The European Central Bank Launches the Investigation Phase of a Digital Euro Project
The value of global cashless payments has been radically increasing worldwide. To keep up with the digitalisation of payments (and of the economy), central banks are experimenting with the development of Central Bank Digital Currencies (CBDCs). The development of CBDCs would not however simply mean to replace bills and coins with virtual cash. Its implications blur the boundaries of the payment and financial systems, challenging the core functions of our economy and society.
The executive board of the European Central Bank (ECB) has recently launched the investigation phase of a digital euro project which will last for five years.