THE OPPORTUNITY TO SWITCH TO THE EURO DIGITAL CURRENCY
THE OPPORTUNITY TO SWITCH TO THE EURO DIGITAL CURRENCY

Summary/Abstract: It is becoming more and more obvious every day that we are participating in the beginning of the era of digital currencies. They appear to come in three forms: stablecoins, cryptocurrencies, and central bank digital currencies. This is the context in which the European Central Bank, in collaboration with the central banks of the euro area, has launched a study which aims to investigate whether a "digital euro would provide an anchor of stability for our money in the digital age". The investigation phase started in October 2021 and is still ongoing. It is expected to last approximately two years, ending in October 2023. A parallel research is ongoing. Private banks are also concerned about this issue. All these studies must emphasize whether a central bank digital euro is a viable and optimal solution to an unserved market need for which there is no other more efficient solution.

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