The European Central Bank will begin research into a digital euro, a project that will last 24 months after years of discussing the idea.The organization promised future users compliance with privacy, as well as lower energy consumption than bitcoin.
</p>Despite the fact that the idea of CBDC has long been vital inair, the ECB has never shown a long interest in its study. In the past, the bank's presidents, including the president Christian Lagard, allowed its creation, but they never made plans.
But now the situation has changed - on July 14, the organization announced that it had “decided to start a stage of research on the digital euro project,” which will last for two years.
During the test periodThe ECB department will “strive to resolve the key issues concerning design and distribution”, as the digital version of the euro “should be appropriate” for
CBDC should help you “prevent unauthorizedactivity and avoid any undesirable impact on financial stability and monetary policy ". In addition, it is emphasized that the digital euro will supplement the cash, and not replace them.
“It's been nine months with tex pop, as wehave published our report on the digital euro. During this time, we have carried out a detailed analysis, asked the opinion of citizens and professionals, and conducted several experiments with up-to-date results. All this is a reason for us to decide to go to a higher level and start a digital euro project, ”Lagard said.
The ECB President added that the final product should guarantee Europeans "access to the safest form of money - money center".
It is also stated that the energy required fordigital euro, will be "unacceptable in comparison with the consumption of energy and environmental performance of such cryptoactivities, like bitcoin." It is understood that the digital euro will have nothing to do with cryptocurrencies or decentralized bitcoins.
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