The majority of Germans are skeptical about the possible arrival of a digital euro, which the European Central Bank (ECB) is working on. This can be seen from a survey commissioned by the German banking sector association. The survey showed that three-quarters of respondents agree to a greater or lesser extent that the digital euro is superfluous because the existing payment options are sufficient.
Research commissioned by the Bundesverbandes deutscher Banken (BdB) also shows that less than a third of respondents have an idea of how digital currency should be used. The ECB has been studying its own digital euro for some time, as a counterpart to cryptocurrencies such as bitcoin and ether. This euro digital currency should therefore become an addition to the existing payment system in the eurozone. The introduction is not expected before 2026.
Many questions
But according to BdB, people have many questions about the digital euro that the ECB needs to answer. ‘What should a digital euro look like? What benefits does it bring, but also what risks? The central bank should answer these key questions so that the project reaches mainstream society,” said BdB Deputy Director Henriette Peucker.
According to her, a digital euro can only be successful if it is accepted and actually used by the European population. “Until the benefits and risks are clear, the project will remain shaky and consumers will continue to use the payment options they already know and trust,” concludes Peucker.
Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
