Summary
- The European Central Bank's push to introduce the digital euro has received minimal interest locally.
- According to the survey, most respondents said they would not use the digital euro, which was identified as a major challenge for its implementation.
- ECB President Christine Lagarde said they plan to launch CBDC by October this year.
Interest in the Central Bank Digital Currency (CBDC) being promoted by the European Central Bank (ECB) appears to be minimal in the region.
According to the 'Consumer Attitudes Toward CBDC' research report released by the European Central Bank on the 12th (local time), when the ECB conducted a survey of approximately 19,000 people across 11 countries in the eurozone (20 countries using the euro), most respondents said they would not use the digital euro. When asked to distribute 10,000 euros across various assets, respondents allocated only a very small amount to the digital euro.
The European Central Bank pointed out that this consumer perception is the biggest challenge for the introduction of the digital euro. The ECB stated, "The results suggest that convincing some consumers of the added value of CBDC could be a challenge for policymakers," adding that "further research on this is absolutely necessary."
The European Central Bank plans to introduce CBDC within this year. Christine Lagarde, President of the European Central Bank, recently stated at a press conference that "the EU plans to launch CBDC by October this year."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
