The results of focus groups conducted by the European Central Bank revealed that the population is very likely to adopt the digital euro (CBDC).

EU Residents Are Ready to Use Digital Euro

The ECB representative, Fabio Panetta, in his report shared the attitudes of the European Union population toward the adoption of the digital euro. Panetta compares the adoption of the digital euro to the adoption of the fiat euro across the EU 20 years ago. 

According to the survey, the population is positive about the possibility of paying for goods and services throughout the EU using the digital euro. One of the advantages of digital currency noted by the focus group was transaction speed and convenience. Another point was the absence of a third party in the remittance process.

As a result, Fabio Panetta stated that the ECB will hold another round of focus groups on the digital euro closer to the end of 2022. Such studies help to determine the EU population’s readiness for the new currency and the direction to develop the base of the digital euro.Certain European countries, like France and Switzerland, are also working actively in developing CBDCs. Details on central bank digital currency trends in 2022 are available in this article.

Author: Diloram Sultankhodzhaeva
#CBDC #Cryptocurrency