ECB officially begins with the investigation of the digital euro development could begin in 2 years - regulation Bitcoin News
ECB officially begins with the investigation of the digital euro development could begin in 2 years - regulation Bitcoin News
The European Central Bank (ECB) says that it “starts with the examination” of a digital euro by initiating a two -year investigation. ECB President Christine Lagarde believes that the ECB should be ready to react to the demands of the people for digital currencies, and find a European solution that "does not endanger the entire banking system".
Lagarde reveals plans by the ECB to react to the demand for digital currency with digital euros
The President of the European Central Bank (ECB), Christine Lagarde, spoke in an interview with Klaus Schwab, founder and chairman of the World Economic Forum last week, about the digital currencies of the central banks (CBDCS), in particular the digital euros.
After the interview, Lagarde tweeted: "We at the ECB believe that we should be ready and have the technology available to react to the requirements of the people. Therefore we start a two -year examination for a digital euro."
On the ECB website, it says:
We are now starting to examine what a digital euro could look like. This examination phase begins in October 2021 and lasts about two years.
"We will examine how a digital euro could be designed and distributed to dealers and citizens, as well as the effects on the market and the possibly necessary changes to European legislation," said the European Central Bank in detail.
ECB boss Lagarde continued Schwab: "If customers prefer to use digital currency than to have banknotes and cash available, they should be available." She said:
We should react to this demand. And make sure that we have a solution that is European, which is certain that is available on friendly conditions, which can also be used as a means of payment on reasonable conditions and does not endanger the entire banking system, which should be part of the offer.
Lagarde continued: "That is why we decided to carry out a two -year experiment to ensure that we can actually react to this demand: availability as cash is available and will continue to be available, but it will be." be the preference of a consumer; the safety of the device; User -friendliness; Favorable costs; and ways of dealing with business, which are not only recognized and accepted worldwide. ”
The ECB has clarified:
After completing the examination phase, we decide whether the development of a digital euro will begin or not. We would then develop and test possible solutions, in cooperation with banks and companies that could provide technology and payment services.
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