From ACT Wiki
Central bank digital currencies (CBDCs) - Eurozone - European Central Bank
A digital euro is the idea of a possible central bank digital currency issued by the European Central Bank (ECB).
- Digital euro should complement cash - not replace it
- "The Eurogroup... emphasised that the introduction of a digital euro, as well as its main features and design choices, require political decisions that should be discussed and taken at the political level.
- Amongst other things, the statement also called for the environmental implications of the digital euro design to be considered and stressed that a digital euro should complement and not replace cash, and ensure a high level of privacy."
- ACT blog - Naresh Aggarwal - Central Bank Digital Currencies (CBDCs) and other digital currencies – March 2023.
- CBDC should anchor monetary stability & complement private sector activities
- "In a recent presentation by Fabio Panetta (member of the Executive Board of the ECB), at the Annual Congress of the European Economic Association, he noted:
- o Digital public money is the monetary anchor in a digital world.
- o The importance of safeguarding monetary sovereignty.
- o The need to enhance competition and efficiency in payments.
- But also the importance that a CBDC was not too successful if it crowds out private sector activity."
- ACT blog - Naresh Aggarwal - Central Bank Digital Currencies (CBDCs) and other digital currencies – September 2022.
- No decision yet on euro CBDC
- "In a recent speech the President of the ECB said that the central bank is launching a two-year investigation into a digital euro as more consumers switch from banknotes and cash.
- The actual release of the ECB-backed cryptocurrency in the bloc’s 19 members could take another two years on top of the technology design and investigation stage (itself expected to take a couple of years).
- In theory, if all goes to plan, the central bank could launch a digital currency by 2025 if European regulators give the project the green light.
- She noted that the project would complement the existing banking system rather than trying to ‘jeopardise’ it adding that experiments to consider the merits of minting a ‘digital euro’ were going through a complex decision-making process.
- The bank has not yet decided to issue a CBDC. "
- Association of Corporate Treasurers - Update on the Payments landscape - September 2021.
- Central bank
- Central bank digital currency
- Digital currency
- Distributed ledger
- Environmental concerns
- European Central Bank (ECB)
- European System of Central Banks
- Fiat currency
- Gold standard
- Multi-CBDC arrangement
- Retail central bank digital currency
- Sand Dollar
- Wholesale central bank digital currency (wCBDC)