Fabio Panetta, a member of the European Central Bank’s board of directors, said research from the ECB’s focus group found that people were more likely to accept money. “Digital Euros” in physical stores and online stores and makes it easy to make face-to-face payments
In a written statement, Panetta canIt describes the findings of the ECB’s focus group on digital payment methods launched in September 2021, which suggest that people are more likely to accept the accepted digital euro in physical and online stores. and make it easier to make person-to-person payments. According to Panetta, all traders will have to accept the digital euro to see the same adoption trend that fiat experienced 20 years ago.
“The introduction of the euro banknote It allows us to pay in Euros anywhere in the Eurozone,” Panetta said. “So it is not surprising that people can expect digital Euros wherever digital or online payments can be made.”
The findings also indicated thatallegedlygeneral public and many merchants Still unfamiliar with the digital euro and fear that it will run out of cash as the number of technology use cases increases. Members from the general public said “Widely accepted in all physical stores and online” is the most desired feature for the digital euro. As traders suggest that high demand will be Their biggest driver
Panetta added that the ECB would consider these features alongside privacy concerns. In response to public consultations conducted by the central bank between October 2020 and January 2021, he said the ECB would take another round of focus groups on the digital euro by the end of 2022, providing information that could lead to Can be used to define relevant policies:
“We get a clear picture of what people and merchants want. So we can customize all design features of the digital euro before it is issued. And the members of the Joint Legislature play an important role, for example, to provide more privacy.”
The European Central Bank is exploring the development of the digital euro. As interest in central bank digital currencies appears to be growing worldwide. For example, the Central Bank of the Bahamas was the first country to launch a CBDC in October 2020, and China, which began trials of the digital yuan in 2020 and opened to international athletes participating in the Beijing Winter Olympics in February.
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