But responses from the ECB’s public consultation, released this week, have gone some way to narrowing the options discussed - with the feedback showing a preference for privacy, though not anonymity, and a role for the existing banking system. Although this was just one survey, and the ECB laced it with caveats about how unrepresentative the sample was of euro zone citizens, it may give some clues to the direction of travel.
THE promised digital euro started to take shape last week and signals from Frankfurt may offer some relief to nervy commercial banks worried about being sidelined by the latest disrupter.
With the “hands off” pandemic accelerating the demise of physical cash, and private-sector crypto and stablecoins threatening to invade the space, the pledge last year of a digital euro within five years came before the European Central Bank knew what exactly it would be or how it would function.
Limited time offer:
Just RM5 per month.
