the digital euro in the event of force majeure. Earlier this month, the ECB filed an application for the registration of the digital euro trademark, and also published a report that specified four conditions for the issuance of the digital euro.