The results of a public opinion poll conducted in Germany showed that the majority of the country’s population is skeptical about the work carried out by the European Central Bank to create a “digital euro”.
This is stated in a survey conducted by the Federal Association of German Banks (BDP), the results of which were published on Saturday. The results showed that 76% of respondents consider the “digital euro” to be “very” or “somewhat” unnecessary, since the current payment options are quite sufficient.
Official: ECB may introduce digital euro as legal tender
However, the results showed that less than a third of those surveyed (29%) had any idea how to develop a digital form for the single European currency or how to use the “digital euro”, according to Asharq Al-Awsat. newspaper.
For her part, Henriette Becker, the association’s executive vice president, said it was important for the ECB to reach out to the people and “answer the big questions, what will a digital euro look like? What are the benefits and risks? for the project to reach the heart of society.”
It should be noted that the European Central Bank is exploring the possibility of introducing a digital version of the single European currency in response to the recent strong growth of cryptocurrencies such as Bitcoin and Ethereum.
And in mid-June 2021, the bank decided to take the preparatory work to a new level, presented in the research phase, which began in October of the same year, and this process is related to the technical aspect and data protection in the application of the “digital euro”.
It has not yet been decided whether a “digital euro” will be introduced, but in any case it will be an addition to the cash currency, not a replacement. Forecasts show that the implementation of the “digital euro” may not occur before 2026. “The digital euro will only succeed if Europeans embrace and use it. As long as the benefits and risks remain unknown, the project will remain shaky and consumers will continue to take advantage of the digital payment capabilities they already know and trust in the moment,” Becker said.
The association announced its position on the “digital euro” in a statement released in February, saying that the “digital euro” could provide an important boost to electronic payments in a fragmented European market.
It is noteworthy that among the respondents (1008 people), 21% believe that the “digital euro” can make payment “very” or “somewhat” easier.
