The European Central Bank is investigating the possibility of introducing the digital euro as a complement to cash.
The European Commission has proposed the creation of a legislative framework for the introduction of the digital euro. It was reported on Wednesday, June 28 on the website of the European Commission.
The document says that the majority of EU residents prefer cashless payments, but the number of users of bank cards in the EU is gradually growing.
“At the moment, 60% of European Union residents surveyed want to continue using cash. However, more and more people are choosing digital payments using cards and bank applications. The this trend has been accelerated by the COVID-19 pandemic,” the EC said in a statement.
The European Commission emphasized that the digital euro, if implemented, will be available for online and offline payments.
“That is, payments can be made from device to device without an Internet connection, from a remote place or an underground car park. In turn, offline payments with digital euros will increase privacy. They will reveal less personal data than now happens when paying with a card,” – explained to the EC.
According to the authors of the idea, a bank account for digital euros can be opened at a post office or local government office.
It is planned to introduce the digital euro throughout the EU.
The National Bank of Ukraine responded to the refusal of banks and exchange offices to change “old” and worn banknotes. The NBU introduced improved control over currency exchange.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.