New Poll by European Central Bank To Test Public Opinion About Digital Currencies
European Central Bank President Christine Lagarde announced a new public poll on the feasibility of the proposed digital euro.
Central Bank Digital Currency (CBDC) could revolutionise retail finance by dramatically reshaping it and paving the way for a cashless euro zone.
Lagarde explained the reasons why the euro bank is conducting research. The result of the survey will allow the bank to find out if Europeans want to use the digital euro in the same way they use the fiat euro. They are convenient to use and inspire confidence on a par with the usual cash euros.
This survey was conducted before the European Central Bank released a report assessing the benefits of the digital euro. The report highlighted the many benefits of financial modernisation and integration across the euro area.
The study presents some of the concepts of the digital euro.
First of all, the digital euro can be completely transformed into any other form of euro, such as a bank deposit, a bill of exchange, or used as a reserve asset. Secondly, it will be liquid within the entire eurozone. Third, the goal is not to compete with private solutions, such as any legal authorisation.
CBDC is becoming an increasingly popular concept to modernise the global financial system. For example, the Digital Yuan, which has been tested in several provinces in China. By showing a whole host of advantages over cryptocurrency integration. Has a lot to do with the vision proposed by the European Central Bank about CBDC.
Perhaps through a new poll, the European Central Bank is trying to send a message to the world that it wants to go beyond just being at the forefront of this financial innovation. But also show the whole perspective, convenience and transparency in the use of digital currency.