Europeans show great interest in digital euro: ECB

Privacy of payments ranked highest among requested features of potential digital euro, survey reveals

Europeans have shown great interest in forming the future of the digital euro, the European Central Bank (ECB) said on Wednesday.

The bank initiated a public inquiry in October to comprehend citizens’ approach to such an initiative on digital currency.

A total of 8,221 citizens, firms, and industry associations responded to an online questionnaire, a record for ECB public consultations, the bank said in a statement.

The initial analysis of the survey indicated that privacy of payments ranked highest among the requested features of a potential digital euro (41% of replies), followed by security (17%) and pan-European reach (10%).

“The high number of responses to our survey indicates the great interest of Europe’s citizens and firms in shaping the vision of a digital euro,” said Fabio Panetta, a member of the ECB’s Executive Board.

“The opinions of citizens, businesses, and all stakeholders are of utmost importance for us as we assess which use cases a digital euro might best serve.”

A digital euro would be an electronic form of Central Bank money accessible to all citizens and firms – like banknotes, but in a digital form – to make their daily payments in a fast, easy and secure way.

It would complement, not replace cash,and the bank will keep issuing cash in any case.

The protection of privacy would be a key priority so that the digital euro can help maintain trust in payments in the digital age.

The ECB said a detailed analysis will be published in spring.

Anadolu Agency

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