currency
The Bundesbank and MIT are researching digital central bank money
The German Bundesbank and the renowned US university Massachusetts Institute of Technology have agreed on a research collaboration on digital central bank money. photo
© Karl-Josef Hildenbrand/dpa
The monetary authorities in the euro area, under the leadership of the ECB, are working on a digital variant of the European common currency. The Bundesbank is also relying on cooperation in the USA.
“The MIT DCI is working intensively on innovative topics that we are also dealing with in Europe, for example with regard to the compatibility of security and privacy in digital central bank money,” said Bundesbank President Joachim Nagel. “The Bundesbank is very pleased to be researching this important topic together with such a competent partner as the MIT DCI.” The results of the cooperation will be published and will contribute to deepening knowledge about the use of digital central bank money in Europe and worldwide.
For years, the monetary authorities in the euro area, under the leadership of the European Central Bank (ECB), have been working on a digital version of the European common currency as a supplement to notes and coins. It has not yet been decided whether and when there will be a digital euro.
ECB website on the digital euro ECB: Questions and answers on the digital euro ECB decision on the digital euro October 18, 2023