The Bundesbank board is promoting the digital euro and is counting on all major banks in Germany to go along with the planned European payment system EPI.
(Photo: Manuel Hauptmannl for Handelsblatt)
Frankfurt The deep crisis of cryptocurrencies like bitcoin has fueled debate on whether central banks should stick with their digital currency projects. Bundesbank board member Burkhard Balz promotes the digital euro in an interview with the Handelsblatt. With this, the central banks would create a stable and reliable alternative to the “speculative objects” from the crypto scene.
Read the entire interview here:
Mr. Balz, the ECB wants to decide on the introduction of a digital euro in 2023. Can you explain what ordinary citizens get out of it?
As the central banks of the euro area, we aim to provide the citizens with the best possible product. So far they can only access central bank money in the form of notes and coins. In a world that is becoming more and more digital, we are therefore concerned about giving people the opportunity to access central bank money digitally.
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