Study shows: Europeans see no added value in the digital euro - education as the key to acceptance?

Study shows: Europeans see no added value in the digital euro - education as the key to acceptance?

Digital currency in focus: The discussion about the digital euro

The European Central Bank (ECB) has been considering the possibility of introducing a digital euro for some time. However, a recent study shows that the European population is skeptical about the concept of a digital currency. A survey of 19,000 participants from eleven euro countries, including the Netherlands, found that the majority of those surveyed find a digital euro to be of little value.

Why a digital euro?

The digital euro is seen as a tool that could help ensure greater security in payments. It is also intended to make digital payments more accessible to everyone and reduce the costs of cross-border transactions. It could also serve to reduce Europe's dependence on commercial banks and big tech companies.

Little enthusiasm and a lot of confusion

The study showed that general interest in a digital euro is low. A key reason for this is the strong preference for traditional payment methods, such as cash and classic bank accounts. In an experiment in which participants were asked to distribute 10,000 euros across different assets, the digital euro received only a marginal share, suggesting that consumers do not view it as essential.

In addition, there is great uncertainty about the concept of the digital euro. Many people are unclear about what exactly a central bank digital currency (CBDC) is and why it might be relevant to them. This uncertainty represents a significant challenge for decision-makers. In order to promote the acceptance of the digital euro, it is necessary to clearly communicate the benefits and potential application in everyday life.

Education as the key to acceptance?

Despite the prevailing skepticism, the ECB study shows that targeted educational measures can have a significant influence on people's attitudes. Participants who watched a short video about the advantages of the digital euro were significantly more positive about the concept. This highlights the importance of clear, understandable communication. The better people are informed about how the digital euro works and its benefits, the more likely they are to be open to it.

In summary, education and effective communication strategies are crucial for the acceptance of the digital euro. The ECB faces the challenge of creating awareness of the digital euro and clarifying its importance for citizens' everyday lives.