Dijital europroject launches as ECB launch research phase

After months of debate, the European Central Bank decided to launch the digital Euro project. Officials insist that the new version of the unified European currency should “provide privacy” and provide access to the “safest form of money,” with “insignificant” costs to the environment compared to bitcoin.

Eurosystem Launches Digital Europroject
The European Central Bank (ECB) governing body made a long-awaited decision on Wednesday to launch the “research phase” of the central bank’s digital currency (CBDC) release Project. This phase will take two years, addressing key aspects of the design and deployment of the digital Euro. Either way, there will be no replacement for cash, and a final decision on his release has yet to be made.

ECB President Christine Lagarde
“It has been nine months since we published our Digital Euro report. During this time we conducted October Analyses, solicited the opinions of citizens and experts, and conducted a series of experiments that yielded encouraging results. All this led to our decision to accelerate and launch the digital Euro project,” ECB President Christine Lagarde said after the meeting. He also stressed:

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

The eurosystem, which includes the ECB and the national central banks of the 19 eurozone member states, plans to take into account the needs of future users when preparing the functional design of the digital Euro. The phase of the study will include focus groups, prototyping and conceptual work to examine currency use cases, the regulator said in a press release.

The ECB will work with the European Parliament and the European Commission to identify the necessary changes to the Union’s legal framework for implementing the CBDC. The bank will also assess the potential impact of the digital Euro

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