de.euronews.com
Digital Euro: A New Payment Method for Europe?
The European Central Bank is exploring a digital euro, a new payment method raising concerns and excitement among citizens and banks alike.
German
United States
EconomyTechnologyEuropean UnionFinanceDigital Currency
European Central BankEuropean CommissionEuropean Parliament
Damian BoeselagerIsabel Marques Da SilvaPaula Soler
- What is the digital euro and how will it work?
- The digital euro, currently under investigation by the European Central Bank (ECB), is intended to be a new payment method accessible via various platforms like rechargeable cards, digital wallets, or mobile apps.
- What are the public's opinions about the digital euro?
- Public opinion on the digital euro is divided, with some appreciating its convenience and others expressing concerns about security risks like fraud and hacking attempts, mirroring existing issues with digital payment systems.
- What are the potential risks and benefits of the digital euro?
- While the digital euro aims to improve financial inclusion by providing access to those without bank accounts or internet access, concerns remain about data privacy and the potential for increased fraud and money laundering.
- What is the timeline for the potential implementation of the digital euro?
- The digital euro's potential benefits include increased financial sovereignty for Europe and greater convenience for consumers. However, the timeline for implementation remains uncertain, with a two-to-three year estimate pending approval and further development.
- How do private banks view the potential implementation of the digital euro?
- Private banks are skeptical about the digital euro, fearing potential customer losses and uncertainty about its overall cost and impact on the existing financial system. Concerns about its impact on their profits and its ability to maintain customers are also prevalent.