European Union launches digital Euro project!

Study phase of 24 months

The 24 months of development will help to clarify how the design and distribution of the digital euro project can emerge. However, this will not clarify the future decision on issuing the digital euro, but only analyse the general framework.

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ECB Executive Board member Fabio Panetta stated:

Our work aims to ensure that citizens and businesses have access to the safest form of money, central bank money, also in the digital age.

An equally big issue is data protection and the associated avoidance of risks for all citizens. Therefore, an additional advisory market group will analyse the views of potential users and merchants during the investigation phase and take them into account accordingly.

The four broad areas of the experiment are: the digital euro ledger, data protection, anti-money laundering and limiting the circulation of digital euros. Also analysed is how users without internet access are not denied access. Especially the older generation is more affected by this.

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