European Central Bank seeks public input on digital euro

European Central Bank seeks public input on digital euro


The European Central Bank launched a public consultation on a potential digital euro on Oct. 12. 

Developments on the central bank digital currency front in the Eurozone have picked up pace amid the COVID-19 pandemic, and the central bank has framed its introduction to the public consultation with the claim that the issuance of a CBDC could help “cushion the impact of extreme events — such as natural disasters or pandemics — when traditional payment services may no longer function.” 

Earlier this month, a Bloomberg report claimed that the ECB applied to trademark the term “digital euro” on Sept. 22, and the ECB published a major new study devoted to the digital euro in early October.

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As had been outlined in the report, another key benefit of a future CBDC would be providing the Eurozone with “strategic autonomy.” The introduction to the public consultation argues that a digital euro would offer an alternative to “foreign digital means of payment, which

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