ECB poll: Privacy is the most significant consideration for the digital euro.

Spread the love

 228 Interactions,  4 today

According to a public survey conducted by the European Central Bank (ECB), consumers value privacy as the most valuable aspect of a digital euro.

In an announcement, ECB confirmed it had received some 8,200 responses to its consultation on the matter, including from across the business community. Among the responses, the bank said it had received a number of helpful technical contributions on how best to realize the digital euro.

Privacy was cited as the most critical attribute for 43 percent of voters, including members of the general public, in the state-backed digital currency. The bulk, however, fell short of complete anonymity, with only one in ten citing anonymous transfers as an important aspect of a digital currency.

Second only to privacy was the question of protection, which was raised by 18% of respondents. A further 11% cited the simplicity of which the digital euro could be used as a currency, while 9% stated that there should be no extra fees. Offline accessibility was cited as the most important consideration by 8% of members.

 

RECOMMENDED READ:  DEX progress to be a “landmark event” over the summer: Framework Ventures

Fabio Panetta, a member of the executive board at the ECB, said the digital euro would be designed with citizens as the foremost consideration.

“We will do our best to ensure that a digital euro meets the expectations of citizens highlighted in the public consultation.”

 

The results come at a time when major central banks around the world are weighing their own options for central bank digital currencies.

Plans for a digital euro are moving forwards, with European institutions anticipating a launch within the next four years. If preparations for a rollout are accepted this summer, ECB President Christine Lagarde says the digital euro will be ready in four years.

Leave a Reply

Contact Us